Brokerages Set DocuSign, Inc. (NASDAQ:DOCU) Price Target at $63.40

Shares of DocuSign, Inc. (NASDAQ:DOCU) have been given an average rating of “Hold” by the eleven research firms that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, seven have assigned 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 $63.40.

DOCU has been the subject of a number of analyst reports. Royal Bank of Canada boosted their price objective on DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Friday, September 6th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Robert W. Baird raised their price objective on shares of DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Bank of America boosted their target price on shares of DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Finally, Citigroup raised their price target on DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, September 6th.

DocuSign Stock Performance

Shares of DOCU stock opened at $66.89 on Wednesday. DocuSign has a fifty-two week low of $38.11 and a fifty-two week high of $68.64. The company has a 50 day moving average price of $57.14 and a 200 day moving average price of $56.53. The stock has a market capitalization of $13.69 billion, a P/E ratio of 128.63, a price-to-earnings-growth ratio of 6.37 and a beta of 0.92.

DocuSign (NASDAQ:DOCU) last posted 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 business had revenue of $736.03 million during the quarter, compared to the consensus estimate of $727.20 million. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.09 earnings per share. On average, research analysts forecast that DocuSign will post 0.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Allan C. Thygesen sold 7,648 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $62.47, for a total transaction of $477,770.56. Following the transaction, the chief executive officer now directly owns 115,589 shares in the company, valued at approximately $7,220,844.83. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Daniel D. Springer sold 70,983 shares of the business’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 transaction, the director now owns 891,373 shares in the company, valued at $44,426,030.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Allan C. Thygesen sold 7,648 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $62.47, for a total value of $477,770.56. Following the sale, the chief executive officer now directly owns 115,589 shares of the company’s stock, valued at $7,220,844.83. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 410,502 shares of company stock valued at $21,963,248 over the last quarter. Company insiders own 1.66% of the company’s stock.

Institutional Investors Weigh In On DocuSign

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in DocuSign by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 21,399,739 shares of the company’s stock valued at $1,272,214,000 after buying an additional 417,352 shares during the period. Coatue Management LLC purchased a new position in DocuSign during the fourth quarter worth about $288,274,000. American Century Companies Inc. lifted its position in DocuSign by 1.9% in the second quarter. American Century Companies Inc. now owns 4,099,400 shares of the company’s stock valued at $219,318,000 after purchasing an additional 75,026 shares during the period. Renaissance Technologies LLC boosted its holdings in DocuSign by 18.3% in the 2nd quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock valued at $199,518,000 after purchasing an additional 576,414 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of 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 in the last quarter. Hedge funds and other 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.