DocuSign, Inc. (NASDAQ:DOCU) Receives $60.25 Consensus Target Price from Brokerages

Shares of DocuSign, Inc. (NASDAQ:DOCU) have received an average recommendation of “Hold” from the eleven analysts that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $60.25.

Several research firms have issued reports on DOCU. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research note on Friday, April 12th. UBS Group upgraded DocuSign from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $48.00 to $62.00 in a research note on Friday, April 12th. JMP Securities reiterated a “market outperform” rating and issued a $84.00 price objective on shares of DocuSign in a research report on Friday, April 12th. Wells Fargo & Company reduced their price objective on DocuSign from $55.00 to $45.00 and set an “underweight” rating on the stock in a research note on Monday, February 5th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $59.00 target price on shares of DocuSign in a report on Friday, April 12th.

DocuSign Price Performance

Shares of DOCU stock opened at $57.28 on Friday. The stock has a market cap of $11.77 billion, a P/E ratio of 159.12, a price-to-earnings-growth ratio of 5.17 and a beta of 0.88. DocuSign has a one year low of $38.11 and a one year high of $64.76. The stock has a fifty day moving average price of $57.69 and a 200 day moving average price of $53.69.

DocuSign (NASDAQ:DOCU) last issued its earnings results on Thursday, March 7th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.09 by $0.06. DocuSign had a return on equity of 13.91% and a net margin of 2.68%. The firm had revenue of $712.39 million during the quarter, compared to analysts’ expectations of $698.05 million. Equities research analysts anticipate that DocuSign will post 0.87 EPS for the current year.

Insider Activity at DocuSign

In other DocuSign news, CEO Allan C. Thygesen sold 7,765 shares of DocuSign stock in a transaction on Friday, March 1st. The shares were sold at an average price of $53.31, for a total transaction of $413,952.15. Following the completion of the sale, the chief executive officer now owns 104,002 shares of the company’s stock, valued at approximately $5,544,346.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other DocuSign news, CEO Allan C. Thygesen sold 7,765 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $53.31, for a total transaction of $413,952.15. Following the transaction, the chief executive officer now owns 104,002 shares in the company, valued at $5,544,346.62. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Allan C. Thygesen sold 8,086 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $56.16, for a total value of $454,109.76. Following the completion of the sale, the chief executive officer now directly owns 99,546 shares of the company’s stock, valued at $5,590,503.36. The disclosure for this sale can be found here. Insiders have sold 55,277 shares of company stock worth $3,159,756 over the last ninety days. Company insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On DocuSign

A number of hedge funds and other institutional investors have recently made changes to their positions in DOCU. Capital Analysts LLC raised its stake in DocuSign by 781.7% during the 4th quarter. Capital Analysts LLC now owns 529 shares of the company’s stock worth $31,000 after buying an additional 469 shares during the period. BluePath Capital Management LLC acquired a new stake in shares of DocuSign during the third quarter worth about $32,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of DocuSign during the 4th quarter valued at about $32,000. Performa Ltd US LLC grew its position in shares of DocuSign by 50.0% in the 3rd quarter. Performa Ltd US LLC now owns 825 shares of the company’s stock valued at $35,000 after purchasing an additional 275 shares during the period. Finally, Register Financial Advisors LLC bought a new stake in DocuSign during the 1st quarter worth approximately $37,000. 77.64% of the stock is owned by institutional investors.

DocuSign Company Profile

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.