Wedbush Reiterates "Neutral" Rating for DocuSign (NASDAQ:DOCU)

DocuSign (NASDAQ:DOCU - Get Free Report)'s stock had its "neutral" rating reiterated by stock analysts at Wedbush in a research note issued on Friday,Benzinga reports. They currently have a $100.00 price target on the stock. Wedbush's price target would indicate a potential upside of 16.60% from the company's previous close.

Several other research firms have also issued reports on DOCU. Wells Fargo & Company raised their price objective on DocuSign from $70.00 to $73.00 and gave the company an "underweight" rating in a research note on Friday. Bank of America reduced their price target on DocuSign from $112.00 to $98.00 and set a "neutral" rating on the stock in a report on Friday. Hsbc Global Res upgraded DocuSign to a "moderate sell" rating in a report on Friday, December 6th. UBS Group increased their price target on DocuSign from $60.00 to $100.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Finally, Piper Sandler increased their price target on DocuSign from $60.00 to $90.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock 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. The company had a trading volume of 11,927,431 shares, compared to its average volume of 2,402,407. The stock has a market cap of $17.33 billion, a price-to-earnings ratio of 17.68, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02. DocuSign has a one year low of $48.70 and a one year high of $107.86. The company has a fifty day simple moving average of $87.97 and a two-hundred day simple moving average of $79.37.

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DocuSign (NASDAQ:DOCU - Get Free Report) last posted its quarterly earnings data on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate 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 revenue for the quarter was up 9.0% on a year-over-year basis. During the same period last year, the company earned $0.76 EPS. On average, equities research analysts anticipate that DocuSign will post 1.17 earnings per share for the current year.

Insider Transactions at DocuSign

In other news, Director Teresa Briggs sold 534 shares of the business's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $94.60, for a total value of $50,516.40. Following the completion of the transaction, the director now directly owns 7,736 shares of the company's stock, valued at approximately $731,825.60. The trade was a 6.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the business's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $86.90, for a total value of $695,200.00. Following the completion of the transaction, the chief financial officer now directly owns 77,851 shares of the company's stock, valued at approximately $6,765,251.90. The trade was a 9.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 104,422 shares of company stock valued at $9,665,394. Corporate insiders own 1.66% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kestra Investment Management LLC purchased a new position in DocuSign during the 4th quarter worth $30,000. First Horizon Advisors Inc. grew its stake 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 grew its stake 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. 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.