Docusign (NASDAQ:DOCU) had its price target lifted by equities researchers at Morgan Stanley from $49.00 to $52.00 in a research note issued on Friday. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 30.47% from the stock’s previous close.
A number of other equities research analysts also recently commented on the company. JPMorgan Chase & Co. restated an “overweight” rating and issued a $88.00 target price on shares of Docusign in a research report on Thursday, September 6th. JMP Securities lifted their target price on Docusign from $63.00 to $68.00 and gave the company a “market outperform” rating in a research report on Thursday, September 6th. Bank of America lifted their target price on Docusign from $63.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, September 6th. Zacks Investment Research upgraded Docusign from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research report on Monday, September 10th. Finally, Wedbush began coverage on Docusign in a research note on Thursday, October 18th. They issued a “neutral” rating and a $45.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Docusign presently has a consensus rating of “Hold” and an average price target of $59.60.
Docusign stock traded down $1.91 during trading on Friday, reaching $39.86. 1,215,885 shares of the company were exchanged, compared to its average volume of 1,572,385. Docusign has a 52-week low of $35.06 and a 52-week high of $68.35.
In other news, Director Peter Solvik sold 1,304,348 shares of Docusign stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $55.00, for a total value of $71,739,140.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Several hedge funds and other institutional investors have recently modified their holdings of DOCU. Opera Trading Capital acquired a new stake in shares of Docusign in the third quarter valued at $101,000. Valeo Financial Advisors LLC grew its stake in Docusign by 914.5% during the 3rd quarter. Valeo Financial Advisors LLC now owns 2,790 shares of the company’s stock worth $117,000 after purchasing an additional 2,515 shares in the last quarter. Bank of Montreal Can acquired a new position in Docusign during the 2nd quarter worth $145,000. BKS Advisors LLC acquired a new position in Docusign during the 3rd quarter worth $236,000. Finally, Keybank National Association OH acquired a new position in Docusign during the 2nd quarter worth $245,000. 39.06% of the stock is owned by institutional investors and hedge funds.
DocuSign, Inc provides cloud based transaction products and services in the United States. The company offers e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. It serves large enterprises, sole proprietorships, small- to medium-sized businesses, professionals, and individuals.
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