Brokerages Set DocuSign, Inc. (NASDAQ:DOCU) Target Price at $63.40

DocuSign, Inc. (NASDAQ:DOCU - Get Free Report) has earned an average recommendation of "Hold" from the eleven ratings firms that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $63.40.

Several research analysts have weighed in on DOCU shares. Needham & Company LLC restated a "hold" rating on shares of DocuSign in a research note on Friday, September 6th. Royal Bank of Canada upped their price target on DocuSign from $52.00 to $57.00 and gave the stock a "sector perform" rating in a research note on Friday, September 6th. Bank of America upped their price target on DocuSign from $60.00 to $68.00 and gave the stock a "neutral" rating in a research note on Friday, September 6th. JMP Securities restated a "market outperform" rating and issued a $84.00 price target on shares of DocuSign in a research note on Thursday, September 5th. Finally, Robert W. Baird upped their price target on DocuSign from $55.00 to $59.00 and gave the stock a "neutral" rating in a research note on Friday, September 6th.

Insider Activity at DocuSign

In related news, Director Teresa Briggs sold 534 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $56.56, for a total transaction of $30,203.04. Following the sale, the director now owns 7,202 shares in the company, valued at approximately $407,345.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other DocuSign news, CEO Allan C. Thygesen sold 7,725 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $54.89, for a total value of $424,025.25. Following the sale, the chief executive officer now owns 109,918 shares in the company, valued at $6,033,399.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Teresa Briggs sold 534 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $56.56, for a total value of $30,203.04. Following the completion of the sale, the director now owns 7,202 shares in the company, valued at approximately $407,345.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 427,554 shares of company stock worth $23,129,150. Company insiders own 1.66% of the company's stock.

Institutional Trading of DocuSign

A number of hedge funds and other institutional investors have recently bought and sold shares of DOCU. Inspire Investing LLC bought a new position in shares of DocuSign during the 3rd quarter worth $911,000. Comerica Bank grew its position in shares of DocuSign by 228.8% during the 1st quarter. Comerica Bank now owns 28,901 shares of the company's stock worth $1,721,000 after buying an additional 20,110 shares in the last quarter. Retirement Systems of Alabama bought a new position in shares of DocuSign during the 1st quarter worth $8,700,000. PGGM Investments grew its position in shares of DocuSign by 36.7% during the 2nd quarter. PGGM Investments now owns 49,812 shares of the company's stock worth $2,665,000 after buying an additional 13,379 shares in the last quarter. Finally, Claro Advisors LLC bought a new position in shares of DocuSign during the 3rd quarter worth $727,000. Hedge funds and other institutional investors own 77.64% of the company's stock.

DocuSign Price Performance

Shares of NASDAQ:DOCU traded down $1.59 during mid-day trading on Friday, reaching $68.99. 2,564,023 shares of the company traded hands, compared to its average volume of 2,933,302. The company's 50 day moving average price is $61.87 and its 200-day moving average price is $57.64. The firm has a market cap of $14.12 billion, a PE ratio of 132.67, a PEG ratio of 7.33 and a beta of 0.92. DocuSign has a 52 week low of $38.11 and a 52 week high of $73.80.

DocuSign (NASDAQ:DOCU - Get Free Report) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.80 by $0.17. The company had revenue of $736.03 million during the quarter, compared to the consensus estimate of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The firm's revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 EPS. On average, research analysts predict that DocuSign will post 1.01 earnings per share for the current fiscal year.

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.