Docusign Inc. (NASDAQ:DOCU) Receives $60.27 Consensus Price Target from Brokerages

Docusign Inc. (NASDAQ:DOCU) has been assigned an average recommendation of “Hold” from the nineteen analysts that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, fifteen have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $60.2667.

A number of brokerages recently commented on DOCU. Wall Street Zen lowered shares of Docusign from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 2nd. Citigroup raised their price objective on shares of Docusign from $50.00 to $54.00 and gave the stock a “neutral” rating in a research report on Friday, June 5th. Jefferies Financial Group upped their target price on Docusign from $45.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, June 5th. Weiss Ratings upgraded Docusign from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 14th. Finally, Wedbush dropped their price target on Docusign from $60.00 to $58.00 and set a “neutral” rating for the company in a report on Friday, June 5th.

Docusign Price Performance

DOCU stock opened at $58.10 on Friday. Docusign has a one year low of $40.16 and a one year high of $86.65. The stock has a market cap of $11.09 billion, a price-to-earnings ratio of 37.73, a price-to-earnings-growth ratio of 1.75 and a beta of 0.87. The company has a fifty day moving average price of $49.43 and a two-hundred day moving average price of $48.28.

Docusign (NASDAQ:DOCU) last issued its quarterly earnings data on Thursday, June 4th. The company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.10. The company had revenue of $830.24 million for the quarter, compared to analyst estimates of $824.71 million. Docusign had a net margin of 9.59% and a return on equity of 17.48%. The company’s revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.90 earnings per share. Research analysts anticipate that Docusign will post 2.03 EPS for the current fiscal year.

Insider Transactions at Docusign

In other Docusign news, CRO Paula Hansen sold 6,000 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $45.54, for a total transaction of $273,240.00. Following the transaction, the executive owned 89,972 shares in the company, valued at $4,097,324.88. This trade represents a 6.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James P. Shaughnessy sold 12,000 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $45.54, for a total value of $546,480.00. Following the transaction, the insider owned 52,815 shares in the company, valued at $2,405,195.10. The trade was a 18.51% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 91,695 shares of company stock worth $4,376,002. 0.59% of the stock is currently owned by company insiders.

Institutional Trading of Docusign

Hedge funds and other institutional investors have recently bought and sold shares of the business. Capital World Investors raised its position in shares of Docusign by 38.1% in the fourth quarter. Capital World Investors now owns 5,815,804 shares of the company’s stock valued at $397,801,000 after buying an additional 1,603,900 shares in the last quarter. Bank of America Corp DE grew its position in Docusign by 23.3% during the first quarter. Bank of America Corp DE now owns 1,193,163 shares of the company’s stock worth $56,568,000 after buying an additional 225,801 shares in the last quarter. CWM LLC grew its position in Docusign by 151.8% during the fourth quarter. CWM LLC now owns 47,290 shares of the company’s stock worth $3,235,000 after buying an additional 28,511 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Docusign by 247.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 349,038 shares of the company’s stock worth $15,504,000 after acquiring an additional 248,597 shares during the period. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in Docusign during the 4th quarter worth $6,897,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

Docusign Company Profile

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.