DocuSign, Inc. (NASDAQ:DOCU) Receives Consensus Rating of “Hold” from Brokerages

DocuSign, Inc. (NASDAQ:DOCU) has earned an average rating of “Hold” from the twelve brokerages that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $59.36.

A number of analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research report on Friday. JMP Securities reiterated a “market outperform” rating and set a $84.00 target price on shares of DocuSign in a report on Wednesday, July 10th. Royal Bank of Canada decreased their price target on DocuSign from $59.00 to $52.00 and set a “sector perform” rating for the company in a report on Friday, June 7th. Bank of America dropped their price objective on shares of DocuSign from $72.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, June 7th. Finally, Morgan Stanley decreased their target price on shares of DocuSign from $65.00 to $62.00 and set an “equal weight” rating for the company in a research note on Friday, June 7th.

Insiders Place Their Bets

In other DocuSign news, Director Teresa Briggs sold 499 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $54.92, for a total value of $27,405.08. Following the completion of the transaction, the director now owns 6,668 shares in the company, valued at approximately $366,206.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other DocuSign news, Director Teresa Briggs sold 499 shares of DocuSign stock in a transaction on Friday, May 31st. The stock was sold at an average price of $54.92, for a total transaction of $27,405.08. Following the sale, the director now owns 6,668 shares of the company’s stock, valued at approximately $366,206.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Allan C. Thygesen sold 7,911 shares of the 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 completion of the transaction, the chief executive officer now directly 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. Insiders have sold 475,192 shares of company stock valued at $25,095,034 over the last three months. Company insiders own 1.66% of the company’s stock.

Institutional Trading of DocuSign

Institutional investors have recently made changes to their positions in the stock. Coatue Management LLC acquired a new stake in shares of DocuSign during the 4th quarter valued at $288,274,000. Jericho Capital Asset Management L.P. boosted its position in shares of DocuSign by 316.6% in the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,417,908 shares of the company’s stock valued at $203,536,000 after purchasing an additional 2,597,489 shares during the period. Norges Bank acquired a new position in shares of DocuSign in the 4th quarter valued at $133,826,000. Thrivent Financial for Lutherans purchased a new position in DocuSign in the 2nd quarter worth about $115,795,000. Finally, Pacer Advisors Inc. raised its holdings in DocuSign by 77.9% during the 2nd quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock worth $188,318,000 after buying an additional 1,541,816 shares during the period. 77.64% of the stock is owned by institutional investors and hedge funds.

DocuSign Price Performance

Shares of NASDAQ:DOCU opened at $56.80 on Tuesday. The business has a 50-day moving average of $53.57 and a two-hundred day moving average of $55.37. The firm has a market capitalization of $11.63 billion, a PE ratio of 109.23, a P/E/G ratio of 8.34 and a beta of 0.94. 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, June 6th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.09. DocuSign had a net margin of 3.81% and a return on equity of 15.44%. The firm had revenue of $709.64 million during the quarter, compared to the consensus estimate of $706.07 million. As a group, research analysts anticipate that DocuSign will post 0.88 earnings per share for the current year.

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.