Analysts Set DocuSign, Inc. (NASDAQ:DOCU) PT at $92.46

DocuSign, Inc. (NASDAQ:DOCU) has received an average recommendation of “Hold” from the sixteen research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $92.46.

A number of analysts have commented on DOCU shares. Bank of America reduced their target price on shares of DocuSign from $112.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, March 14th. William Blair reaffirmed an “outperform” rating on shares of DocuSign in a report on Monday, April 21st. Jefferies Financial Group reduced their target price on shares of DocuSign from $115.00 to $105.00 and set a “buy” rating for the company in a report on Monday, March 31st. UBS Group reduced their target price on shares of DocuSign from $90.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 price objective on shares of DocuSign in a research note on Friday, March 14th.

DocuSign Stock Up 2.1%

Shares of DocuSign stock opened at $92.42 on Thursday. The company has a market cap of $18.72 billion, a price-to-earnings ratio of 19.06, a price-to-earnings-growth ratio of 6.94 and a beta of 1.21. The company’s 50 day moving average is $81.19 and its 200 day moving average is $85.20. DocuSign has a twelve month low of $48.70 and a twelve month high of $107.86.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings data on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, beating 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 company had revenue of $776.25 million for the quarter, compared to the consensus estimate of $760.94 million. During the same quarter in the prior year, the firm earned $0.76 earnings per share. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. Sell-side analysts expect that DocuSign will post 1.17 EPS for the current fiscal year.

Insider Activity at DocuSign

In other news, CFO Blake Jeffrey Grayson sold 16,111 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $83.20, for a total transaction of $1,340,435.20. Following the sale, the chief financial officer now directly owns 93,960 shares in the company, valued at approximately $7,817,472. This represents a 14.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Teresa Briggs sold 534 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $87.41, for a total transaction of $46,676.94. Following the completion of the transaction, the director now directly owns 8,270 shares of the company’s stock, valued at approximately $722,880.70. The trade was a 6.07% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,851 shares of company stock valued at $3,912,239. Corporate insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kestra Investment Management LLC purchased a new position in DocuSign in the fourth quarter worth about $30,000. Hemington Wealth Management grew its position in DocuSign by 318.1% in the first quarter. Hemington Wealth Management now owns 347 shares of the company’s stock worth $28,000 after acquiring an additional 264 shares in the last quarter. Banque Transatlantique SA purchased a new position in DocuSign in the first quarter worth about $26,000. Golden State Wealth Management LLC grew its position in DocuSign by 519.4% in the first quarter. Golden State Wealth Management LLC now owns 384 shares of the company’s stock worth $31,000 after acquiring an additional 322 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its position in DocuSign by 102.6% in the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock worth $36,000 after acquiring an additional 201 shares in the last quarter. 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.