Docusign (NASDAQ:DOCU) Issues Earnings Results, Beats Expectations By $0.06 EPS

Docusign (NASDAQ:DOCUGet Free Report) released its quarterly earnings data on Tuesday. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.06, FiscalAI reports. The company had revenue of $836.86 million during the quarter, compared to analysts’ expectations of $828.23 million. Docusign had a net margin of 9.57% and a return on equity of 15.02%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.86 EPS.

Docusign Stock Up 1.5%

Shares of NASDAQ DOCU traded up $0.72 during trading hours on Tuesday, hitting $47.54. 7,859,945 shares of the stock were exchanged, compared to its average volume of 4,804,390. Docusign has a 12 month low of $40.16 and a 12 month high of $94.67. The firm has a fifty day moving average price of $51.11 and a 200-day moving average price of $64.46. The company has a market cap of $9.52 billion, a PE ratio of 33.24, a PEG ratio of 2.05 and a beta of 1.03.

Insiders Place Their Bets

In other Docusign news, CRO Paula Hansen sold 6,000 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $67.05, for a total value of $402,300.00. Following the completion of the sale, the executive owned 68,970 shares of the company’s stock, valued at approximately $4,624,438.50. This trade represents a 8.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James P. Shaughnessy sold 12,000 shares of the business’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $67.03, for a total value of $804,360.00. Following the sale, the insider owned 54,550 shares in the company, valued at $3,656,486.50. The trade was a 18.03% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 74,810 shares of company stock valued at $5,115,951. 1.66% of the stock is currently owned by company insiders.

Institutional Trading of Docusign

A number of institutional investors have recently bought and sold shares of the stock. NewEdge Advisors LLC raised its stake in shares of Docusign by 36.4% during the 1st quarter. NewEdge Advisors LLC now owns 9,202 shares of the company’s stock valued at $749,000 after buying an additional 2,457 shares during the last quarter. Guggenheim Capital LLC boosted its stake in shares of Docusign by 6.7% in the second quarter. Guggenheim Capital LLC now owns 11,543 shares of the company’s stock worth $899,000 after buying an additional 729 shares during the last quarter. State Street Corp grew its holdings in Docusign by 3.0% during the second quarter. State Street Corp now owns 8,074,976 shares of the company’s stock worth $628,960,000 after acquiring an additional 236,494 shares during the period. Sei Investments Co. grew its holdings in Docusign by 60.7% during the second quarter. Sei Investments Co. now owns 40,386 shares of the company’s stock worth $3,146,000 after acquiring an additional 15,247 shares during the period. Finally, Treasurer of the State of North Carolina raised its position in Docusign by 51.0% during the second quarter. Treasurer of the State of North Carolina now owns 189,178 shares of the company’s stock valued at $14,735,000 after acquiring an additional 63,911 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Evercore dropped their price objective on Docusign from $92.00 to $80.00 and set an “in-line” rating on the stock in a research note on Friday, December 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Docusign in a research report on Tuesday, March 10th. Cantor Fitzgerald reiterated an “outperform” rating on shares of Docusign in a report on Wednesday, December 17th. HSBC set a $53.00 price target on Docusign in a research report on Friday, February 13th. Finally, Wells Fargo & Company decreased their price objective on Docusign from $85.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, December 5th. Five analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $78.80.

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Docusign Company Profile

(Get Free Report)

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.

Further Reading

Earnings History for Docusign (NASDAQ:DOCU)

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