Bank of America Boosts DocuSign (NASDAQ:DOCU) Price Target to $68.00

DocuSign (NASDAQ:DOCU) had its target price hoisted by stock analysts at Bank of America from $60.00 to $68.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Bank of America‘s price target points to a potential upside of 14.88% from the stock’s current price.

Several other equities research analysts also recently commented on the stock. Citigroup dropped their price objective on shares of DocuSign from $93.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, June 5th. Piper Sandler reduced their price objective on shares of DocuSign from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, June 7th. Robert W. Baird increased their target price on DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a report on Friday. Finally, Royal Bank of Canada boosted their price objective on DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, DocuSign presently has a consensus rating of “Hold” and an average price target of $61.45.

DocuSign Stock Up 4.0 %

DOCU opened at $59.19 on Friday. The company’s 50-day moving average price is $55.44 and its two-hundred day moving average price is $55.90. DocuSign has a twelve month low of $38.11 and a twelve month high of $64.76. The stock has a market cap of $12.12 billion, a price-to-earnings ratio of 113.83, a PEG ratio of 9.74 and a beta of 0.93.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.17. The business had revenue of $736.03 million during the quarter, compared to analyst estimates of $727.20 million. DocuSign had a return on equity of 15.44% and a net margin of 3.81%. DocuSign’s revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.09 earnings per share. As a group, sell-side analysts anticipate that DocuSign will post 0.83 earnings per share for the current year.

Insider Buying and Selling at DocuSign

In other news, insider Stephen Shute sold 35,300 shares of the business’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $52.87, for a total transaction of $1,866,311.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Stephen Shute sold 35,300 shares of the firm’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $52.87, for a total transaction of $1,866,311.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider James P. Shaughnessy sold 1,800 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $50.98, for a total transaction of $91,764.00. Following the completion of the transaction, the insider now owns 35,703 shares of the company’s stock, valued at $1,820,138.94. The disclosure for this sale can be found here. Insiders have sold a total of 482,418 shares of company stock valued at $25,524,100 in the last 90 days. Corporate insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of DOCU. Metis Global Partners LLC bought a new position in shares of DocuSign during the 4th quarter valued at $208,000. Charles Schwab Investment Management Inc. grew its stake in shares of DocuSign by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,260,296 shares of the company’s stock valued at $74,925,000 after buying an additional 44,646 shares during the last quarter. Comerica Bank increased its holdings in shares of DocuSign by 228.8% in the first quarter. Comerica Bank now owns 28,901 shares of the company’s stock worth $1,721,000 after buying an additional 20,110 shares during the period. Vanguard Group Inc. lifted its stake in shares of DocuSign by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 21,399,739 shares of the company’s stock valued at $1,272,214,000 after acquiring an additional 417,352 shares during the last quarter. Finally, KBC Group NV boosted its holdings in DocuSign by 119.3% during the 4th quarter. KBC Group NV now owns 739,196 shares of the company’s stock valued at $43,945,000 after acquiring an additional 402,084 shares during the period. 77.64% of the stock is currently owned by 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.