DocuSign (NASDAQ:DOCU) Price Target Raised to $124.00

DocuSign (NASDAQ:DOCU) had its price objective lifted by JMP Securities from $108.00 to $124.00 in a report released on Friday,Benzinga reports. They currently have a market outperform rating on the stock.

Other equities analysts also recently issued research reports about the stock. Bank of America raised their price target 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. Jefferies Financial Group lifted their target price on DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Wells Fargo & Company increased their price target on DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Citigroup lifted their price objective on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research report on Friday. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $92.45.

DocuSign Trading Up 27.9 %

DocuSign stock opened at $106.99 on Friday. The company has a market capitalization of $21.72 billion, a PE ratio of 22.06, a P/E/G ratio of 8.70 and a beta of 0.92. The stock has a 50-day moving average price of $74.66 and a two-hundred day moving average price of $62.04. DocuSign has a 12 month low of $44.34 and a 12 month high of $107.86.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings data on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) 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 business had revenue of $736.03 million during the quarter, compared to analyst estimates of $727.20 million. During the same quarter last year, the business earned $0.09 EPS. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. As a group, analysts predict that DocuSign will post 1.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Allan C. Thygesen sold 7,763 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $80.54, for a total value of $625,232.02. Following the transaction, the chief executive officer now owns 100,062 shares in the company, valued at approximately $8,058,993.48. This represents a 7.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert Chatwani sold 14,799 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $55.46, for a total value of $820,752.54. Following the completion of the sale, the insider now directly owns 70,748 shares of the company’s stock, valued at $3,923,684.08. This represents a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,596 shares of company stock valued at $4,441,529 in the last three months. 1.66% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in DOCU. Thrivent Financial for Lutherans bought a new stake in shares of DocuSign during the 2nd quarter valued at $115,795,000. Pacer Advisors Inc. increased its position 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 buying an additional 1,541,816 shares during the period. KBC Group NV lifted its holdings in shares of DocuSign by 209.8% in the third quarter. KBC Group NV now owns 1,156,874 shares of the company’s stock worth $71,830,000 after buying an additional 783,419 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of DocuSign by 18.3% in the second quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock valued at $199,518,000 after acquiring an additional 576,414 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ boosted its position in shares of DocuSign by 151.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 865,872 shares of the company’s stock valued at $46,324,000 after acquiring an additional 521,292 shares during the period. Institutional investors 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.