DocuSign (NASDAQ:DOCU) Rating Reiterated by JMP Securities

DocuSign (NASDAQ:DOCUGet Free Report)‘s stock had its “market outperform” rating reiterated by equities research analysts at JMP Securities in a report issued on Wednesday, Benzinga reports. They currently have a $84.00 target price on the stock. JMP Securities’ price objective indicates a potential upside of 58.07% from the company’s current price.

A number of other equities analysts have also recently weighed in on the company. Robert W. Baird cut their price target on DocuSign from $65.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, June 7th. Bank of America cut their target price on shares of DocuSign from $72.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, June 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research note on Friday, June 7th. UBS Group upgraded shares of DocuSign from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $48.00 to $62.00 in a report on Friday, April 12th. Finally, Piper Sandler decreased their target price on shares of DocuSign from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, June 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $59.36.

Get Our Latest Stock Analysis on DocuSign

DocuSign Price Performance

DOCU traded up $1.23 during midday trading on Wednesday, reaching $53.14. 716,662 shares of the company’s stock were exchanged, compared to its average volume of 2,931,918. DocuSign has a 1-year low of $38.11 and a 1-year high of $64.76. The stock has a market capitalization of $10.88 billion, a PE ratio of 102.37, a P/E/G ratio of 4.47 and a beta of 0.94. The business’s 50-day moving average price is $55.25 and its 200 day moving average price is $56.45.

DocuSign (NASDAQ:DOCUGet Free Report) last issued its quarterly earnings data on Thursday, June 6th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.09. DocuSign had a net margin of 3.81% and a return on equity of 15.44%. The business had revenue of $709.64 million during the quarter, compared to analysts’ expectations of $706.07 million. As a group, analysts expect that DocuSign will post 0.88 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Blake Jeffrey Grayson sold 49,123 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $51.15, for a total value of $2,512,641.45. Following the transaction, the chief financial officer now owns 70,473 shares in the company, valued at $3,604,693.95. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Blake Jeffrey Grayson sold 49,123 shares of DocuSign stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $51.15, for a total value of $2,512,641.45. Following the completion of the sale, the chief financial officer now owns 70,473 shares in the company, valued at $3,604,693.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Allan C. Thygesen sold 8,086 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $56.16, for a total transaction of $454,109.76. Following the transaction, the chief executive officer now owns 99,546 shares in the company, valued at $5,590,503.36. The disclosure for this sale can be found here. Insiders sold a total of 117,518 shares of company stock worth $6,149,670 over the last ninety days. 1.66% of the stock is owned by company insiders.

Hedge Funds Weigh In On DocuSign

A number of hedge funds have recently bought and sold shares of DOCU. Coatue Management LLC acquired a new position in shares of DocuSign in the 4th quarter worth approximately $288,274,000. Jericho Capital Asset Management L.P. boosted its holdings in DocuSign by 316.6% in the first quarter. Jericho Capital Asset Management L.P. now owns 3,417,908 shares of the company’s stock worth $203,536,000 after purchasing an additional 2,597,489 shares during the period. Norges Bank acquired a new position in DocuSign in the fourth quarter worth $133,826,000. International Assets Investment Management LLC increased its stake in DocuSign by 4,438.8% during the fourth quarter. International Assets Investment Management LLC now owns 521,912 shares of the company’s stock valued at $31,028,000 after purchasing an additional 510,413 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of DocuSign by 2.4% during the third quarter. Vanguard Group Inc. now owns 20,982,387 shares of the company’s stock worth $881,260,000 after purchasing an additional 482,472 shares during the period. 77.64% of the stock is currently owned by institutional investors and hedge funds.

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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