UBS Group Lowers DocuSign (NASDAQ:DOCU) Price Target to $90.00

DocuSign (NASDAQ:DOCU - Free Report) had its price target decreased by UBS Group from $100.00 to $90.00 in a research report released on Friday,Benzinga reports. UBS Group currently has a neutral rating on the stock.

A number of other analysts have also commented on DOCU. Bank of America reduced their target price on DocuSign from $112.00 to $98.00 and set a "neutral" rating for the company in a report on Friday. Jefferies Financial Group lifted their price objective on DocuSign from $80.00 to $95.00 and gave the stock a "buy" rating in a report on Tuesday, December 3rd. JPMorgan Chase & Co. raised DocuSign from an "underweight" rating to a "neutral" rating and lifted their price objective for the stock from $70.00 to $75.00 in a report on Monday, March 10th. Robert W. Baird lifted their price objective on DocuSign from $59.00 to $100.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Finally, Morgan Stanley lifted their price objective on DocuSign from $62.00 to $97.00 and gave the stock an "equal weight" rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $95.58.

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DocuSign Stock Up 14.8 %

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

DocuSign (NASDAQ:DOCU - Get Free Report) last posted its earnings results on Thursday, March 13th. The company reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.84 by $0.02. The business had revenue of $776.25 million during the quarter, compared to analyst estimates of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The company's quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.76 EPS. As a group, research 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 15,588 shares of DocuSign stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $97.78, for a total transaction of $1,524,194.64. Following the transaction, the chief financial officer now directly owns 85,851 shares in the company, valued at approximately $8,394,510.78. The trade was a 15.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Allan C. Thygesen sold 40,000 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total value of $3,601,600.00. Following the completion of the transaction, the chief executive officer now owns 156,050 shares in the company, valued at $14,050,742. The trade was a 20.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 104,422 shares of company stock worth $9,665,394. Corporate insiders own 1.66% of the company's stock.

Hedge Funds Weigh In On DocuSign

Several large investors have recently made changes to their positions in DOCU. US Bancorp DE lifted its position in shares of DocuSign by 12.6% in the third quarter. US Bancorp DE now owns 3,561 shares of the company's stock valued at $221,000 after acquiring an additional 398 shares in the last quarter. Apollon Wealth Management LLC purchased a new stake in shares of DocuSign in the third quarter worth about $203,000. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of DocuSign by 10.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 475,113 shares of the company's stock worth $29,500,000 after buying an additional 44,615 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of DocuSign by 211.4% in the third quarter. Victory Capital Management Inc. now owns 409,877 shares of the company's stock worth $25,449,000 after buying an additional 278,252 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in shares of DocuSign by 9.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 5,442 shares of the company's stock worth $338,000 after buying an additional 481 shares in the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

DocuSign Company Profile

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.