DocuSign (NASDAQ:DOCU) Given New $90.00 Price Target at UBS Group

DocuSign (NASDAQ:DOCU - Free Report) had its price objective cut by UBS Group from $100.00 to $90.00 in a report published on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages have also recently weighed in on DOCU. Wedbush restated a "neutral" rating and issued a $100.00 price objective on shares of DocuSign in a report on Friday. Hsbc Global Res upgraded shares of DocuSign to a "moderate sell" rating in a report on Friday, December 6th. Wells Fargo & Company boosted their price target on shares of DocuSign from $70.00 to $73.00 and gave the stock an "underweight" rating in a report on Friday. Citigroup reiterated a "buy" rating on shares of DocuSign in a report on Thursday, March 6th. Finally, Piper Sandler boosted their price target on shares of DocuSign from $60.00 to $90.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $95.58.

DocuSign Stock Performance

Shares of DocuSign stock traded up $11.06 on Friday, reaching $85.76. The company had a trading volume of 11,927,431 shares, compared to its average volume of 2,402,407. The firm has a market cap of $17.33 billion, a PE ratio of 17.68, a PEG ratio of 6.94 and a beta of 1.02. The firm's 50 day moving average price is $87.97 and its two-hundred day moving average price is $79.37. DocuSign has a 52-week low of $48.70 and a 52-week high of $107.86.

Remove Ads

DocuSign (NASDAQ:DOCU - Get Free Report) last announced its quarterly earnings data on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.84 by $0.02. The firm had revenue of $776.25 million during the quarter, compared to analysts' expectations of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The business's quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.76 earnings per share. As a group, sell-side analysts predict that DocuSign will post 1.17 EPS for the current year.

Insider Activity at DocuSign

In related news, CFO Blake Jeffrey Grayson sold 8,000 shares of the company's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $86.90, for a total value of $695,200.00. Following the completion of the sale, the chief financial officer now owns 77,851 shares in the company, valued at $6,765,251.90. This represents a 9.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Teresa Briggs sold 534 shares of the company's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $94.60, for a total transaction of $50,516.40. Following the completion of the sale, the director now owns 7,736 shares of the company's stock, valued at approximately $731,825.60. This trade represents a 6.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 104,422 shares of company stock worth $9,665,394 in the last 90 days. 1.66% of the stock is owned by insiders.

Hedge Funds Weigh In On DocuSign

Large investors have recently bought and sold shares of the company. Kestra Investment Management LLC purchased a new position in DocuSign during the 4th quarter worth $30,000. First Horizon Advisors Inc. raised its position in DocuSign by 102.6% during the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock worth $36,000 after buying an additional 201 shares during the last quarter. Modus Advisors LLC purchased a new position in DocuSign during the 4th quarter worth $36,000. Wood Tarver Financial Group LLC purchased a new position in DocuSign during the 4th quarter worth $37,000. Finally, McIlrath & Eck LLC raised its position in DocuSign by 476.0% during the 4th quarter. McIlrath & Eck LLC now owns 432 shares of the company's stock worth $39,000 after buying an additional 357 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company's stock.

About DocuSign

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.