DocuSign (NASDAQ:DOCU) Price Target Raised to $124.00

DocuSign (NASDAQ:DOCU) had its price objective raised by JMP Securities from $108.00 to $124.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. JMP Securities’ price objective indicates a potential upside of 48.18% from the stock’s previous close.

DOCU has been the topic of a number of other research reports. Robert W. Baird lifted their target price on DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Friday. Citigroup lifted their target price on DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Jefferies Financial Group lifted their target price on DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Royal Bank of Canada lifted their target price on DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $75.91.

DocuSign Stock Performance

NASDAQ DOCU opened at $83.68 on Friday. The stock’s fifty day moving average is $73.75 and its two-hundred day moving average is $61.68. The firm has a market capitalization of $16.98 billion, a P/E ratio of 17.65, a price-to-earnings-growth ratio of 8.33 and a beta of 0.92. DocuSign has a fifty-two week low of $44.34 and a fifty-two week high of $86.75.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. The company had revenue of $736.03 million for 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 for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 earnings per share. As a group, sell-side analysts forecast that DocuSign will post 1.03 EPS for the current year.

Insider Activity at DocuSign

In related news, insider Robert Chatwani sold 14,799 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $55.46, for a total transaction of $820,752.54. Following the completion of the transaction, the insider now directly owns 70,748 shares of the company’s stock, valued at $3,923,684.08. The trade was a 17.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Allan C. Thygesen sold 7,648 shares of the business’s stock in a transaction 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 transaction, 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 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,596 shares of company stock worth $4,441,529. 1.66% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Itau Unibanco Holding S.A. acquired a new position in shares of DocuSign during the 3rd quarter worth about $28,000. Mather Group LLC. boosted its position 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 acquiring an additional 564 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of DocuSign during the 3rd quarter worth about $33,000. Reston Wealth Management LLC acquired a new position in shares of DocuSign during the 3rd quarter worth about $47,000. Finally, nVerses Capital LLC acquired a new position in shares of DocuSign during the 2nd quarter worth about $48,000. 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.