Docusign (NASDAQ:DOCU) Downgraded by ValuEngine to Hold

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ValuEngine cut shares of Docusign (NASDAQ:DOCU) from a buy rating to a hold rating in a report released on Tuesday morning, ValuEngine reports.

A number of other equities analysts also recently commented on DOCU. Wedbush upgraded Docusign from a neutral rating to an outperform rating and upped their target price for the company from $48.00 to $65.00 in a report on Friday, September 6th. Royal Bank of Canada initiated coverage on Docusign in a report on Friday, September 6th. They set an outperform rating and a $75.00 target price for the company. Zacks Investment Research downgraded Docusign from a hold rating to a sell rating in a report on Wednesday, September 11th. FBN Securities set a $65.00 target price on Docusign and gave the company a buy rating in a report on Friday, September 6th. Finally, Morgan Stanley upped their target price on Docusign from $61.00 to $67.00 and gave the company an overweight rating in a report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have issued a buy rating to the stock. Docusign has a consensus rating of Buy and a consensus price target of $65.07.

Shares of Docusign stock opened at $63.36 on Tuesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.64 and a current ratio of 1.64. The business has a 50 day moving average of $49.70 and a 200 day moving average of $52.63. Docusign has a 52 week low of $35.06 and a 52 week high of $64.18.

Docusign (NASDAQ:DOCU) last announced its earnings results on Thursday, September 5th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.24. The company had revenue of $235.61 million during the quarter, compared to the consensus estimate of $220.81 million. Docusign had a negative return on equity of 26.70% and a negative net margin of 28.20%. The firm’s revenue for the quarter was up 41.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.03 earnings per share. As a group, equities research analysts forecast that Docusign will post -1.04 EPS for the current fiscal year.

In other Docusign news, COO Scott V. Olrich sold 2,000 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $59.50, for a total value of $119,000.00. Also, insider Kirsten O. Wolberg sold 7,877 shares of the stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $50.93, for a total value of $401,175.61. The disclosure for this sale can be found here. In the last quarter, insiders sold 579,409 shares of company stock valued at $29,991,184. 13.60% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Metropolitan Life Insurance Co NY raised its holdings in Docusign by 4.2% in the first quarter. Metropolitan Life Insurance Co NY now owns 5,896 shares of the company’s stock worth $305,000 after purchasing an additional 237 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in Docusign by 6.5% in the second quarter. Steward Partners Investment Advisory LLC now owns 4,258 shares of the company’s stock worth $211,000 after purchasing an additional 260 shares in the last quarter. Piedmont Investment Advisors Inc. raised its holdings in Docusign by 5.3% in the first quarter. Piedmont Investment Advisors Inc. now owns 5,624 shares of the company’s stock worth $292,000 after purchasing an additional 282 shares in the last quarter. Tortoise Index Solutions LLC raised its holdings in Docusign by 26.0% in the second quarter. Tortoise Index Solutions LLC now owns 1,859 shares of the company’s stock worth $92,000 after purchasing an additional 384 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in Docusign by 0.9% in the second quarter. Janney Montgomery Scott LLC now owns 58,517 shares of the company’s stock worth $2,909,000 after purchasing an additional 533 shares in the last quarter. Institutional investors and hedge funds own 68.79% of the company’s stock.

Docusign Company Profile

DocuSign, Inc provides cloud based software in the United States. The company offers e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. The company sells its products through direct, partner-assisted, and Web-based sales. It serves enterprise businesses, commercial businesses, and small businesses, such as professionals, sole proprietorships and individuals.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Docusign (NASDAQ:DOCU)

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