DocuSign (NASDAQ:DOCU) Upgraded to “Outperform” at William Blair

William Blair upgraded shares of DocuSign (NASDAQ:DOCU) from a market perform rating to an outperform rating in a research report sent to investors on Monday, MarketBeat reports.

Several other analysts also recently weighed in on the company. Wells Fargo & Company boosted their price target on DocuSign from $70.00 to $73.00 and gave the company an “underweight” rating in a research note on Friday. Piper Sandler boosted their price target on DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. UBS Group dropped their price target on DocuSign from $100.00 to $90.00 and set a “neutral” rating on the stock in a research note on Friday. JMP Securities reissued a “market outperform” rating and issued a $124.00 price objective on shares of DocuSign in a report on Tuesday, January 7th. Finally, Bank of America decreased their price objective on DocuSign from $112.00 to $98.00 and set a “neutral” rating for the company in a report on Friday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $95.58.

DocuSign Price Performance

Shares of DOCU stock opened at $83.43 on Monday. The stock’s fifty day moving average price is $87.82 and its 200 day moving average price is $79.69. The company has a market cap of $16.85 billion, a price-to-earnings ratio of 17.20, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02. DocuSign has a 1-year low of $48.70 and a 1-year high of $107.86.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.02. The business had revenue of $776.25 million for the quarter, compared to the consensus estimate of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.76 EPS. As a group, equities research analysts anticipate that DocuSign will post 1.17 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $87.41, for a total value of $46,676.94. Following the completion of the transaction, the director now owns 8,270 shares of the company’s stock, valued at approximately $722,880.70. This represents a 6.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert Chatwani sold 14,800 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $97.76, for a total value of $1,446,848.00. Following the completion of the transaction, the insider now directly owns 73,414 shares of the company’s stock, valued at $7,176,952.64. The trade was a 16.78 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 96,422 shares of company stock valued at $8,903,395. 1.66% of the stock is owned by company insiders.

Hedge Funds Weigh In On DocuSign

A number of hedge funds have recently made changes to their positions in the company. Citizens Financial Group Inc. RI raised its holdings in shares of DocuSign by 2.3% during the fourth quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company’s stock valued at $539,000 after acquiring an additional 133 shares during the last quarter. Rakuten Securities Inc. raised its holdings in shares of DocuSign by 20.9% during the fourth quarter. Rakuten Securities Inc. now owns 797 shares of the company’s stock valued at $72,000 after acquiring an additional 138 shares during the last quarter. Synergy Financial Group LTD raised its holdings in shares of DocuSign by 3.4% during the fourth quarter. Synergy Financial Group LTD now owns 4,241 shares of the company’s stock valued at $381,000 after acquiring an additional 140 shares during the last quarter. M&T Bank Corp raised its holdings in shares of DocuSign by 1.3% during the fourth quarter. M&T Bank Corp now owns 10,840 shares of the company’s stock valued at $975,000 after acquiring an additional 143 shares during the last quarter. Finally, TD Waterhouse Canada Inc. raised its holdings in shares of DocuSign by 34.5% during the fourth quarter. TD Waterhouse Canada Inc. now owns 557 shares of the company’s stock valued at $50,000 after acquiring an additional 143 shares during 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.