DocuSign (NASDAQ:DOCU) PT Raised to $70.00 at Robert W. Baird

DocuSign (NASDAQ:DOCUGet Rating) had its price objective lifted by stock analysts at Robert W. Baird from $60.00 to $70.00 in a report issued on Friday, The Fly reports. Robert W. Baird’s price target suggests a potential upside of 20.79% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Morgan Stanley decreased their price objective on DocuSign from $80.00 to $73.00 and set an “equal weight” rating on the stock in a report on Friday, June 10th. Bank of America downgraded DocuSign from a “buy” rating to a “neutral” rating and reduced their price target for the company from $120.00 to $72.00 in a report on Friday, June 10th. UBS Group reduced their price target on DocuSign from $70.00 to $65.00 and set a “neutral” rating on the stock in a report on Tuesday, August 30th. Piper Sandler downgraded DocuSign from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $65.00 to $54.00 in a report on Wednesday, July 20th. Finally, William Blair downgraded DocuSign from an “outperform” rating to a “market perform” rating in a report on Friday, June 10th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $74.92.

DocuSign Stock Up 5.1 %

DOCU opened at $57.95 on Friday. The company has a market cap of $11.59 billion, a P/E ratio of -128.77 and a beta of 1.23. The business’s 50-day moving average price is $64.37 and its 200-day moving average price is $79.08. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.06. DocuSign has a 12 month low of $53.25 and a 12 month high of $288.50.

DocuSign (NASDAQ:DOCUGet Rating) last released its quarterly earnings data on Thursday, June 9th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.04). The company had revenue of $588.69 million during the quarter, compared to analysts’ expectations of $581.85 million. DocuSign had a negative return on equity of 17.17% and a negative net margin of 4.00%. The firm’s quarterly revenue was up 25.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.03) EPS. On average, equities analysts expect that DocuSign will post -0.52 EPS for the current year.

Institutional Trading of DocuSign

Hedge funds have recently made changes to their positions in the stock. Glassman Wealth Services boosted its position in shares of DocuSign by 963.0% in the 2nd quarter. Glassman Wealth Services now owns 489 shares of the company’s stock worth $28,000 after purchasing an additional 443 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its position in DocuSign by 440.0% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 270 shares of the company’s stock valued at $28,000 after acquiring an additional 220 shares in the last quarter. HM Payson & Co. lifted its position in DocuSign by 102.8% in the 4th quarter. HM Payson & Co. now owns 217 shares of the company’s stock valued at $33,000 after acquiring an additional 110 shares in the last quarter. Bartlett & Co. LLC lifted its position in DocuSign by 43.7% in the 2nd quarter. Bartlett & Co. LLC now owns 589 shares of the company’s stock valued at $34,000 after acquiring an additional 179 shares in the last quarter. Finally, WASHINGTON TRUST Co lifted its position in DocuSign by 125.0% in the 1st quarter. WASHINGTON TRUST Co now owns 360 shares of the company’s stock valued at $38,000 after acquiring an additional 200 shares in the last quarter. 76.18% of the stock is owned by institutional investors.

About DocuSign

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DocuSign, Inc provides electronic signature software in the United States and internationally. The company provides e-signature solution that enables businesses to digitally prepare, sign, act on, and manage agreements. It also offers CLM, which automates workflows across the entire agreement process; Insights that use artificial intelligence (AI) to search and analyze agreements by legal concepts and clauses; Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce; Negotiate for Salesforce that supports for approvals, document comparisons, and version control; Analyzer, which helps customers understand what they're signing before they sign it; and CLM+ that provide AI-driven contract lifecycle management.

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