Piper Sandler Increases DocuSign (NASDAQ:DOCU) Price Target to $90.00

DocuSign (NASDAQ:DOCU) had its target price hoisted by stock analysts at Piper Sandler from $60.00 to $90.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s target price would suggest a potential downside of 15.88% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the stock. 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 research report on Tuesday, December 3rd. Jefferies Financial Group increased their price objective on shares of DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company increased their price objective on shares of DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research report on Friday. Robert W. Baird increased their price objective on shares of DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Citigroup increased their price objective on shares of DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $92.45.

DocuSign Stock Up 27.9 %

NASDAQ DOCU opened at $106.99 on Friday. The stock has a fifty day simple moving average of $74.66 and a 200 day simple moving average of $62.01. DocuSign has a twelve month low of $44.34 and a twelve month high of $107.86. The company has a market capitalization of $21.72 billion, a price-to-earnings ratio of 22.06, a PEG ratio of 8.70 and a beta of 0.92.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings results 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. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The firm had revenue of $736.03 million during the quarter, compared to the consensus estimate of $727.20 million. During the same period last year, the business posted $0.09 EPS. The business’s revenue was up 7.0% compared to the same quarter last year. Research analysts expect that DocuSign will post 1.03 earnings per share for the current fiscal year.

Insider Activity at DocuSign

In other DocuSign news, CEO Allan C. Thygesen sold 7,648 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $62.47, for a total value of $477,770.56. Following the completion of the sale, the chief executive officer now owns 115,589 shares in the company, valued at approximately $7,220,844.83. This trade represents a 6.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Teresa Briggs sold 534 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $56.56, for a total transaction of $30,203.04. Following the completion of the sale, the director now owns 7,202 shares of the company’s stock, valued at approximately $407,345.12. This trade represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 69,596 shares of company stock valued at $4,441,529. 1.66% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On DocuSign

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. purchased a new stake in shares of DocuSign during the 3rd quarter worth approximately $28,000. Mather Group LLC. raised its holdings in shares of DocuSign by 4,338.5% in the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after purchasing an additional 564 shares during the period. Brooklyn Investment Group bought a new stake in shares of DocuSign in the 3rd quarter worth approximately $33,000. Reston Wealth Management LLC bought a new stake in shares of DocuSign in the 3rd quarter worth approximately $47,000. Finally, nVerses Capital LLC bought a new stake in shares of DocuSign in the 2nd quarter worth approximately $48,000. Hedge funds and other 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.