DocuSign (NASDAQ:DOCU) Price Target Raised to $115.00 at Citigroup

DocuSign (NASDAQ:DOCU) had its target price increased by equities researchers at Citigroup from $113.00 to $115.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price suggests a potential upside of 34.10% from the stock’s previous close.

DOCU has been the subject of a number of other reports. Jefferies Financial Group upped their price target on DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research note on Friday. JPMorgan Chase & Co. raised DocuSign from an “underweight” rating to a “neutral” rating and upped their price target for the company from $70.00 to $75.00 in a research note on Monday, March 10th. JMP Securities reaffirmed a “market outperform” rating and issued a $124.00 price target on shares of DocuSign in a research note on Tuesday, January 7th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $100.00 price target on shares of DocuSign in a research note on Friday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, DocuSign has a consensus rating of “Hold” and an average price target of $95.58.

DocuSign Stock Up 14.8 %

Shares of NASDAQ DOCU opened at $85.76 on Friday. The firm’s 50-day simple moving average is $87.97 and its 200 day simple moving average is $79.37. The company has a market cap 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 has a 12-month low of $48.70 and a 12-month high of $107.86.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.02. The firm 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%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.76 EPS. On average, equities analysts expect that DocuSign will post 1.17 earnings per share for the current year.

Insiders Place Their Bets

In other DocuSign news, insider Robert Chatwani sold 14,800 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $97.76, for a total transaction of $1,446,848.00. Following the completion of the transaction, the insider now owns 73,414 shares of the company’s stock, valued at $7,176,952.64. This represents a 16.78 % decrease in their position. The transaction 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 company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $86.90, for a total value of $695,200.00. Following the transaction, the chief financial officer now directly owns 77,851 shares of the company’s stock, valued at approximately $6,765,251.90. This trade represents a 9.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 104,422 shares of company stock valued at $9,665,394 in the last quarter. 1.66% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DocuSign

Several large investors have recently made changes to their positions in DOCU. Itau Unibanco Holding S.A. acquired a new stake in shares of DocuSign in the 3rd quarter valued at approximately $28,000. Kestra Investment Management LLC acquired a new stake in shares of DocuSign in the 4th quarter valued at approximately $30,000. Brooklyn Investment Group acquired a new stake in shares of DocuSign in the 3rd quarter valued at approximately $33,000. Modus Advisors LLC acquired a new stake in shares of DocuSign in the 4th quarter valued at approximately $36,000. Finally, First Horizon Advisors Inc. boosted its holdings in shares of DocuSign by 102.6% in the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock valued at $36,000 after buying an additional 201 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

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.