DocuSign (NASDAQ:DOCU) Given New $90.00 Price Target at Piper Sandler

DocuSign (NASDAQ:DOCU) had its price objective boosted by Piper Sandler from $60.00 to $90.00 in a report issued on Friday,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

DOCU has been the topic of a number of other reports. Wells Fargo & Company lifted their price objective on shares of DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a report on Friday. JPMorgan Chase & Co. lifted their price objective on shares of DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a report on Tuesday, December 3rd. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a report on Friday. Citigroup boosted their price target on shares of DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Finally, Royal Bank of Canada boosted their price target on shares of DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a report on Friday, September 6th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $92.45.

DocuSign Price Performance

DOCU opened at $106.99 on Friday. The company has a market capitalization of $21.72 billion, a price-to-earnings ratio of 22.06, a P/E/G ratio of 8.70 and a beta of 0.92. The firm’s fifty day moving average price is $74.66 and its two-hundred day moving average price is $62.04. DocuSign has a 1 year low of $44.34 and a 1 year high of $107.86.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. The firm had revenue of $736.03 million for the quarter, compared to the consensus estimate of $727.20 million. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.09 EPS. As a group, equities analysts anticipate that DocuSign will post 1.03 EPS for the current year.

Insider Activity

In related news, CEO Allan C. Thygesen sold 7,648 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $62.47, for a total value of $477,770.56. Following the transaction, the chief executive officer now directly owns 115,589 shares in the company, valued at approximately $7,220,844.83. This represents a 6.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $56.56, for a total transaction of $30,203.04. Following the completion of the transaction, the director now owns 7,202 shares in the company, valued at approximately $407,345.12. This trade represents a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,596 shares of company stock worth $4,441,529 over the last ninety days. Company insiders own 1.66% of the company’s stock.

Institutional Trading of DocuSign

Several hedge funds and other institutional investors have recently bought and sold shares of DOCU. Thrivent Financial for Lutherans purchased a new stake in DocuSign in the second quarter worth approximately $115,795,000. Pacer Advisors Inc. boosted its stake in shares of DocuSign by 77.9% during the second quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock valued at $188,318,000 after purchasing an additional 1,541,816 shares during the period. KBC Group NV boosted its stake in shares of DocuSign by 209.8% during the third quarter. KBC Group NV now owns 1,156,874 shares of the company’s stock valued at $71,830,000 after purchasing an additional 783,419 shares during the period. Renaissance Technologies LLC boosted its stake in shares of DocuSign by 18.3% during the second quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock valued at $199,518,000 after purchasing an additional 576,414 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ boosted its stake in shares of DocuSign by 151.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 865,872 shares of the company’s stock valued at $46,324,000 after purchasing an additional 521,292 shares during the period. Hedge funds and other institutional investors own 77.64% of the company’s stock.

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.