DocuSign (NASDAQ:DOCU) Price Target Raised to $108.00

DocuSign (NASDAQ:DOCU) had its price target boosted by JMP Securities from $84.00 to $108.00 in a research report released on Friday,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

A number of other analysts have also commented on the company. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Royal Bank of Canada lifted their target price on DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a report on Friday, September 6th. Wells Fargo & Company lifted their target price on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Robert W. Baird raised their price target on DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Finally, Bank of America raised their price target on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, DocuSign has a consensus rating of “Hold” and a consensus target price of $65.80.

DocuSign Stock Up 3.6 %

DOCU stock opened at $83.03 on Friday. DocuSign has a twelve month low of $42.13 and a twelve month high of $83.68. The firm has a market cap of $16.85 billion, a PE ratio of 17.52, a price-to-earnings-growth ratio of 8.48 and a beta of 0.90. The business has a 50 day moving average of $69.47 and a 200 day moving average of $60.27.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. The company had revenue of $736.03 million during the quarter, compared to analyst estimates of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the company earned $0.09 EPS. On average, research analysts expect that DocuSign will post 1.01 earnings per share for the current fiscal year.

Insider Activity at DocuSign

In other news, CFO Blake Jeffrey Grayson sold 14,036 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $55.47, for a total value of $778,576.92. Following the transaction, the chief financial officer now directly owns 87,611 shares in the company, valued at $4,859,782.17. The trade was a 13.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Allan C. Thygesen sold 7,764 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $69.95, for a total value of $543,091.80. Following the completion of the transaction, the chief executive officer now owns 107,825 shares in the company, valued at $7,542,358.75. The trade was a 6.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,558 shares of company stock worth $4,272,768. Corporate insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On DocuSign

Several large investors have recently made changes to their positions in the business. Massmutual Trust Co. FSB ADV increased its holdings in shares of DocuSign by 5,000.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after purchasing an additional 500 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of DocuSign in the third quarter worth about $28,000. Mather Group LLC. increased its holdings in shares of DocuSign by 4,338.5% in the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after purchasing an additional 564 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of DocuSign in the third quarter worth about $33,000. Finally, Reston Wealth Management LLC bought a new stake in shares of DocuSign in the third quarter worth about $47,000. 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.