DocuSign (NASDAQ:DOCU) Given Sector Perform Rating at Royal Bank of Canada

Royal Bank of Canada reaffirmed their sector perform rating on shares of DocuSign (NASDAQ:DOCU) in a research report report published on Friday,Benzinga reports. They currently have a $90.00 target price on the stock.

Other analysts have also recently issued reports about the stock. Bank of America lowered their price objective on shares of DocuSign from $112.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday. HSBC reissued a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. Citigroup reissued a “buy” rating on shares of DocuSign in a research note on Thursday, March 6th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research note on Friday. Finally, JMP Securities reissued a “market outperform” rating and set a $124.00 price objective on shares of DocuSign in a research note on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $95.58.

DocuSign Stock Performance

DOCU stock opened at $85.76 on Friday. The stock has a market capitalization of $17.33 billion, a P/E ratio of 17.68, a PEG ratio of 6.94 and a beta of 1.02. DocuSign has a one year low of $48.70 and a one year high of $107.86. The company has a 50 day moving average price of $87.97 and a two-hundred day moving average price of $79.52.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, March 13th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.84 by $0.02. The firm had revenue of $776.25 million during the quarter, compared to analysts’ expectations of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. DocuSign’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.76 EPS. Research analysts forecast that DocuSign will post 1.17 earnings per share for the current fiscal year.

Insider Activity at DocuSign

In other DocuSign news, CFO Blake Jeffrey Grayson sold 15,588 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $97.78, for a total value of $1,524,194.64. Following the transaction, the chief financial officer now owns 85,851 shares in the company, valued at $8,394,510.78. The trade was a 15.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider James P. Shaughnessy sold 7,500 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $90.17, for a total transaction of $676,275.00. Following the completion of the transaction, the insider now owns 43,781 shares in the company, valued at $3,947,732.77. This represents a 14.63 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 95,888 shares of company stock worth $8,856,718. 1.66% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DocuSign

A number of institutional investors have recently added to or reduced their stakes in DOCU. FMR LLC lifted its holdings in DocuSign by 178.2% in the 4th quarter. FMR LLC now owns 6,101,024 shares of the company’s stock worth $548,726,000 after buying an additional 3,908,139 shares in the last quarter. Invesco Ltd. lifted its holdings in DocuSign by 283.9% in the 4th quarter. Invesco Ltd. now owns 3,447,275 shares of the company’s stock worth $310,048,000 after buying an additional 2,549,310 shares in the last quarter. Norges Bank acquired a new stake in shares of DocuSign in the 4th quarter valued at about $223,196,000. Arrowstreet Capital Limited Partnership raised its stake in shares of DocuSign by 201.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,158,311 shares of the company’s stock valued at $194,118,000 after purchasing an additional 1,442,639 shares in the last quarter. Finally, Jericho Capital Asset Management L.P. raised its stake in shares of DocuSign by 34.0% in the 4th quarter. Jericho Capital Asset Management L.P. now owns 4,754,753 shares of the company’s stock valued at $427,642,000 after purchasing an additional 1,205,500 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.