Royal Bank of Canada Reaffirms "Sector Perform" Rating for DocuSign (NASDAQ:DOCU)

Royal Bank of Canada restated their sector perform rating on shares of DocuSign (NASDAQ:DOCU - Free Report) in a report published on Friday morning,Benzinga reports. The firm currently has a $90.00 target price on the stock.

DOCU has been the topic of several other reports. Wells Fargo & Company increased their target price on shares of DocuSign from $70.00 to $73.00 and gave the stock an "underweight" rating in a report on Friday. Wedbush reiterated a "neutral" rating and set a $100.00 target price on shares of DocuSign in a report on Friday. Citigroup reiterated a "buy" rating on shares of DocuSign in a report on Thursday, March 6th. Piper Sandler increased their target price on shares of DocuSign from $60.00 to $90.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Finally, UBS Group dropped their target price on shares of DocuSign from $100.00 to $90.00 and set a "neutral" rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, DocuSign presently has a consensus rating of "Hold" and an average price target of $95.58.

DocuSign Trading Up 14.8 %

Shares of NASDAQ DOCU traded up $11.06 during mid-day trading on Friday, reaching $85.76. The company had a trading volume of 11,927,431 shares, compared to its average volume of 2,402,407. The business's 50-day moving average is $87.97 and its 200-day moving average is $79.37. 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 52 week low of $48.70 and a 52 week high of $107.86.

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

Insider Buying and Selling

In related news, CFO Blake Jeffrey Grayson sold 8,000 shares of DocuSign stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $86.90, for a total value of $695,200.00. Following the completion of the sale, the chief financial officer now directly owns 77,851 shares in the company, valued at $6,765,251.90. This trade represents a 9.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert Chatwani sold 14,800 shares of DocuSign 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 104,422 shares of company stock worth $9,665,394 in the last three months. Corporate insiders own 1.66% of the company's stock.

Institutional Trading of DocuSign

Institutional investors and hedge funds have recently bought and sold shares of the business. Kestra Investment Management LLC acquired a new stake in DocuSign during the 4th quarter valued at approximately $30,000. First Horizon Advisors Inc. lifted its stake in DocuSign by 102.6% during the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock valued at $36,000 after acquiring an additional 201 shares during the period. Modus Advisors LLC acquired a new stake in DocuSign during the 4th quarter valued at approximately $36,000. Wood Tarver Financial Group LLC acquired a new stake in DocuSign during the 4th quarter valued at approximately $37,000. Finally, McIlrath & Eck LLC lifted its stake in DocuSign by 476.0% during the 4th quarter. McIlrath & Eck LLC now owns 432 shares of the company's stock valued at $39,000 after acquiring an additional 357 shares during the period. 77.64% of the stock is currently 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.