DocuSign (NASDAQ:DOCU) Price Target Raised to $108.00

DocuSign (NASDAQ:DOCU) had its price objective lifted by stock analysts at JMP Securities from $84.00 to $108.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. JMP Securities’ price objective suggests a potential upside of 34.70% from the company’s current price.

Other research analysts have also recently issued reports about the company. Citigroup upped their price objective on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Wells Fargo & Company upped their price target on DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating 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 stock a “neutral” rating in a report on Friday, September 6th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Finally, Bank of America increased their target price on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, DocuSign currently has a consensus rating of “Hold” and an average target price of $65.80.

DocuSign Stock Performance

Shares of DocuSign stock opened at $80.18 on Friday. The business has a 50-day simple moving average of $68.94 and a 200-day simple moving average of $60.07. The company has a market cap of $16.27 billion, a PE ratio of 16.92, a P/E/G ratio of 8.41 and a beta of 0.90. DocuSign has a one year low of $42.12 and a one year high of $83.68.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. The business had revenue of $736.03 million for the quarter, compared to analyst estimates of $727.20 million. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The company’s revenue was up 7.0% on a year-over-year basis. During the same period last year, the business earned $0.09 EPS. On average, sell-side analysts predict that DocuSign will post 1.01 earnings per share for the current fiscal year.

Insider Transactions at DocuSign

In other news, CEO Allan C. Thygesen sold 7,725 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $59.09, for a total value of $456,470.25. Following the completion of the sale, the chief executive officer now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $56.56, for a total transaction of $30,203.04. Following the transaction, the director now owns 7,202 shares in the company, valued at approximately $407,345.12. This trade represents a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 69,558 shares of company stock worth $4,272,768. Company insiders own 1.66% of the company’s stock.

Institutional Trading of DocuSign

Several hedge funds have recently modified their holdings of the business. State Street Corp raised its position in DocuSign by 2.3% in the third quarter. State Street Corp now owns 5,372,939 shares of the company’s stock worth $333,604,000 after acquiring an additional 120,743 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of DocuSign by 1.9% in the 2nd 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 in the last quarter. Renaissance Technologies LLC increased its holdings in shares of 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. Pacer Advisors Inc. lifted its stake in shares of DocuSign by 77.9% in the second quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock valued at $188,318,000 after purchasing an additional 1,541,816 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in DocuSign by 1.6% during the third quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company’s stock worth $215,789,000 after buying an additional 53,554 shares in the last quarter. 77.64% of the stock is 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.