Wells Fargo & Company Issues Pessimistic Forecast for DocuSign (NASDAQ:DOCU) Stock Price

DocuSign (NASDAQ:DOCU - Get Free Report) had its price target reduced by stock analysts at Wells Fargo & Company from $73.00 to $65.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an "underweight" rating on the stock. Wells Fargo & Company's price target indicates a potential downside of 20.86% from the stock's current price.

Other equities research analysts have also issued reports about the company. Hsbc Global Res upgraded DocuSign from a "moderate sell" rating to a "hold" rating in a research report on Friday, April 11th. William Blair reissued an "outperform" rating on shares of DocuSign in a research note on Monday. Jefferies Financial Group reduced their target price on DocuSign from $115.00 to $105.00 and set a "buy" rating on the stock in a report on Monday, March 31st. HSBC upgraded DocuSign from a "reduce" rating to a "hold" rating and set a $70.00 target price for the company in a research report on Friday, April 11th. Finally, Citigroup increased their price objective on shares of DocuSign from $113.00 to $115.00 and gave the company a "buy" rating in a research note on Friday, March 14th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, DocuSign currently has an average rating of "Hold" and a consensus price target of $92.46.

DocuSign Stock Performance

Shares of DOCU traded up $0.46 during mid-day trading on Tuesday, reaching $82.13. 47,058 shares of the company were exchanged, compared to its average volume of 2,729,610. The business has a 50 day simple moving average of $80.43 and a two-hundred day simple moving average of $83.47. DocuSign has a 52 week low of $48.70 and a 52 week high of $107.86. The stock has a market capitalization of $16.63 billion, a PE ratio of 16.84, a PEG ratio of 6.94 and a beta of 1.20.

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

Insiders Place Their Bets

In other DocuSign news, CFO Blake Jeffrey Grayson sold 8,000 shares of DocuSign stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $86.90, for a total transaction of $695,200.00. Following the transaction, the chief financial officer now owns 77,851 shares of the company's stock, valued at $6,765,251.90. The trade was a 9.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Teresa Briggs sold 534 shares of the company's 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 directly owns 8,270 shares in the company, valued at approximately $722,880.70. The trade was a 6.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,851 shares of company stock valued at $4,607,439 in the last quarter. Insiders own 1.66% of the company's stock.

Institutional Investors Weigh In On DocuSign

A number of hedge funds have recently bought and sold shares of the company. Bessemer Group Inc. grew its position in DocuSign by 27.5% in the first quarter. Bessemer Group Inc. now owns 602 shares of the company's stock valued at $49,000 after acquiring an additional 130 shares during the period. Citizens Financial Group Inc. RI increased its position in shares of DocuSign by 2.3% in the 4th quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company's stock valued at $539,000 after buying an additional 133 shares in the last quarter. Rakuten Securities Inc. increased its stake in DocuSign by 20.9% during the 4th quarter. Rakuten Securities Inc. now owns 797 shares of the company's stock worth $72,000 after purchasing an additional 138 shares in the last quarter. Synergy Financial Group LTD increased its holdings in DocuSign by 3.4% during 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 in the last quarter. Finally, M&T Bank Corp grew 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 worth $975,000 after acquiring an additional 143 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors.

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.