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

DocuSign (NASDAQ:DOCU - Get Free Report) had its price target upped by investment analysts at Wells Fargo & Company from $70.00 to $73.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an "underweight" rating on the stock. Wells Fargo & Company's price objective indicates a potential downside of 14.88% from the company's current price.

A number of other research firms have also issued reports on DOCU. Jefferies Financial Group raised their target price 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. Royal Bank of Canada restated a "sector perform" rating and issued a $90.00 price target (up from $57.00) on shares of DocuSign in a research report on Friday, December 6th. Morgan Stanley raised their price target on shares of DocuSign from $62.00 to $97.00 and gave the stock an "equal weight" rating in a research report on Friday, December 6th. HSBC restated a "reduce" rating on shares of DocuSign in a research report on Friday, December 6th. Finally, Hsbc Global Res upgraded shares of DocuSign to a "moderate sell" rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, DocuSign presently has an average rating of "Hold" and an average target price of $95.58.

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DocuSign Price Performance

NASDAQ:DOCU traded up $11.06 during midday trading on Friday, reaching $85.76. The stock had a trading volume of 11,927,431 shares, compared to its average volume of 2,402,407. DocuSign has a 1-year low of $48.70 and a 1-year high of $107.86. The firm's fifty day simple moving average is $87.97 and its 200-day simple moving average is $79.37. The stock has a market capitalization of $17.33 billion, a P/E ratio of 17.68, a PEG ratio of 6.94 and a beta of 1.02.

DocuSign (NASDAQ:DOCU - Get Free Report) last posted its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, beating 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 business had revenue of $776.25 million for the quarter, compared to analyst estimates of $760.94 million. During the same period last year, the business posted $0.76 EPS. DocuSign's revenue was up 9.0% compared to the same quarter last year. On average, equities research analysts anticipate that DocuSign will post 1.17 earnings per share for the current fiscal year.

Insider Transactions at DocuSign

In other DocuSign news, CFO Blake Jeffrey Grayson sold 8,000 shares of the business's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $86.90, for a total value of $695,200.00. Following the transaction, the chief financial officer now directly owns 77,851 shares in the company, valued at $6,765,251.90. The trade was a 9.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert Chatwani sold 14,800 shares of the business's stock in a transaction dated Wednesday, December 18th. The shares were 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 owns 73,414 shares in the company, valued at approximately $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. In the last three months, insiders sold 104,422 shares of company stock valued at $9,665,394. Company insiders own 1.66% of the company's stock.

Hedge Funds Weigh In On DocuSign

A number of large investors have recently modified their holdings of the stock. Wood Tarver Financial Group LLC acquired a new position in shares of DocuSign during the fourth quarter worth approximately $37,000. Audent Global Asset Management LLC lifted its position in shares of DocuSign by 382.6% during the fourth quarter. Audent Global Asset Management LLC now owns 27,425 shares of the company's stock worth $2,467,000 after purchasing an additional 21,742 shares in the last quarter. Siemens Fonds Invest GmbH acquired a new position in shares of DocuSign during the fourth quarter worth approximately $772,000. Fluent Financial LLC bought a new stake in shares of DocuSign during the fourth quarter worth approximately $694,000. Finally, Total Wealth Planning & Management Inc. bought a new stake in shares of DocuSign during the fourth quarter worth approximately $312,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.

About DocuSign

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.