DocuSign (NASDAQ:DOCU) Given New $80.00 Price Target at UBS Group

DocuSign (NASDAQ:DOCU) had its price target cut by UBS Group from $85.00 to $80.00 in a report released on Friday,Benzinga reports. They currently have a neutral rating on the stock.

Other analysts have also issued reports about the company. Hsbc Global Res raised DocuSign from a “moderate sell” rating to a “hold” rating in a research report on Friday, April 11th. Morgan Stanley decreased their target price on DocuSign from $97.00 to $92.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. William Blair reaffirmed an “outperform” rating on shares of DocuSign in a research report on Monday, April 21st. Citigroup boosted their target price on DocuSign from $113.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, March 14th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research report on Friday. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $89.15.

DocuSign Price Performance

Shares of NASDAQ:DOCU opened at $75.28 on Friday. The company has a market capitalization of $15.24 billion, a price-to-earnings ratio of 15.52, a P/E/G ratio of 6.94 and a beta of 1.21. The business’s 50-day moving average is $82.08 and its 200-day moving average is $86.22. DocuSign has a 1 year low of $48.70 and a 1 year high of $107.86.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, June 5th. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.09. The company had revenue of $763.65 million for the quarter, compared to the consensus estimate of $748.79 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The firm’s revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.82 EPS. Analysts anticipate that DocuSign will post 1.17 EPS for the current year.

DocuSign announced that its Board of Directors has approved a share repurchase program on Thursday, June 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase up to 6.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other news, CFO Blake Jeffrey Grayson sold 16,111 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $83.20, for a total value of $1,340,435.20. Following the transaction, the chief financial officer now owns 93,960 shares in the company, valued at $7,817,472. The trade was a 14.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $87.41, for a total value of $46,676.94. Following the completion of the transaction, the director now owns 8,270 shares in the company, valued at $722,880.70. The trade was a 6.07% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,851 shares of company stock valued at $3,912,239. Corporate insiders own 1.01% of the company’s stock.

Hedge Funds Weigh In On DocuSign

Hedge funds and other institutional investors have recently modified their holdings of the business. Banque Transatlantique SA purchased a new position in shares of DocuSign in the 1st quarter worth approximately $26,000. Hemington Wealth Management boosted its stake in shares of DocuSign by 318.1% in the 1st quarter. Hemington Wealth Management now owns 347 shares of the company’s stock worth $28,000 after buying an additional 264 shares during the last quarter. Kestra Investment Management LLC purchased a new position in shares of DocuSign in the 4th quarter worth approximately $30,000. Golden State Wealth Management LLC boosted its stake in shares of DocuSign by 519.4% in the 1st quarter. Golden State Wealth Management LLC now owns 384 shares of the company’s stock worth $31,000 after buying an additional 322 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new position in shares of DocuSign in the 1st quarter worth approximately $34,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

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.