DocuSign (NASDAQ:DOCU) Given New $73.00 Price Target at Wells Fargo & Company

DocuSign (NASDAQ:DOCU - Get Free Report) had its price objective boosted by analysts at Wells Fargo & Company from $70.00 to $73.00 in a report issued on Friday,Benzinga reports. The firm currently has an "underweight" rating on the stock. Wells Fargo & Company's target price would suggest a potential downside of 14.88% from the company's current price.

Several other equities research analysts have also commented on DOCU. HSBC restated a "reduce" rating on shares of DocuSign in a research note on Friday, December 6th. JMP Securities restated a "market outperform" rating and issued a $124.00 price target on shares of DocuSign in a research note on Tuesday, January 7th. Hsbc Global Res upgraded shares of DocuSign to a "moderate sell" rating in a research note on Friday, December 6th. UBS Group raised their price target on shares of DocuSign from $60.00 to $100.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Finally, Jefferies Financial Group raised their price target on shares of DocuSign from $80.00 to $95.00 and gave the company a "buy" rating in a research note on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, DocuSign has a consensus rating of "Hold" and a consensus price target of $95.58.

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DocuSign Trading Up 14.8 %

NASDAQ DOCU traded up $11.06 during trading hours on Friday, reaching $85.76. The company's stock had a trading volume of 11,927,431 shares, compared to its average volume of 2,402,407. The business has a 50-day simple moving average of $87.97 and a 200 day simple moving average of $79.37. DocuSign has a 52 week low of $48.70 and a 52 week high of $107.86. The stock has a market cap of $17.33 billion, a PE ratio of 17.68, a PEG ratio of 6.94 and a beta of 1.02.

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

Insider Buying and Selling

In related news, CFO Blake Jeffrey Grayson sold 8,000 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $94.77, for a total value of $758,160.00. Following the completion of the transaction, the chief financial officer now owns 101,439 shares of the company's stock, valued at approximately $9,613,374.03. This trade represents a 7.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 directly owns 73,414 shares of the company's stock, valued at $7,176,952.64. This represents a 16.78 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 104,422 shares of company stock worth $9,665,394. Corporate insiders own 1.66% of the company's stock.

Hedge Funds Weigh In On DocuSign

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Citizens Financial Group Inc. RI boosted its stake in DocuSign by 2.3% in the 4th quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company's stock worth $539,000 after purchasing an additional 133 shares during the period. Rakuten Securities Inc. boosted its stake in DocuSign by 20.9% in the 4th quarter. Rakuten Securities Inc. now owns 797 shares of the company's stock worth $72,000 after purchasing an additional 138 shares during the period. Synergy Financial Group LTD boosted its stake in DocuSign by 3.4% in the 4th quarter. Synergy Financial Group LTD now owns 4,241 shares of the company's stock worth $381,000 after purchasing an additional 140 shares during the period. M&T Bank Corp boosted its stake in shares of DocuSign by 1.3% during the 4th quarter. M&T Bank Corp now owns 10,840 shares of the company's stock valued at $975,000 after buying an additional 143 shares during the period. Finally, TD Waterhouse Canada Inc. boosted its stake in shares of DocuSign by 34.5% during the 4th quarter. TD Waterhouse Canada Inc. now owns 557 shares of the company's stock valued at $50,000 after buying an additional 143 shares during the period. Institutional investors and hedge funds own 77.64% of the company's stock.

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.