DocuSign, Inc. (NASDAQ:DOCU) Given Consensus Recommendation of “Hold” by Analysts

Shares of DocuSign, Inc. (NASDAQ:DOCU) have been given a consensus rating of “Hold” by the eleven ratings firms that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $65.80.

DOCU has been the topic of several recent research reports. Royal Bank of Canada raised their price target on DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a report on Friday, September 6th. Citigroup raised their price target on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Robert W. Baird raised their price target on DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. JMP Securities raised their price target on DocuSign from $84.00 to $108.00 and gave the stock a “market outperform” rating in a report on Friday, November 22nd. Finally, Bank of America raised their price target on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, September 6th.

DocuSign Stock Down 5.8 %

Shares of NASDAQ:DOCU opened at $80.38 on Thursday. DocuSign has a 52-week low of $42.13 and a 52-week high of $86.75. The stock’s fifty day simple moving average is $71.11 and its 200-day simple moving average is $60.79. The company has a market capitalization of $16.31 billion, a P/E ratio of 16.96, a P/E/G ratio of 9.05 and a beta of 0.90.

DocuSign (NASDAQ:DOCU) last announced its quarterly 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. The company had revenue of $736.03 million during the quarter, compared to analyst estimates of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The firm’s revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.09 earnings per share. On average, sell-side analysts anticipate that DocuSign will post 1.01 earnings per share for the current year.

Insider Activity

In other news, CEO Allan C. Thygesen sold 7,725 shares of DocuSign stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $59.09, for a total transaction of $456,470.25. Following the transaction, the chief executive officer now directly owns 102,193 shares in the company, valued at approximately $6,038,584.37. This trade represents a 7.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Blake Jeffrey Grayson sold 14,036 shares of DocuSign stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $55.47, for a total value of $778,576.92. Following the transaction, the chief financial officer now owns 87,611 shares in the company, valued at approximately $4,859,782.17. This trade represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,558 shares of company stock worth $4,272,768. 1.66% of the stock is owned by company insiders.

Institutional Trading of DocuSign

Hedge funds and other institutional investors have recently modified their holdings of the business. Inspire Investing LLC acquired a new stake in shares of DocuSign in the third quarter worth $911,000. Comerica Bank boosted its position in shares of DocuSign by 228.8% in the first quarter. Comerica Bank now owns 28,901 shares of the company’s stock worth $1,721,000 after buying an additional 20,110 shares during the period. International Assets Investment Management LLC boosted its position in shares of DocuSign by 5,660.8% in the third quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock worth $27,252,000 after buying an additional 431,295 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of DocuSign by 7.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,296,517 shares of the company’s stock worth $80,501,000 after buying an additional 85,987 shares during the period. Finally, Carrera Capital Advisors acquired a new stake in DocuSign during the third quarter valued at $666,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

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.