DocuSign (NASDAQ:DOCU) Given Hold Rating at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of DocuSign (NASDAQ:DOCU) in a research report sent to investors on Friday morning,Benzinga reports.

DOCU has been the topic of several other reports. HSBC restated a “reduce” rating on shares of DocuSign in a report on Friday, December 6th. JMP Securities restated a “market outperform” rating and set a $124.00 price objective on shares of DocuSign in a report on Tuesday, January 7th. Robert W. Baird lifted their price objective on DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Citigroup restated a “buy” rating on shares of DocuSign in a report on Thursday, March 6th. Finally, Jefferies Financial Group lifted their price objective on DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $95.58.

DocuSign Stock Performance

Shares of NASDAQ:DOCU opened at $85.76 on Friday. The company has a market cap of $17.33 billion, a P/E ratio of 17.68, a PEG ratio of 6.94 and a beta of 1.02. DocuSign has a one year low of $48.70 and a one year high of $107.86. The business’s 50-day simple moving average is $87.97 and its 200 day simple moving average is $79.52.

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

Insider Transactions at DocuSign

In related news, insider Robert Chatwani sold 14,800 shares of the business’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 in the company, valued at $7,176,952.64. The trade was a 16.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $86.90, for a total value of $695,200.00. Following the transaction, the chief financial officer now owns 77,851 shares of the company’s stock, valued at $6,765,251.90. This represents a 9.32 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 95,888 shares of company stock worth $8,856,718. 1.66% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Citizens Financial Group Inc. RI boosted its position in DocuSign by 2.3% during the 4th quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company’s stock worth $539,000 after acquiring an additional 133 shares during the period. Rakuten Securities Inc. boosted its position in DocuSign by 20.9% during the 4th quarter. Rakuten Securities Inc. now owns 797 shares of the company’s stock worth $72,000 after acquiring an additional 138 shares during the period. Synergy Financial Group LTD boosted its position in DocuSign by 3.4% during the 4th quarter. Synergy Financial Group LTD now owns 4,241 shares of the company’s stock worth $381,000 after acquiring an additional 140 shares during the period. M&T Bank Corp boosted its position in DocuSign by 1.3% during the 4th quarter. M&T Bank Corp now owns 10,840 shares of the company’s stock worth $975,000 after acquiring an additional 143 shares during the period. Finally, TD Waterhouse Canada Inc. boosted its position in DocuSign by 34.5% during the 4th quarter. TD Waterhouse Canada Inc. now owns 557 shares of the company’s stock worth $50,000 after acquiring an additional 143 shares during the period. Institutional investors and hedge funds 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.