Royal Bank of Canada Lowers DocuSign (NASDAQ:DOCU) Price Target to $52.00

DocuSign (NASDAQ:DOCUGet Free Report) had its target price dropped by equities research analysts at Royal Bank of Canada from $59.00 to $52.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 3.57% from the company’s current price.

Several other research firms have also recently commented on DOCU. Citigroup reduced their target price on DocuSign from $93.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday. Robert W. Baird reduced their target price on DocuSign from $65.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a report on Friday. JMP Securities reissued a “market outperform” rating and issued a $84.00 target price on shares of DocuSign in a research note on Friday, April 12th. Finally, UBS Group raised DocuSign from a “sell” rating to a “neutral” rating and boosted their target price for the company from $48.00 to $62.00 in a research note on Friday, April 12th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, DocuSign currently has an average rating of “Hold” and an average target price of $59.33.

Read Our Latest Research Report on DOCU

DocuSign Price Performance

Shares of DOCU traded down $4.39 during mid-day trading on Friday, hitting $50.21. The stock had a trading volume of 4,165,972 shares, compared to its average volume of 2,894,922. The firm has a market cap of $10.31 billion, a P/E ratio of 138.48, a PEG ratio of 4.63 and a beta of 0.89. The business has a fifty day moving average price of $57.86 and a 200-day moving average price of $56.03. DocuSign has a 52 week low of $38.11 and a 52 week high of $64.76.

DocuSign (NASDAQ:DOCUGet Free Report) last announced its quarterly earnings results on Thursday, March 7th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.06. The company had revenue of $712.39 million during the quarter, compared to analysts’ expectations of $698.05 million. DocuSign had a return on equity of 13.91% and a net margin of 2.68%. As a group, research analysts expect that DocuSign will post 0.87 earnings per share for the current fiscal year.

Insider Buying and Selling at DocuSign

In other DocuSign news, insider Stephen Shute sold 15,109 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $57.02, for a total transaction of $861,515.18. Following the sale, the insider now directly owns 8,959 shares in the company, valued at approximately $510,842.18. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Teresa Briggs sold 499 shares of the stock in a transaction on Friday, May 31st. The stock was sold at an average price of $54.92, for a total transaction of $27,405.08. Following the transaction, the director now directly owns 6,668 shares of the company’s stock, valued at approximately $366,206.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen Shute sold 15,109 shares of the stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $57.02, for a total value of $861,515.18. Following the transaction, the insider now directly owns 8,959 shares in the company, valued at $510,842.18. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,512 shares of company stock worth $2,746,767. Insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On DocuSign

A number of institutional investors have recently bought and sold shares of the stock. New York State Teachers Retirement System raised its holdings in DocuSign by 0.9% in the 4th quarter. New York State Teachers Retirement System now owns 18,282 shares of the company’s stock worth $1,087,000 after purchasing an additional 163 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its holdings in DocuSign by 2.7% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,975 shares of the company’s stock worth $415,000 after purchasing an additional 184 shares during the period. Whittier Trust Co. raised its holdings in DocuSign by 28.8% in the 4th quarter. Whittier Trust Co. now owns 935 shares of the company’s stock worth $56,000 after purchasing an additional 209 shares during the period. Motley Fool Asset Management LLC raised its holdings in DocuSign by 6.0% in the 1st quarter. Motley Fool Asset Management LLC now owns 3,960 shares of the company’s stock worth $236,000 after purchasing an additional 224 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in DocuSign by 0.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 83,899 shares of the company’s stock valued at $4,617,000 after acquiring an additional 239 shares during the period. 77.64% of the stock is owned by institutional investors.

DocuSign Company Profile

(Get Free Report)

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.

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Analyst Recommendations for DocuSign (NASDAQ:DOCU)

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