DocuSign (NASDAQ:DOCU) Price Target Increased to $50.00 by Analysts at Wells Fargo & Company

DocuSign (NASDAQ:DOCU) had its price objective hoisted by Wells Fargo & Company from $48.00 to $50.00 in a research note released on Friday, Benzinga reports. Wells Fargo & Company currently has an underweight rating on the stock.

DOCU has been the subject of several other reports. Royal Bank of Canada decreased their target price on DocuSign from $59.00 to $52.00 and set a sector perform rating for the company in a research report on Friday, June 7th. Bank of America cut their price objective on shares of DocuSign from $72.00 to $60.00 and set a neutral rating on the stock in a report on Friday, June 7th. Needham & Company LLC reissued a hold rating on shares of DocuSign in a research note on Friday. Morgan Stanley dropped their target price on DocuSign from $65.00 to $62.00 and set an equal weight rating on the stock in a research report on Friday, June 7th. Finally, Robert W. Baird lifted their price target on DocuSign from $55.00 to $59.00 and gave the company a neutral rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $61.45.

DocuSign Stock Performance

NASDAQ DOCU opened at $59.19 on Friday. The company has a market capitalization of $12.12 billion, a P/E ratio of 113.83, a P/E/G ratio of 9.74 and a beta of 0.93. DocuSign has a one year low of $38.11 and a one year high of $64.76. The stock has a 50 day moving average price of $55.44 and a 200-day moving average price of $55.86.

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

Insider Activity at DocuSign

In other DocuSign news, Director Daniel D. Springer sold 70,983 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $49.84, for a total value of $3,537,792.72. Following the completion of the sale, the director now owns 891,373 shares of the company’s stock, valued at $44,426,030.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other DocuSign news, Director Daniel D. Springer sold 70,983 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $49.84, for a total transaction of $3,537,792.72. Following the transaction, the director now owns 891,373 shares in the company, valued at approximately $44,426,030.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James P. Shaughnessy sold 1,800 shares of DocuSign stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $50.98, for a total transaction of $91,764.00. Following the sale, the insider now owns 35,703 shares of the company’s stock, valued at $1,820,138.94. The disclosure for this sale can be found here. Insiders have sold 482,418 shares of company stock valued at $25,524,100 in the last ninety days. Corporate insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Massmutual Trust Co. FSB ADV increased its holdings in DocuSign by 5,000.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after buying an additional 500 shares during the period. Mather Group LLC. boosted its holdings in shares of DocuSign by 4,338.5% in the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock valued at $31,000 after acquiring an additional 564 shares during the last quarter. Register Financial Advisors LLC acquired a new stake in shares of DocuSign in the first quarter worth $37,000. ICA Group Wealth Management LLC acquired a new position in DocuSign during the fourth quarter valued at $39,000. Finally, nVerses Capital LLC purchased a new stake in DocuSign in the second quarter valued at $48,000. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

About DocuSign

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.