Morgan Stanley downgraded shares of Docusign (NASDAQ:DOCU) from an overweight rating to an equal weight rating in a report issued on Monday, BenzingaRatingsTable reports. The firm currently has $76.00 price objective on the stock, up from their previous price objective of $67.00.
DOCU has been the subject of several other research reports. Piper Jaffray Companies began coverage on Docusign in a report on Friday, November 8th. They set a neutral rating and a $75.00 price target for the company. Bank of America upped their price target on Docusign from $62.00 to $85.00 and gave the stock a neutral rating in a report on Friday, December 6th. Zacks Investment Research upgraded Docusign from a sell rating to a hold rating in a report on Wednesday, November 6th. Wedbush upped their price target on Docusign from $80.00 to $90.00 and gave the stock an outperform rating in a report on Friday, December 6th. Finally, Royal Bank of Canada upped their price target on Docusign from $80.00 to $93.00 and gave the stock an outperform rating in a report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $77.33.
Shares of Docusign stock opened at $73.03 on Monday. The stock has a fifty day simple moving average of $73.69 and a 200 day simple moving average of $61.54. Docusign has a 12-month low of $42.22 and a 12-month high of $77.01. The company has a market capitalization of $13.06 billion, a P/E ratio of -25.18 and a beta of 1.44. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.07.
Docusign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, December 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.08. Docusign had a negative return on equity of 26.77% and a negative net margin of 25.28%. The business had revenue of $249.50 million during the quarter, compared to the consensus estimate of $240.40 million. The business’s revenue for the quarter was up 39.9% compared to the same quarter last year. On average, analysts predict that Docusign will post -0.9 EPS for the current year.
In other Docusign news, COO Scott V. Olrich sold 2,000 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $66.69, for a total value of $133,380.00. Following the completion of the transaction, the chief operating officer now owns 497,770 shares in the company, valued at approximately $33,196,281.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Enrique T. Salem sold 722,647 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $75.50, for a total value of $54,559,848.50. Following the completion of the transaction, the director now owns 65,494 shares of the company’s stock, valued at approximately $4,944,797. The disclosure for this sale can be found here. Insiders sold a total of 1,585,805 shares of company stock valued at $119,025,392 in the last 90 days. Corporate insiders own 13.60% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Worldquant Millennium Advisors LLC purchased a new position in shares of Docusign during the 3rd quarter valued at $8,644,000. Meridian Investment Counsel Inc. lifted its position in shares of Docusign by 231.0% during the 3rd quarter. Meridian Investment Counsel Inc. now owns 24,328 shares of the company’s stock valued at $1,506,000 after buying an additional 16,978 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Docusign by 3.6% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 409,918 shares of the company’s stock valued at $25,382,000 after buying an additional 14,366 shares during the last quarter. Man Group plc lifted its position in shares of Docusign by 306.5% during the 3rd quarter. Man Group plc now owns 66,319 shares of the company’s stock valued at $4,106,000 after buying an additional 50,003 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Docusign by 333.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 48,170 shares of the company’s stock valued at $2,980,000 after buying an additional 37,067 shares during the last quarter. Hedge funds and other institutional investors own 80.09% of the company’s stock.
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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