DocuSign (NASDAQ:DOCU) Receives Neutral Rating from Wedbush

Wedbush restated their neutral rating on shares of DocuSign (NASDAQ:DOCU) in a report published on Friday morning,Benzinga reports. They currently have a $100.00 target price on the stock.

A number of other research firms have also recently commented on DOCU. HSBC reiterated a “reduce” rating on shares of DocuSign in a research report on Friday, December 6th. Morgan Stanley upped their price objective on DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. Piper Sandler boosted their price target on DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a report on Friday. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $90.00 price target (up previously from $57.00) on shares of DocuSign in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, DocuSign presently has a consensus rating of “Hold” and a consensus target price of $95.58.

DocuSign Price Performance

DOCU stock opened at $85.76 on Friday. The stock has a market capitalization of $17.33 billion, a P/E ratio of 17.68, a P/E/G ratio of 6.94 and a beta of 1.02. DocuSign has a 1-year low of $48.70 and a 1-year high of $107.86. The business has a fifty day moving average price of $87.97 and a 200-day moving average price of $79.52.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.76 earnings per share. As a group, analysts anticipate that DocuSign will post 1.17 earnings per share for the current year.

Insider Transactions at DocuSign

In related news, CEO Allan C. Thygesen sold 40,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the completion of the transaction, the chief executive officer now directly owns 156,050 shares of the company’s stock, valued at approximately $14,050,742. This represents a 20.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert Chatwani sold 14,800 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $97.76, for a total value of $1,446,848.00. Following the transaction, the insider now directly owns 73,414 shares of the company’s stock, valued at approximately $7,176,952.64. The trade was a 16.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 95,888 shares of company stock valued at $8,856,718 over the last 90 days. Company insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On DocuSign

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wood Tarver Financial Group LLC bought a new position in DocuSign during the fourth quarter valued at approximately $37,000. Audent Global Asset Management LLC boosted its stake in DocuSign by 382.6% during the fourth quarter. Audent Global Asset Management LLC now owns 27,425 shares of the company’s stock valued at $2,467,000 after buying an additional 21,742 shares during the last quarter. Siemens Fonds Invest GmbH bought a new position in DocuSign during the fourth quarter valued at approximately $772,000. Fluent Financial LLC bought a new position in DocuSign during the fourth quarter valued at approximately $694,000. Finally, Total Wealth Planning & Management Inc. bought a new position in DocuSign during the fourth quarter valued at approximately $312,000. 77.64% of the stock is owned by institutional investors.

DocuSign Company Profile

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.