Analysts Set DocuSign, Inc. (NASDAQ:DOCU) Price Target at $95.00

DocuSign, Inc. (NASDAQ:DOCU) has received an average recommendation of “Hold” from the fifteen brokerages that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $95.00.

Several research analysts recently weighed in on DOCU shares. Bank of America cut their price target on shares of DocuSign from $112.00 to $98.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. Morgan Stanley boosted their target price on DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. William Blair raised DocuSign from a “market perform” rating to an “outperform” rating in a research report on Monday, March 17th. Robert W. Baird set a $93.00 price target on DocuSign in a report on Friday, March 14th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $90.00 price objective on shares of DocuSign in a research note on Friday, March 14th.

DocuSign Stock Down 2.9 %

Shares of DocuSign stock opened at $83.18 on Wednesday. DocuSign has a 52 week low of $48.70 and a 52 week high of $107.86. The business has a 50 day moving average price of $87.18 and a 200-day moving average price of $81.17. The company has a market cap of $16.84 billion, a PE ratio of 17.15, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02.

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

Insider Activity

In related news, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $87.41, for a total transaction of $46,676.94. Following the sale, the director now directly owns 8,270 shares in the company, valued at approximately $722,880.70. The trade was 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, CEO Allan C. Thygesen sold 40,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total value of $3,601,600.00. Following the completion of the transaction, the chief executive officer now owns 156,050 shares of the company’s stock, valued at approximately $14,050,742. This represents a 20.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,851 shares of company stock valued at $8,579,369 over the last quarter. Company insiders own 1.66% of the company’s stock.

Institutional Trading of DocuSign

A number of hedge funds and other institutional investors have recently bought and sold shares of DOCU. Citizens Financial Group Inc. RI grew its position in shares of DocuSign by 2.3% during the 4th quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company’s stock valued at $539,000 after purchasing an additional 133 shares in the last quarter. Rakuten Securities Inc. grew its position in DocuSign by 20.9% during the fourth quarter. Rakuten Securities Inc. now owns 797 shares of the company’s stock worth $72,000 after buying an additional 138 shares in the last quarter. Synergy Financial Group LTD grew its position in DocuSign by 3.4% during the fourth quarter. Synergy Financial Group LTD now owns 4,241 shares of the company’s stock worth $381,000 after buying an additional 140 shares in the last quarter. M&T Bank Corp increased its stake in DocuSign by 1.3% in the 4th quarter. M&T Bank Corp now owns 10,840 shares of the company’s stock worth $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% in the 4th quarter. TD Waterhouse Canada Inc. now owns 557 shares of the company’s stock valued at $50,000 after acquiring an additional 143 shares in the last quarter. 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.