Citigroup Raises Docusign (NASDAQ:DOCU) Price Target to $85.00

Docusign (NASDAQ:DOCU) had its price target lifted by Citigroup from $72.00 to $85.00 in a note issued to investors on Friday, The Fly reports. Citigroup‘s price objective points to a potential upside of 12.48% from the company’s current price.

A number of other research firms have also recently weighed in on DOCU. Bank of America lifted their price objective on Docusign from $62.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday. Morgan Stanley increased their target price on shares of Docusign from $61.00 to $67.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. JPMorgan Chase & Co. increased their target price on shares of Docusign from $88.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. FBN Securities set a $65.00 target price on shares of Docusign and gave the stock a “buy” rating in a research note on Friday, September 6th. Finally, Deutsche Bank lifted their price target on shares of Docusign from $70.00 to $80.00 and gave the company a “buy” rating in a report on Friday. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $74.75.

Shares of Docusign stock opened at $75.57 on Friday. 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 stock’s fifty day moving average is $67.85 and its 200 day moving average is $57.15. Docusign has a one year low of $36.25 and a one year high of $75.85.

Docusign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, December 5th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.08. The business had revenue of $249.50 million during the quarter, compared to analyst estimates of $240.40 million. Docusign had a negative return on equity of 26.51% and a negative net margin of 25.28%. The company’s quarterly revenue was up 39.9% compared to the same quarter last year. On average, equities analysts expect that Docusign will post -1.04 earnings per share for the current fiscal year.

In other news, COO Scott V. Olrich sold 2,000 shares of Docusign stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $66.69, for a total transaction of $133,380.00. Following the sale, the chief operating officer now owns 497,770 shares in the company, valued at $33,196,281.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Kirsten O. Wolberg sold 7,877 shares of the business’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $61.29, for a total transaction of $482,781.33. Insiders have sold 44,698 shares of company stock valued at $2,849,129 in the last quarter. 13.60% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of DOCU. Jericho Capital Asset Management L.P. bought a new position in shares of Docusign during the 3rd quarter valued at about $77,119,000. Metropolitan Life Insurance Co NY increased its holdings in shares of Docusign by 95.2% in the third quarter. Metropolitan Life Insurance Co NY now owns 11,252 shares of the company’s stock worth $697,000 after purchasing an additional 5,489 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of Docusign in the third quarter worth about $50,881,000. Man Group plc lifted its position in shares of Docusign by 306.5% in the third quarter. Man Group plc now owns 66,319 shares of the company’s stock worth $4,106,000 after buying an additional 50,003 shares in the last quarter. Finally, Voloridge Investment Management LLC bought a new position in Docusign during the third quarter valued at approximately $7,785,000. 81.67% of the stock is owned by institutional investors.

Docusign Company Profile

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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