DocuSign (NASDAQ:DOCU) Price Target Raised to $68.00

DocuSign (NASDAQ:DOCU) had its price target raised by equities research analysts at Bank of America from $60.00 to $68.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Bank of America‘s price target points to a potential upside of 14.83% from the stock’s current price.

A number of other analysts also recently issued reports on the company. Piper Sandler dropped their price target on DocuSign from $65.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, June 7th. Citigroup dropped their price target on DocuSign from $93.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, June 5th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Friday. JMP Securities restated a “market outperform” rating and issued a $84.00 target price on shares of DocuSign in a research report on Thursday. Finally, Royal Bank of Canada boosted their target price on DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $61.36.

DocuSign Trading Up 4.0 %

Shares of DOCU traded up $2.29 during trading hours on Friday, reaching $59.22. 5,173,108 shares of the company’s stock traded hands, compared to its average volume of 2,665,427. The stock has a market cap of $12.12 billion, a PE ratio of 113.58, a price-to-earnings-growth ratio of 9.74 and a beta of 0.93. The firm’s 50 day simple moving average is $55.32 and its 200-day simple moving average is $55.80. DocuSign has a 12 month low of $38.11 and a 12 month high of $64.76.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. The firm had revenue of $736.03 million during the quarter, compared to the consensus estimate of $727.20 million. DocuSign had a return on equity of 15.44% and a net margin of 3.81%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the company posted $0.09 EPS. As a group, analysts expect that DocuSign will post 0.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Allan C. Thygesen sold 7,911 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $53.77, for a total value of $425,374.47. Following the sale, the chief executive officer now directly owns 117,643 shares of the company’s stock, valued at $6,325,664.11. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other DocuSign news, CEO Allan C. Thygesen sold 7,725 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $54.89, for a total transaction of $424,025.25. Following the sale, the chief executive officer now owns 109,918 shares in the company, valued at approximately $6,033,399.02. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Allan C. Thygesen sold 7,911 shares of DocuSign stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $53.77, for a total transaction of $425,374.47. Following the sale, the chief executive officer now owns 117,643 shares in the company, valued at approximately $6,325,664.11. The disclosure for this sale can be found here. Insiders have sold a total of 482,418 shares of company stock valued at $25,524,100 over the last ninety days. Company insiders own 1.66% of the company’s stock.

Institutional Investors Weigh In On DocuSign

Institutional investors and hedge funds have recently modified their holdings of the stock. Massmutual Trust Co. FSB ADV grew its holdings in shares of DocuSign by 5,000.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock valued at $27,000 after purchasing an additional 500 shares in the last quarter. Mather Group LLC. grew its holdings in shares of DocuSign by 4,338.5% in the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock valued at $31,000 after purchasing an additional 564 shares in the last quarter. Register Financial Advisors LLC purchased a new position in shares of DocuSign in the first quarter valued at $37,000. ICA Group Wealth Management LLC purchased a new position in shares of DocuSign in the fourth quarter valued at $39,000. Finally, nVerses Capital LLC purchased a new position in shares of DocuSign in the second quarter valued at $48,000. 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.