Morgan Stanley Lowers DocuSign (NASDAQ:DOCU) Price Target to $92.00

DocuSign (NASDAQ:DOCU) had its price target cut by Morgan Stanley from $97.00 to $92.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have an equal weight rating on the stock.

DOCU has been the topic of several other research reports. Hsbc Global Res raised DocuSign from a “moderate sell” rating to a “hold” rating in a research note on Friday, April 11th. Wedbush reissued a “neutral” rating and issued a $100.00 target price on shares of DocuSign in a report on Friday, March 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research note on Friday, March 14th. HSBC raised shares of DocuSign from a “reduce” rating to a “hold” rating and set a $70.00 price objective on the stock in a research note on Friday, April 11th. Finally, Citigroup lifted their target price on shares of DocuSign from $113.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, DocuSign currently has a consensus rating of “Hold” and a consensus price target of $93.08.

DocuSign Price Performance

Shares of DOCU stock opened at $75.42 on Wednesday. The business’s fifty day moving average price is $81.35 and its 200 day moving average price is $83.10. The firm has a market capitalization of $15.27 billion, a PE ratio of 15.55, a P/E/G ratio of 6.94 and a beta of 1.20. DocuSign has a 1-year low of $48.70 and a 1-year high of $107.86.

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

Insiders Place Their Bets

In other DocuSign news, CFO Blake Jeffrey Grayson sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $76.09, for a total value of $608,720.00. Following the sale, the chief financial officer now directly owns 86,156 shares of the company’s stock, valued at approximately $6,555,610.04. This trade represents a 8.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James P. Shaughnessy sold 7,500 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $81.31, for a total transaction of $609,825.00. Following the transaction, the insider now directly owns 45,875 shares of the company’s stock, valued at approximately $3,730,096.25. This represents a 14.05 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 55,851 shares of company stock valued at $4,607,439. Company insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On DocuSign

Hedge funds have recently made changes to their positions in the stock. FMR LLC increased its holdings in shares of DocuSign by 178.2% during the 4th quarter. FMR LLC now owns 6,101,024 shares of the company’s stock worth $548,726,000 after buying an additional 3,908,139 shares during the last quarter. American Century Companies Inc. increased its stake in DocuSign by 18.5% during the fourth quarter. American Century Companies Inc. now owns 5,315,459 shares of the company’s stock worth $478,072,000 after acquiring an additional 831,611 shares during the last quarter. Jericho Capital Asset Management L.P. raised its holdings in shares of DocuSign by 34.0% in the 4th quarter. Jericho Capital Asset Management L.P. now owns 4,754,753 shares of the company’s stock worth $427,642,000 after purchasing an additional 1,205,500 shares during the period. Renaissance Technologies LLC lifted its stake in shares of DocuSign by 4.9% in the 4th quarter. Renaissance Technologies LLC now owns 4,363,292 shares of the company’s stock valued at $392,434,000 after purchasing an additional 205,304 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of DocuSign by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 3,732,363 shares of the company’s stock worth $335,147,000 after purchasing an additional 249,179 shares during the period. 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.