Docusign Inc. (NASDAQ:DOCU) Stock Has Average Price Target of $67.62

Docusign Inc. (NASDAQ:DOCU) has been assigned an average recommendation of “Hold” from the nineteen analysts that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, fifteen have given a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $67.62.

A number of equities analysts have commented on DOCU shares. Citizens Jmp reiterated a “market outperform” rating and issued a $86.00 price objective on shares of Docusign in a report on Friday, September 4th. Morgan Stanley lifted their target price on Docusign from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, September 4th. Weiss Ratings upgraded Docusign from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Piper Sandler boosted their price target on Docusign from $52.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, September 4th. Finally, Wall Street Zen downgraded Docusign from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 2nd.

Insider Buying and Selling

In other Docusign news, insider James Shaughnessy sold 12,000 shares of the stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $68.80, for a total transaction of $825,600.00. Following the transaction, the insider directly owned 50,591 shares in the company, valued at $3,480,660.80. This represents a 19.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Allan Thygesen sold 26,250 shares of Docusign stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $69.29, for a total value of $1,818,862.50. Following the completion of the transaction, the chief executive officer owned 166,801 shares of the company’s stock, valued at approximately $11,557,641.29. The trade was a 13.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 165,868 shares of company stock worth $11,121,890 over the last 90 days. 0.59% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Docusign

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DOCU. Choreo LLC boosted its position in shares of Docusign by 1.8% in the third quarter. Choreo LLC now owns 7,430 shares of the company’s stock valued at $499,000 after acquiring an additional 129 shares during the period. Tred Avon Family Wealth LLC increased its position in Docusign by 3.6% during the first quarter. Tred Avon Family Wealth LLC now owns 6,176 shares of the company’s stock worth $293,000 after acquiring an additional 215 shares during the period. Riversedge Advisors LLC increased its position in Docusign by 4.5% during the third quarter. Riversedge Advisors LLC now owns 5,182 shares of the company’s stock worth $348,000 after acquiring an additional 225 shares during the period. First Citizens Bank & Trust Co. increased its position in Docusign by 2.1% during the first quarter. First Citizens Bank & Trust Co. now owns 11,745 shares of the company’s stock worth $557,000 after acquiring an additional 239 shares during the period. Finally, Pinnacle Wealth Planning Services Inc. raised its stake in Docusign by 78.5% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 607 shares of the company’s stock valued at $41,000 after purchasing an additional 267 shares during the last quarter. 77.64% of the stock is owned by institutional investors.

Docusign Stock Up 1.9%

Shares of NASDAQ:DOCU opened at $83.60 on Thursday. Docusign has a 52-week low of $40.16 and a 52-week high of $85.90. The company has a 50 day moving average of $70.00 and a two-hundred day moving average of $54.60. The company has a market capitalization of $15.62 billion, a price-to-earnings ratio of 50.98, a price-to-earnings-growth ratio of 3.15 and a beta of 0.86.

Docusign (NASDAQ:DOCU) last posted its earnings results on Thursday, September 3rd. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.07. The business had revenue of $875.75 million for the quarter, compared to analysts’ expectations of $867.22 million. Docusign had a net margin of 9.82% and a return on equity of 18.29%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.30 earnings per share. On average, equities analysts anticipate that Docusign will post 2.14 earnings per share for the current year.

About Docusign

DocuSign, Inc is a software company that provides digital agreement and electronic signature solutions. Its platform enables individuals and organizations to prepare, send, sign, manage and store agreements electronically, helping customers replace paper-based contracting processes with digital workflows.

The company’s offerings include eSignature, contract lifecycle management, identity verification, notarization and agreement analytics tools. These products are designed to support agreement creation, negotiation, execution and post-signature management across functions such as sales, human resources, procurement, legal and finance.

Founded in 2003, DocuSign serves businesses, government organizations and individual users in markets around the world.