DocuSign (NASDAQ:DOCU) Given New $70.00 Price Target at JPMorgan Chase & Co.

DocuSign (NASDAQ:DOCU) had its target price lifted by JPMorgan Chase & Co. from $50.00 to $70.00 in a research report sent to investors on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

Other research analysts have also issued reports about the stock. Bank of America lifted their price objective on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Citigroup upped their price objective on shares of DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. JMP Securities increased their price target on shares of DocuSign from $84.00 to $108.00 and gave the company a “market outperform” rating in a research report on Friday, November 22nd. Finally, Robert W. Baird upped their price objective on shares of DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, DocuSign has an average rating of “Hold” and an average price target of $70.73.

DocuSign Stock Performance

DOCU opened at $80.45 on Tuesday. DocuSign has a fifty-two week low of $44.34 and a fifty-two week high of $86.75. The firm has a 50-day moving average of $72.86 and a 200 day moving average of $61.36. The firm has a market cap of $16.33 billion, a P/E ratio of 16.97, a PEG ratio of 8.31 and a beta of 0.92.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The firm had revenue of $736.03 million during the quarter, compared to the consensus estimate of $727.20 million. During the same period in the prior year, the firm earned $0.09 EPS. The company’s revenue was up 7.0% compared to the same quarter last year. Equities research analysts predict that DocuSign will post 1.03 earnings per share for the current fiscal year.

Insider Activity at DocuSign

In related news, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction on Monday, September 16th. The shares were sold at an average price of $56.56, for a total value of $30,203.04. Following the sale, the director now owns 7,202 shares in the company, valued at $407,345.12. The trade was a 6.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Allan C. Thygesen sold 7,763 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $80.54, for a total transaction of $625,232.02. Following the transaction, the chief executive officer now directly owns 100,062 shares in the company, valued at approximately $8,058,993.48. The trade was a 7.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,596 shares of company stock worth $4,441,529 in the last three months. 1.66% of the stock is owned by insiders.

Institutional Trading of DocuSign

Large investors have recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV lifted its stake in shares of DocuSign by 5,000.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock valued at $27,000 after purchasing an additional 500 shares during the period. Itau Unibanco Holding S.A. bought a new position in DocuSign in the third quarter worth $28,000. Mather Group LLC. lifted its position in DocuSign by 4,338.5% during the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock valued at $31,000 after buying an additional 564 shares during the period. Brooklyn Investment Group bought a new stake in shares of DocuSign during the 3rd quarter valued at $33,000. Finally, Reston Wealth Management LLC purchased a new stake in shares of DocuSign in the 3rd quarter worth about $47,000. 77.64% of the stock is 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.