Docusign (NASDAQ:DOCU) Stock Rating Lowered by BidaskClub

Docusign (NASDAQ:DOCU) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Friday, BidAskClub reports.

A number of other analysts have also issued reports on DOCU. Deutsche Bank lifted their price target on Docusign from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, March 11th. JMP Securities lifted their price target on Docusign to $86.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Morgan Stanley lifted their price target on Docusign from $76.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Friday, March 13th. Citigroup lifted their price target on Docusign from $72.00 to $85.00 in a research note on Friday, December 6th. Finally, Wedbush reaffirmed an “outperform” rating on shares of Docusign in a research note on Thursday, January 23rd. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Docusign presently has a consensus rating of “Buy” and a consensus target price of $79.40.

Shares of NASDAQ:DOCU opened at $83.66 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.48 and a quick ratio of 1.48. The business’s 50 day moving average price is $83.41 and its 200-day moving average price is $72.79. The firm has a market capitalization of $15.25 billion, a PE ratio of -70.90 and a beta of 1.03. Docusign has a 1 year low of $43.13 and a 1 year high of $92.55.

Docusign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, March 12th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.07. The firm had revenue of $274.90 million for the quarter, compared to analyst estimates of $266.48 million. Docusign had a negative return on equity of 26.76% and a negative net margin of 21.39%. The business’s revenue was up 37.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.06 earnings per share. As a group, analysts expect that Docusign will post -0.91 earnings per share for the current year.

In related news, COO Scott V. Olrich sold 2,000 shares of Docusign stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $75.07, for a total transaction of $150,140.00. Following the transaction, the chief operating officer now owns 479,852 shares in the company, valued at $36,022,489.64. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Kirsten O. Wolberg sold 7,877 shares of Docusign stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $89.00, for a total value of $701,053.00. Following the transaction, the chief technology officer now owns 145,786 shares in the company, valued at approximately $12,974,954. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,875,212 shares of company stock worth $142,304,331. 13.60% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the business. Sunbelt Securities Inc. purchased a new stake in Docusign in the fourth quarter valued at $2,242,000. Standard Life Aberdeen plc raised its position in Docusign by 2.5% in the fourth quarter. Standard Life Aberdeen plc now owns 5,967 shares of the company’s stock valued at $442,000 after purchasing an additional 148 shares during the period. ProShare Advisors LLC raised its position in Docusign by 2.8% in the fourth quarter. ProShare Advisors LLC now owns 5,961 shares of the company’s stock valued at $442,000 after purchasing an additional 163 shares during the period. Patten & Patten Inc. TN raised its position in Docusign by 0.7% in the fourth quarter. Patten & Patten Inc. TN now owns 25,830 shares of the company’s stock valued at $1,914,000 after purchasing an additional 187 shares during the period. Finally, Financial Advocates Investment Management raised its position in Docusign by 2.5% in the fourth quarter. Financial Advocates Investment Management now owns 11,874 shares of the company’s stock valued at $880,000 after purchasing an additional 295 shares during the period. Institutional investors own 80.43% of the company’s stock.

About Docusign

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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Analyst Recommendations for Docusign (NASDAQ:DOCU)

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