DocuSign (NASDAQ:DOCU) Price Target Raised to $115.00 at Citigroup

DocuSign (NASDAQ:DOCU - Get Free Report) had its price target raised by investment analysts at Citigroup from $113.00 to $115.00 in a report released on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Citigroup's target price points to a potential upside of 34.10% from the company's current price.

Several other brokerages also recently weighed in on DOCU. JMP Securities restated a "market outperform" rating and set a $124.00 price objective on shares of DocuSign in a research report on Tuesday, January 7th. Needham & Company LLC restated a "hold" rating on shares of DocuSign in a research report on Friday. Piper Sandler lifted their target price on shares of DocuSign from $60.00 to $90.00 and gave the company a "neutral" rating in a report on Friday, December 6th. Wells Fargo & Company lifted their target price on shares of DocuSign from $70.00 to $73.00 and gave the company an "underweight" rating in a report on Friday. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $90.00 target price on shares of DocuSign in a report on Friday. 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. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $95.58.

DocuSign Price Performance

Shares of NASDAQ:DOCU traded up $11.06 during trading on Friday, hitting $85.76. 11,927,431 shares of the company were exchanged, compared to its average volume of 2,402,407. The stock has a market capitalization of $17.33 billion, a P/E ratio of 17.68, a PEG ratio of 6.94 and a beta of 1.02. DocuSign has a 12-month low of $48.70 and a 12-month high of $107.86. The firm's 50 day moving average price is $87.97 and its 200-day moving average price is $79.52.

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

Insider Buying and Selling at DocuSign

In other news, 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 transaction, the director now directly owns 7,736 shares of the company's stock, valued at $731,825.60. This represents a 6.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Allan C. Thygesen sold 40,000 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the transaction, the chief executive officer now directly owns 156,050 shares in the company, valued at approximately $14,050,742. This trade represents a 20.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 104,422 shares of company stock valued at $9,665,394. 1.66% of the stock is owned by company insiders.

Hedge Funds Weigh In On DocuSign

A number of institutional investors and hedge funds have recently made changes to their positions in DOCU. Citizens Financial Group Inc. RI boosted its position in shares of DocuSign by 2.3% in the 4th quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company's stock worth $539,000 after buying an additional 133 shares in the last quarter. Rakuten Securities Inc. boosted its position in shares of DocuSign by 20.9% in the 4th quarter. Rakuten Securities Inc. now owns 797 shares of the company's stock worth $72,000 after buying an additional 138 shares in the last quarter. Synergy Financial Group LTD boosted its position in shares of DocuSign by 3.4% in the 4th quarter. Synergy Financial Group LTD now owns 4,241 shares of the company's stock worth $381,000 after buying an additional 140 shares in the last quarter. M&T Bank Corp boosted its position in shares of DocuSign by 1.3% in the 4th quarter. M&T Bank Corp now owns 10,840 shares of the company's stock worth $975,000 after buying an additional 143 shares in the last quarter. Finally, TD Waterhouse Canada Inc. boosted its position in shares of DocuSign by 34.5% in the 4th quarter. TD Waterhouse Canada Inc. now owns 557 shares of the company's stock worth $50,000 after buying an additional 143 shares in the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

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.