JMP Securities Reiterates “Market Outperform” Rating for DocuSign (NASDAQ:DOCU)

JMP Securities reaffirmed their market outperform rating on shares of DocuSign (NASDAQ:DOCU) in a research note released on Friday, Benzinga reports. They currently have a $84.00 price target on the stock.

Several other research analysts have also recently weighed in on the company. Morgan Stanley upgraded DocuSign from an underweight rating to an equal weight rating and boosted their price target for the stock from $49.00 to $64.00 in a research note on Tuesday, January 16th. UBS Group upgraded shares of DocuSign from a sell rating to a neutral rating and upped their target price for the company from $48.00 to $62.00 in a research note on Friday. Royal Bank of Canada reiterated a sector perform rating and issued a $50.00 price target on shares of DocuSign in a research note on Friday, January 12th. Needham & Company LLC restated a hold rating on shares of DocuSign in a research report on Friday. Finally, TheStreet raised shares of DocuSign from a d+ rating to a c- rating in a research report on Tuesday, December 19th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of Hold and a consensus price target of $60.25.

DocuSign Stock Performance

NASDAQ:DOCU opened at $56.67 on Friday. The firm has a market cap of $11.64 billion, a P/E ratio of 157.42, a P/E/G ratio of 5.15 and a beta of 0.89. DocuSign has a fifty-two week low of $38.11 and a fifty-two week high of $64.76. The firm has a 50-day simple moving average of $55.44 and a two-hundred day simple moving average of $51.84.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, March 7th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.06. DocuSign had a net margin of 2.68% and a return on equity of 13.91%. The company had revenue of $712.39 million during the quarter, compared to the consensus estimate of $698.05 million. On average, equities research analysts predict that DocuSign will post 0.86 EPS for the current year.

Insider Buying and Selling

In other DocuSign news, Director Peter Solvik sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $60.00, for a total value of $900,000.00. Following the completion of the transaction, the director now directly owns 783 shares in the company, valued at $46,980. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Peter Solvik sold 15,000 shares of the business’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $60.00, for a total value of $900,000.00. Following the transaction, the director now directly owns 783 shares in the company, valued at $46,980. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Allan C. Thygesen sold 7,680 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $61.27, for a total value of $470,553.60. Following the sale, the chief executive officer now owns 111,767 shares of the company’s stock, valued at approximately $6,847,964.09. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,871 shares of company stock valued at $3,176,199. 17.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DocuSign

Hedge funds have recently modified their holdings of the stock. MetLife Investment Management LLC purchased a new stake in DocuSign in the 1st quarter worth $1,337,000. Raymond James Trust N.A. boosted its stake in DocuSign by 27.3% during the first quarter. Raymond James Trust N.A. now owns 4,206 shares of the company’s stock valued at $450,000 after buying an additional 901 shares during the last quarter. Sei Investments Co. grew its holdings in DocuSign by 21.8% during the 1st quarter. Sei Investments Co. now owns 177,214 shares of the company’s stock valued at $18,934,000 after buying an additional 31,769 shares in the last quarter. National Pension Service increased its stake in DocuSign by 25.9% in the 1st quarter. National Pension Service now owns 347,633 shares of the company’s stock worth $37,238,000 after acquiring an additional 71,449 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of DocuSign by 20.3% during the 1st quarter. Vanguard Group Inc. now owns 17,308,877 shares of the company’s stock worth $1,854,127,000 after acquiring an additional 2,917,683 shares in the last quarter. 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.