HSBC Reiterates “Reduce” Rating for DocuSign (NASDAQ:DOCU)

HSBC restated their reduce rating on shares of DocuSign (NASDAQ:DOCU) in a research note published on Friday morning, Marketbeat.com reports.

A number of other equities research analysts also recently issued reports on the stock. Jefferies Financial Group lifted their price target on shares of DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Morgan Stanley raised their price objective on shares of DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Friday. Robert W. Baird raised their price objective on shares of DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday. Piper Sandler raised their price objective on shares of DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, JMP Securities raised their price objective on shares of DocuSign from $108.00 to $124.00 and gave the stock a “market outperform” rating in a research note on Friday. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $92.45.

DocuSign Stock Performance

Shares of DOCU stock opened at $106.99 on Friday. DocuSign has a 1 year low of $44.34 and a 1 year high of $107.86. The firm has a market cap of $21.72 billion, a price-to-earnings ratio of 22.06, a PEG ratio of 8.70 and a beta of 0.92. The stock’s 50-day moving average is $74.66 and its two-hundred day moving average is $62.04.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. The firm had revenue of $736.03 million during 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 firm’s revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.09 earnings per share. As a group, research analysts predict that DocuSign will post 1.03 EPS for the current year.

Insider Buying and Selling at DocuSign

In other news, insider Robert Chatwani sold 14,799 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total transaction of $820,752.54. Following the completion of the transaction, the insider now directly owns 70,748 shares of the company’s stock, valued at approximately $3,923,684.08. This trade represents a 17.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Allan C. Thygesen sold 7,648 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $62.47, for a total transaction of $477,770.56. Following the transaction, the chief executive officer now directly owns 115,589 shares of the company’s stock, valued at $7,220,844.83. The trade was a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,596 shares of company stock valued at $4,441,529 in the last ninety days. Company insiders own 1.66% of the company’s stock.

Institutional Investors Weigh In On DocuSign

A number of hedge funds have recently made changes to their positions in DOCU. Comerica Bank increased its position in shares of DocuSign by 228.8% during the 1st quarter. Comerica Bank now owns 28,901 shares of the company’s stock worth $1,721,000 after purchasing an additional 20,110 shares in the last quarter. Cetera Investment Advisers increased its position in shares of DocuSign by 455.7% during the 1st quarter. Cetera Investment Advisers now owns 45,709 shares of the company’s stock worth $2,722,000 after purchasing an additional 37,484 shares in the last quarter. Cetera Advisors LLC increased its position in shares of DocuSign by 38.0% during the 1st quarter. Cetera Advisors LLC now owns 12,866 shares of the company’s stock worth $766,000 after purchasing an additional 3,542 shares in the last quarter. Mather Group LLC. increased its position in shares of DocuSign by 4,338.5% during the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after purchasing an additional 564 shares in the last quarter. Finally, CWM LLC increased its position in DocuSign by 23.6% in the 2nd quarter. CWM LLC now owns 31,082 shares of the company’s stock valued at $1,663,000 after acquiring an additional 5,941 shares in the last quarter. Institutional investors and hedge funds 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.