JMP Securities Reiterates “Market Outperform” Rating for DocuSign (NASDAQ:DOCU)

DocuSign (NASDAQ:DOCU)‘s stock had its “market outperform” rating reaffirmed by research analysts at JMP Securities in a note issued to investors on Thursday, Benzinga reports. They currently have a $84.00 price target on the stock. JMP Securities’ price objective points to a potential upside of 41.92% from the company’s current price.

A number of other equities research analysts have also recently commented on the stock. Royal Bank of Canada decreased their target price on shares of DocuSign from $59.00 to $52.00 and set a “sector perform” rating on the stock in a research note on Friday, June 7th. Piper Sandler decreased their target price on shares of DocuSign from $65.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, June 7th. Citigroup decreased their target price on shares of DocuSign from $93.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday, June 5th. Morgan Stanley decreased their target price on shares of DocuSign from $65.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Friday, June 7th. Finally, Bank of America decreased their target price on shares of DocuSign from $72.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, June 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, DocuSign presently has an average rating of “Hold” and an average target price of $61.45.

DocuSign Stock Up 4.0 %

Shares of NASDAQ:DOCU opened at $59.19 on Thursday. The firm’s 50 day moving average price is $55.44 and its 200-day moving average price is $55.86. DocuSign has a twelve month low of $38.11 and a twelve month high of $64.76. The stock has a market capitalization of $12.12 billion, a PE ratio of 113.83, a price-to-earnings-growth ratio of 9.74 and a beta of 0.93.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings data on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.17. DocuSign had a net margin of 3.81% and a return on equity of 15.44%. The firm had revenue of $736.03 million for the quarter, compared to analysts’ expectations of $727.20 million. During the same quarter in the prior year, the business earned $0.09 EPS. The business’s quarterly revenue was up 7.0% on a year-over-year basis. Analysts expect that DocuSign will post 0.83 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Daniel D. Springer sold 287,052 shares of DocuSign stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $53.78, for a total transaction of $15,437,656.56. Following the sale, the director now owns 923,445 shares in the company, valued at $49,662,872.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Daniel D. Springer sold 287,052 shares of DocuSign stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $53.78, for a total transaction of $15,437,656.56. Following the sale, the director now owns 923,445 shares in the company, valued at $49,662,872.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Allan C. Thygesen sold 7,911 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $53.77, for a total transaction of $425,374.47. Following the completion of the transaction, the chief executive officer now directly owns 117,643 shares of the company’s stock, valued at $6,325,664.11. The disclosure for this sale can be found here. Insiders have sold a total of 482,418 shares of company stock worth $25,524,100 over the last quarter. Insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Sanctuary Advisors LLC purchased a new position in shares of DocuSign in the second quarter valued at $942,000. Clearbridge Investments LLC boosted its stake in DocuSign by 4.1% during the second quarter. Clearbridge Investments LLC now owns 2,920,842 shares of the company’s stock worth $156,265,000 after buying an additional 115,616 shares during the period. Truist Financial Corp boosted its stake in DocuSign by 18.1% during the second quarter. Truist Financial Corp now owns 9,138 shares of the company’s stock worth $489,000 after buying an additional 1,399 shares during the period. Quarry LP purchased a new position in DocuSign during the second quarter worth $53,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in DocuSign by 3.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 32,709 shares of the company’s stock worth $1,750,000 after buying an additional 938 shares during the period. 77.64% of the stock is owned by hedge funds and other institutional investors.

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.