DocuSign’s (DOCU) Neutral Rating Reiterated at Wedbush

DocuSign (NASDAQ:DOCU)‘s stock had its “neutral” rating reissued by investment analysts at Wedbush in a report released on Friday,Benzinga reports. They presently have a $100.00 target price on the stock. Wedbush’s target price would indicate a potential upside of 16.91% from the company’s previous close.

A number of other brokerages have also commented on DOCU. JPMorgan Chase & Co. upgraded DocuSign from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $70.00 to $75.00 in a research report on Monday. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research report on Friday. JMP Securities reaffirmed a “market outperform” rating and issued a $124.00 price objective on shares of DocuSign in a research note on Tuesday, January 7th. Hsbc Global Res upgraded shares of DocuSign to a “moderate sell” rating in a research report on Friday, December 6th. Finally, Bank of America lowered their target price on shares of DocuSign from $112.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, DocuSign currently has a consensus rating of “Hold” and an average price target of $96.25.

DocuSign Stock Up 14.5 %

DocuSign stock traded up $10.84 during mid-day trading on Friday, hitting $85.54. 3,602,425 shares of the company were exchanged, compared to its average volume of 2,210,246. DocuSign has a 1-year low of $48.70 and a 1-year high of $107.86. The business has a fifty day moving average of $88.06 and a 200 day moving average of $79.04. The company has a market capitalization of $17.28 billion, a PE ratio of 17.51, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, March 13th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The company had revenue of $776.25 million for the quarter, compared to analyst estimates of $760.94 million. During the same quarter in the previous year, the firm earned $0.76 earnings per share. The business’s revenue was up 9.0% on a year-over-year basis. Research analysts expect that DocuSign will post 1.17 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Blake Jeffrey Grayson sold 15,588 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $97.78, for a total transaction of $1,524,194.64. Following the sale, the chief financial officer now owns 85,851 shares in the company, valued at $8,394,510.78. This represents a 15.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Allan C. Thygesen sold 40,000 shares of DocuSign stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the completion of the sale, the chief executive officer now directly owns 156,050 shares of the company’s stock, valued at approximately $14,050,742. This trade represents a 20.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 104,422 shares of company stock worth $9,665,394 over the last ninety days. 1.66% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On DocuSign

A number of institutional investors and hedge funds have recently modified their holdings of the business. US Bancorp DE increased its position in shares of DocuSign by 12.6% during the third quarter. US Bancorp DE now owns 3,561 shares of the company’s stock worth $221,000 after purchasing an additional 398 shares in the last quarter. Apollon Wealth Management LLC purchased a new position in DocuSign in the third quarter valued at $203,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in DocuSign by 10.4% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 475,113 shares of the company’s stock valued at $29,500,000 after purchasing an additional 44,615 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of DocuSign by 211.4% in the third quarter. Victory Capital Management Inc. now owns 409,877 shares of the company’s stock worth $25,449,000 after acquiring an additional 278,252 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its stake in DocuSign by 9.7% during the third quarter. Oppenheimer Asset Management Inc. now owns 5,442 shares of the company’s stock worth $338,000 after purchasing an additional 481 shares during the period. 77.64% of the stock is owned by institutional investors.

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.