Analysts Set DocuSign, Inc. (NASDAQ:DOCU) PT at $61.45

DocuSign, Inc. (NASDAQ:DOCU) has received a consensus recommendation of “Hold” from the twelve brokerages that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $61.45.

Several research analysts recently issued reports on DOCU shares. Wells Fargo & Company raised their target price on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Piper Sandler cut their target price on DocuSign from $65.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, June 7th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. Citigroup upped their price objective on shares of DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Finally, JMP Securities reiterated a “market outperform” rating and set a $84.00 price objective on shares of DocuSign in a report on Thursday, September 5th.

DocuSign Trading Up 1.4 %

Shares of DOCU stock opened at $55.31 on Friday. The firm has a market capitalization of $11.32 billion, a price-to-earnings ratio of 106.37, a PEG ratio of 9.73 and a beta of 0.93. The business’s 50-day moving average price is $55.48 and its 200-day moving average price is $56.00. DocuSign has a 12 month low of $38.11 and a 12 month high of $64.76.

DocuSign (NASDAQ:DOCU) last posted its earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.80 by $0.17. DocuSign had a net margin of 34.56% and a return on equity of 19.50%. The business had revenue of $736.03 million for the quarter, compared to the consensus estimate of $727.20 million. During the same period last year, the company earned $0.09 EPS. The firm’s revenue was up 7.0% compared to the same quarter last year. On average, sell-side analysts predict 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 DocuSign stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $53.77, for a total value of $425,374.47. Following the completion of the sale, the chief executive officer now owns 117,643 shares of the company’s stock, valued at approximately $6,325,664.11. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other DocuSign news, CEO Allan C. Thygesen sold 7,725 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $59.09, for a total transaction of $456,470.25. Following the sale, the chief executive officer now owns 102,193 shares in the company, valued at $6,038,584.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Allan C. Thygesen sold 7,911 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 117,643 shares of the company’s stock, valued at approximately $6,325,664.11. The disclosure for this sale can be found here. Over the last three months, insiders have sold 480,618 shares of company stock worth $25,432,336. 1.66% of the stock is owned by company insiders.

Institutional Investors Weigh In On DocuSign

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