DocuSign (NASDAQ:DOCU) Rating Reiterated by Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of DocuSign (NASDAQ:DOCU) in a research note issued to investors on Friday morning, Benzinga reports.

A number of other research firms have also recently commented on DOCU. Citigroup dropped their target price on shares of DocuSign from $93.00 to $86.00 and set a buy rating for the company in a report on Wednesday, June 5th. Robert W. Baird raised their target price on shares of DocuSign from $55.00 to $59.00 and gave the company a neutral rating in a research report on Friday. Piper Sandler decreased their target price on shares of DocuSign from $65.00 to $60.00 and set a neutral rating on the stock in a research note on Friday, June 7th. Bank of America dropped their price target on DocuSign from $72.00 to $60.00 and set a neutral rating for the company in a research note on Friday, June 7th. Finally, Morgan Stanley reduced their price objective 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. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus price target of $61.45.

DocuSign Price Performance

Shares of NASDAQ:DOCU opened at $56.04 on Friday. DocuSign has a 1 year low of $38.11 and a 1 year high of $64.76. The stock has a market capitalization of $11.47 billion, a price-to-earnings ratio of 107.77, a price-to-earnings-growth ratio of 9.73 and a beta of 0.93. The company’s 50 day simple moving average is $55.45 and its 200 day simple moving average is $55.99.

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 the consensus estimate of $0.80 by $0.17. DocuSign had a return on equity of 19.50% and a net margin of 34.56%. The company had revenue of $736.03 million for the quarter, compared to analyst estimates of $727.20 million. During the same quarter last year, the company posted $0.09 EPS. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, analysts anticipate that DocuSign will post 0.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other DocuSign news, Director Daniel D. Springer sold 70,983 shares of the company’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 sale, the director now owns 891,373 shares in the company, valued at approximately $44,426,030.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other DocuSign news, Director Daniel D. Springer sold 70,983 shares of the firm’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 completion of the transaction, the director now owns 891,373 shares in the company, valued at approximately $44,426,030.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Blake Jeffrey Grayson sold 49,123 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $51.15, for a total transaction of $2,512,641.45. Following the completion of the sale, the chief financial officer now directly owns 70,473 shares in the company, valued at $3,604,693.95. The disclosure for this sale can be found here. In the last three months, insiders have sold 480,618 shares of company stock valued at $25,432,336. 1.66% of the stock is currently owned by company insiders.

Institutional Trading of DocuSign

A number of large investors have recently bought and sold shares of the business. Massmutual Trust Co. FSB ADV boosted its position in shares of DocuSign by 5,000.0% during the 2nd 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. boosted its holdings in shares of DocuSign by 4,338.5% during the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after buying an additional 564 shares in the last quarter. Register Financial Advisors LLC acquired a new stake in shares of DocuSign during the 1st quarter worth approximately $37,000. ICA Group Wealth Management LLC acquired a new stake in shares of DocuSign during the 4th quarter worth approximately $39,000. Finally, nVerses Capital LLC bought a new stake in shares of DocuSign in the 2nd quarter valued at $48,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.

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.