Morgan Stanley Issues Positive Forecast for DocuSign (NASDAQ:DOCU) Stock Price

DocuSign (NASDAQ:DOCU) had its price objective boosted by Morgan Stanley from $62.00 to $97.00 in a research note published on Friday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities analysts also recently commented on the company. JMP Securities raised their target price on DocuSign from $108.00 to $124.00 and gave the stock a “market outperform” rating in a research report on Friday. Piper Sandler lifted their price objective on DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday. Royal Bank of Canada restated a “sector perform” rating and issued a $90.00 target price (up from $57.00) on shares of DocuSign in a research note on Friday. Bank of America upped their price target on shares of DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Finally, JPMorgan Chase & Co. increased their price objective on shares of DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a report on Tuesday. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $92.45.

DocuSign Price Performance

Shares of DocuSign stock opened at $106.99 on Friday. The company’s fifty day moving average price is $74.66 and its two-hundred day moving average price is $62.00. The firm has a market capitalization of $21.72 billion, a PE ratio of 22.57, a price-to-earnings-growth ratio of 8.33 and a beta of 0.92. DocuSign has a 52-week low of $44.34 and a 52-week high of $107.86.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.17. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The firm had revenue of $736.03 million during the quarter, compared to analyst estimates of $727.20 million. During the same quarter in the prior year, the business posted $0.09 earnings per share. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. Analysts predict that DocuSign will post 1.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Blake Jeffrey Grayson sold 9,552 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $68.80, for a total transaction of $657,177.60. Following the completion of the transaction, the chief financial officer now directly owns 78,265 shares in the company, valued at approximately $5,384,632. The trade was a 10.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Allan C. Thygesen sold 7,763 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $80.54, for a total transaction of $625,232.02. Following the completion of the sale, the chief executive officer now owns 100,062 shares in the company, valued at $8,058,993.48. This represents a 7.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 69,596 shares of company stock valued at $4,441,529. Company insiders own 1.66% of the company’s stock.

Institutional Investors Weigh In On DocuSign

Several large investors have recently bought and sold shares of the company. Inspire Investing LLC bought a new position in shares of DocuSign during the third quarter worth $911,000. Charles Schwab Investment Management Inc. lifted its holdings in DocuSign by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock worth $82,478,000 after acquiring an additional 16,014 shares in the last quarter. Comerica Bank grew its stake in DocuSign by 228.8% in the first quarter. Comerica Bank now owns 28,901 shares of the company’s stock valued at $1,721,000 after acquiring an additional 20,110 shares during the period. International Assets Investment Management LLC increased its holdings in shares of DocuSign by 5,660.8% in the third quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock worth $27,252,000 after acquiring an additional 431,295 shares in the last quarter. Finally, Quantinno Capital Management LP raised its position in shares of DocuSign by 39.5% during the third quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock worth $12,514,000 after purchasing an additional 57,104 shares during the period. Institutional investors own 77.64% of the company’s stock.

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.