DocuSign, Inc. (NASDAQ:DOCU) Receives Consensus Rating of “Hold” from Brokerages

DocuSign, Inc. (NASDAQ:DOCU) has received a consensus rating of “Hold” from the eleven ratings firms that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $63.40.

A number of analysts have recently commented on DOCU shares. Wells Fargo & Company boosted their price target on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Robert W. Baird boosted their price objective on shares of DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Citigroup boosted their price objective on shares of DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Finally, Piper Sandler decreased their price objective on shares of DocuSign from $65.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, June 7th.

DocuSign Stock Down 1.1 %

Shares of DOCU opened at $61.42 on Wednesday. The business’s 50 day moving average price is $56.52 and its 200-day moving average price is $56.41. DocuSign has a 52 week low of $38.11 and a 52 week high of $64.76. The stock has a market cap of $12.57 billion, a P/E ratio of 118.12, a P/E/G ratio of 6.37 and a beta of 0.93.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The firm had revenue of $736.03 million for the quarter, compared to analysts’ expectations of $727.20 million. During the same period in the previous year, the firm posted $0.09 EPS. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, equities analysts anticipate that DocuSign will post 0.99 EPS for the current year.

Insider Buying and Selling at DocuSign

In other DocuSign news, insider Stephen Shute sold 35,300 shares of the business’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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Stephen Shute sold 35,300 shares of the company’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $52.87, for a total value of $1,866,311.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert Chatwani sold 14,799 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $55.46, for a total value of $820,752.54. Following the completion of the sale, the insider now owns 70,748 shares of the company’s stock, valued at $3,923,684.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 438,154 shares of company stock worth $23,351,788. Insiders own 1.66% of the company’s stock.

Institutional Investors Weigh In On DocuSign

Hedge funds and other institutional investors have recently modified their holdings of the stock. Massmutual Trust Co. FSB ADV boosted its holdings in DocuSign by 5,000.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after buying an additional 500 shares during the period. Mather Group LLC. boosted its holdings in DocuSign by 4,338.5% in the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after buying an additional 564 shares during the period. Register Financial Advisors LLC bought a new position in DocuSign in the 1st quarter worth $37,000. nVerses Capital LLC bought a new position in DocuSign in the 2nd quarter worth $48,000. Finally, Jones Financial Companies Lllp bought a new position in DocuSign in the 4th quarter worth $59,000. 77.64% of the stock is currently 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.