DocuSign (NASDAQ:DOCU) Given "Neutral" Rating at Wedbush

DocuSign (NASDAQ:DOCU - Get Free Report)'s stock had its "neutral" rating reissued by stock analysts at Wedbush in a research report issued on Friday,Benzinga reports. They presently have a $100.00 target price on the stock. Wedbush's price target points to a potential upside of 16.60% from the stock's current price.

DOCU has been the subject of a number of other research reports. Needham & Company LLC reaffirmed a "hold" rating on shares of DocuSign in a research report on Friday. JPMorgan Chase & Co. raised DocuSign from an "underweight" rating to a "neutral" rating and upped their price target for the company from $70.00 to $75.00 in a research report on Monday, March 10th. JMP Securities reaffirmed a "market outperform" rating and set a $124.00 price target on shares of DocuSign in a research report on Tuesday, January 7th. UBS Group upped their price target on DocuSign from $60.00 to $100.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. Finally, Citigroup reaffirmed a "buy" rating on shares of DocuSign in a research report on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $95.58.

DocuSign Stock Performance

DOCU stock traded up $11.06 during trading on Friday, hitting $85.76. 11,927,431 shares of the company traded hands, compared to its average volume of 2,402,407. The firm has a market capitalization of $17.33 billion, a PE ratio of 17.68, a P/E/G ratio of 6.94 and a beta of 1.02. DocuSign has a 1 year low of $48.70 and a 1 year high of $107.86. The company has a 50-day moving average of $87.97 and a 200-day moving average of $79.37.

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

Insider Activity at DocuSign

In related news, insider Robert Chatwani sold 14,800 shares of the firm's stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $97.76, for a total transaction of $1,446,848.00. Following the completion of the transaction, the insider now owns 73,414 shares of the company's stock, valued at $7,176,952.64. This trade represents a 16.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James P. Shaughnessy sold 7,500 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.17, for a total value of $676,275.00. Following the transaction, the insider now directly owns 43,781 shares of the company's stock, valued at approximately $3,947,732.77. This trade represents a 14.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 104,422 shares of company stock valued at $9,665,394 in the last 90 days. Corporate insiders own 1.66% of the company's stock.

Institutional Trading of DocuSign

Several institutional investors have recently added to or reduced their stakes in the business. FMR LLC boosted its stake in DocuSign by 178.2% during the 4th quarter. FMR LLC now owns 6,101,024 shares of the company's stock valued at $548,726,000 after purchasing an additional 3,908,139 shares during the last quarter. State Street Corp boosted its stake in DocuSign by 2.3% during the 3rd quarter. State Street Corp now owns 5,372,939 shares of the company's stock valued at $333,604,000 after purchasing an additional 120,743 shares during the last quarter. American Century Companies Inc. boosted its stake in DocuSign by 18.5% during the 4th quarter. American Century Companies Inc. now owns 5,315,459 shares of the company's stock valued at $478,072,000 after purchasing an additional 831,611 shares during the last quarter. Jericho Capital Asset Management L.P. boosted its stake in DocuSign by 34.0% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 4,754,753 shares of the company's stock valued at $427,642,000 after purchasing an additional 1,205,500 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in DocuSign by 4.9% during the 4th quarter. Renaissance Technologies LLC now owns 4,363,292 shares of the company's stock valued at $392,434,000 after purchasing an additional 205,304 shares during the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

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.