DocuSign, Inc. (NASDAQ:DOCU) Receives Average Rating of “Hold” from Analysts

Shares of DocuSign, Inc. (NASDAQ:DOCU) have been assigned a consensus recommendation of “Hold” from the eleven brokerages that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $60.25.

Several analysts recently commented on the company. UBS Group upgraded DocuSign from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $48.00 to $62.00 in a research report on Friday, April 12th. Morgan Stanley raised shares of DocuSign from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $49.00 to $64.00 in a report on Tuesday, January 16th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research note on Friday, April 12th. JMP Securities restated a “market outperform” rating and set a $84.00 price target on shares of DocuSign in a research report on Friday, April 12th. Finally, Wells Fargo & Company cut their price objective on shares of DocuSign from $55.00 to $45.00 and set an “underweight” rating for the company in a report on Monday, February 5th.

Insider Activity

In related news, Director Teresa Briggs sold 499 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $52.99, for a total value of $26,442.01. Following the completion of the transaction, the director now directly owns 6,169 shares in the company, valued at $326,895.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Teresa Briggs sold 499 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $52.99, for a total value of $26,442.01. Following the sale, the director now directly owns 6,169 shares in the company, valued at approximately $326,895.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Allan C. Thygesen sold 7,680 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $61.27, for a total transaction of $470,553.60. Following the completion of the transaction, the chief executive officer now directly owns 111,767 shares in the company, valued at approximately $6,847,964.09. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,871 shares of company stock valued at $3,176,199. 17.80% of the stock is currently owned by company insiders.

Institutional Trading of DocuSign

Several institutional investors have recently added to or reduced their stakes in DOCU. Assenagon Asset Management S.A. grew its stake in shares of DocuSign by 321.3% in the third quarter. Assenagon Asset Management S.A. now owns 214,877 shares of the company’s stock valued at $9,025,000 after buying an additional 163,875 shares in the last quarter. Executive Wealth Management LLC purchased a new stake in DocuSign during the third quarter worth about $1,000,000. SG Americas Securities LLC lifted its position in shares of DocuSign by 93.1% during the fourth quarter. SG Americas Securities LLC now owns 78,423 shares of the company’s stock worth $4,662,000 after purchasing an additional 37,801 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of DocuSign by 77.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,215,650 shares of the company’s stock valued at $51,057,000 after purchasing an additional 531,682 shares during the period. Finally, Grimes & Company Inc. acquired a new position in shares of DocuSign in the third quarter valued at approximately $12,047,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

DocuSign Stock Performance

NASDAQ:DOCU opened at $57.74 on Wednesday. The stock has a market capitalization of $11.86 billion, a PE ratio of 160.39, 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 company has a fifty day moving average of $55.55 and a two-hundred day moving average of $51.95.

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

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.