DocuSign (NASDAQ:DOCU) Earns “Sector Perform” Rating from Royal Bank of Canada

DocuSign (NASDAQ:DOCU)‘s stock had its “sector perform” rating reaffirmed by equities researchers at Royal Bank of Canada in a note issued to investors on Friday,Benzinga reports. They currently have a $90.00 price target on the stock. Royal Bank of Canada’s target price suggests a potential upside of 4.94% from the stock’s previous close.

A number of other equities research analysts have also issued reports on DOCU. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a report on Friday. Jefferies Financial Group lifted their target price on DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Robert W. Baird upped their price target on DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Hsbc Global Res upgraded DocuSign to a “moderate sell” rating in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. upgraded shares of DocuSign from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $70.00 to $75.00 in a research note on Monday, March 10th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, DocuSign presently has a consensus rating of “Hold” and a consensus target price of $95.58.

DocuSign Stock Up 14.8 %

NASDAQ:DOCU opened at $85.76 on Friday. DocuSign has a 52 week low of $48.70 and a 52 week high of $107.86. The stock’s fifty day moving average is $87.97 and its two-hundred day moving average is $79.37. The stock has a market capitalization of $17.33 billion, a price-to-earnings ratio of 17.68, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02.

DocuSign (NASDAQ:DOCU) last announced its earnings results on Thursday, March 13th. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. The company had revenue of $776.25 million during the quarter, compared to analysts’ expectations of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. DocuSign’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period last year, the business posted $0.76 EPS. On average, sell-side analysts expect that DocuSign will post 1.17 EPS for the current fiscal year.

Insider Transactions at DocuSign

In other news, Director Peter Solvik sold 10,000 shares of DocuSign stock in a transaction on Friday, January 10th. The shares were sold at an average price of $91.26, for a total value of $912,600.00. Following the transaction, the director now directly owns 150,253 shares of the company’s stock, valued at $13,712,088.78. The trade was a 6.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $86.90, for a total transaction of $695,200.00. Following the sale, the chief financial officer now owns 77,851 shares of the company’s stock, valued at approximately $6,765,251.90. This represents a 9.32 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 104,422 shares of company stock worth $9,665,394. Corporate insiders own 1.66% of the company’s stock.

Institutional Investors Weigh In On DocuSign

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Kestra Investment Management LLC acquired a new position in DocuSign in the 4th quarter valued at about $30,000. First Horizon Advisors Inc. increased its holdings in shares of DocuSign by 102.6% in the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock valued at $36,000 after purchasing an additional 201 shares during the period. Modus Advisors LLC purchased a new stake in shares of DocuSign during the fourth quarter worth approximately $36,000. Wood Tarver Financial Group LLC acquired a new stake in shares of DocuSign during the fourth quarter worth $37,000. Finally, McIlrath & Eck LLC grew its position in DocuSign by 476.0% in the 4th quarter. McIlrath & Eck LLC now owns 432 shares of the company’s stock valued at $39,000 after buying an additional 357 shares during the last quarter. 77.64% of the stock is 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.