Morgan Stanley Lowers DocuSign (NASDAQ:DOCU) Price Target to $92.00

DocuSign (NASDAQ:DOCU - Free Report) had its target price lowered by Morgan Stanley from $97.00 to $92.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other equities research analysts also recently issued reports on the company. JPMorgan Chase & Co. raised DocuSign from an "underweight" rating to a "neutral" rating and boosted their price target for the company from $70.00 to $75.00 in a research report on Monday, March 10th. William Blair upgraded DocuSign from a "market perform" rating to an "outperform" rating in a report on Monday, March 17th. Royal Bank of Canada restated a "sector perform" rating and issued a $90.00 price target on shares of DocuSign in a report on Friday, March 14th. Needham & Company LLC reiterated a "hold" rating on shares of DocuSign in a research note on Friday, March 14th. Finally, Hsbc Global Res raised shares of DocuSign from a "moderate sell" rating to a "hold" rating in a research note on Friday, April 11th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, DocuSign has an average rating of "Hold" and an average price target of $93.08.

DocuSign Trading Down 1.3 %

Shares of NASDAQ DOCU traded down $0.97 on Wednesday, reaching $75.42. 1,308,166 shares of the company traded hands, compared to its average volume of 2,740,164. The company has a 50 day moving average of $81.35 and a 200 day moving average of $83.24. DocuSign has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The stock has a market capitalization of $15.27 billion, a PE ratio of 15.55, a P/E/G ratio of 6.94 and a beta of 1.20.

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

Insiders Place Their Bets

In other news, CFO Blake Jeffrey Grayson sold 16,111 shares of the company's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $83.20, for a total value of $1,340,435.20. Following the sale, the chief financial officer now owns 93,960 shares in the company, valued at approximately $7,817,472. This represents a 14.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $87.41, for a total value of $46,676.94. Following the completion of the transaction, the director now owns 8,270 shares of the company's stock, valued at $722,880.70. This trade represents a 6.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,851 shares of company stock worth $4,607,439 in the last three months. 1.66% of the stock is owned by insiders.

Institutional Investors Weigh In On DocuSign

Several institutional investors and hedge funds have recently made changes to their positions in the company. QRG Capital Management Inc. raised its holdings in shares of DocuSign by 10.1% during the first quarter. QRG Capital Management Inc. now owns 66,242 shares of the company's stock worth $5,392,000 after purchasing an additional 6,087 shares during the period. Adero Partners LLC raised its stake in DocuSign by 7.0% during the first quarter. Adero Partners LLC now owns 3,231 shares of the company's stock worth $263,000 after acquiring an additional 212 shares during the period. Janney Montgomery Scott LLC lifted its holdings in DocuSign by 6.6% in the first quarter. Janney Montgomery Scott LLC now owns 41,359 shares of the company's stock worth $3,367,000 after acquiring an additional 2,554 shares during the last quarter. Optas LLC lifted its holdings in DocuSign by 7.6% in the first quarter. Optas LLC now owns 3,088 shares of the company's stock worth $251,000 after acquiring an additional 219 shares during the last quarter. Finally, Ritholtz Wealth Management boosted its stake in DocuSign by 58.5% in the first quarter. Ritholtz Wealth Management now owns 3,926 shares of the company's stock valued at $320,000 after acquiring an additional 1,449 shares during the period. 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.