Docusign (NASDAQ:DOCU) Given New $93.00 Price Target at Royal Bank of Canada

Docusign (NASDAQ:DOCU) had its price objective lifted by Royal Bank of Canada from $80.00 to $93.00 in a report released on Monday morning, The Fly reports. They currently have an outperform rating on the stock.

Other research analysts also recently issued reports about the company. Citigroup upped their price target on Docusign from $60.00 to $72.00 and gave the stock a buy rating in a research note on Friday, September 6th. FBN Securities set a $65.00 price objective on shares of Docusign and gave the company a buy rating in a research report on Friday, September 6th. Evercore ISI started coverage on shares of Docusign in a report on Monday, November 4th. They issued an outperform rating and a $80.00 target price on the stock. KeyCorp set a $65.00 target price on shares of Docusign and gave the stock a buy rating in a research report on Friday, September 6th. Finally, Piper Jaffray Companies initiated coverage on shares of Docusign in a research note on Friday, November 8th. They set a neutral rating and a $75.00 target price for the company. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $70.25.

NASDAQ DOCU opened at $69.92 on Monday. The firm has a market cap of $12.53 billion, a price-to-earnings ratio of -24.11 and a beta of 1.46. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 1.06. The business has a 50-day moving average price of $67.51 and a 200-day moving average price of $56.80. Docusign has a twelve month low of $36.25 and a twelve month high of $73.22.

Docusign (NASDAQ:DOCU) last released its earnings results on Thursday, September 5th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.24. The firm had revenue of $235.61 million during the quarter, compared to analysts’ expectations of $220.81 million. Docusign had a negative return on equity of 26.70% and a negative net margin of 28.20%. The firm’s revenue was up 41.0% on a year-over-year basis. During the same quarter last year, the business posted $0.03 earnings per share. Research analysts expect that Docusign will post -1.04 EPS for the current fiscal year.

In related news, COO Scott V. Olrich sold 2,000 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $59.50, for a total value of $119,000.00. Also, CTO Kirsten O. Wolberg sold 7,877 shares of the firm’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $61.29, for a total transaction of $482,781.33. Insiders have sold a total of 68,698 shares of company stock worth $4,184,489 over the last ninety days. Insiders own 13.60% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. North Star Investment Management Corp. bought a new stake in shares of Docusign in the 3rd quarter worth about $25,000. Hartford Financial Management Inc. bought a new position in shares of Docusign in the 3rd quarter valued at about $31,000. Whittier Trust Co. grew its position in Docusign by 229.4% in the third quarter. Whittier Trust Co. now owns 560 shares of the company’s stock worth $35,000 after acquiring an additional 390 shares in the last quarter. Wealthcare Advisory Partners LLC purchased a new position in Docusign in the second quarter worth about $36,000. Finally, Migdal Insurance & Financial Holdings Ltd. grew its position in Docusign by 261.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 769 shares of the company’s stock worth $38,000 after acquiring an additional 556 shares in the last quarter. 81.67% of the stock is currently owned by institutional investors.

About Docusign

DocuSign, Inc provides cloud based software in the United States. The company offers e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. The company sells its products through direct, partner-assisted, and Web-based sales. It serves enterprise businesses, commercial businesses, and small businesses, such as professionals, sole proprietorships and individuals.

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Analyst Recommendations for Docusign (NASDAQ:DOCU)

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