Docusign’s (DOCU) “Sector Perform” Rating Reaffirmed at Royal Bank Of Canada

Docusign (NASDAQ:DOCU)‘s stock had its “sector perform” rating reiterated by stock analysts at Royal Bank Of Canada in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $95.00 price target on the stock. Royal Bank Of Canada’s target price points to a potential upside of 43.29% from the company’s current price.

Several other research analysts have also recently commented on DOCU. Bank of America decreased their target price on shares of Docusign from $102.00 to $82.00 and set a “neutral” rating for the company in a report on Friday. Wall Street Zen raised shares of Docusign from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Evercore ISI raised their price target on shares of Docusign from $90.00 to $92.00 and gave the company an “in-line” rating in a report on Friday, September 5th. Zacks Research lowered shares of Docusign from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 24th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Docusign in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. According to data from MarketBeat, Docusign presently has a consensus rating of “Hold” and a consensus target price of $90.21.

Docusign Stock Down 6.8%

DOCU stock opened at $66.30 on Friday. The stock has a market cap of $13.33 billion, a PE ratio of 50.07, a price-to-earnings-growth ratio of 3.51 and a beta of 0.98. The firm’s 50-day simple moving average is $69.80 and its 200 day simple moving average is $75.45. Docusign has a fifty-two week low of $63.41 and a fifty-two week high of $107.86.

Docusign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, September 4th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.08. Docusign had a net margin of 9.08% and a return on equity of 14.01%. The business had revenue of $800.64 million during the quarter, compared to the consensus estimate of $780.35 million. During the same quarter in the prior year, the company posted $0.97 earnings per share. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. Equities analysts forecast that Docusign will post 1.17 EPS for the current fiscal year.

Insider Buying and Selling at Docusign

In other news, CRO Paula Hansen sold 6,000 shares of the stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $71.33, for a total value of $427,980.00. Following the completion of the transaction, the executive directly owned 58,968 shares of the company’s stock, valued at approximately $4,206,187.44. This represents a 9.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James A. Beer sold 450 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $68.54, for a total transaction of $30,843.00. Following the completion of the sale, the director directly owned 14,478 shares in the company, valued at approximately $992,322.12. The trade was a 3.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 103,713 shares of company stock valued at $7,791,047 over the last quarter. Company insiders own 1.01% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of DOCU. Palogic Value Management L.P. increased its holdings in Docusign by 2.2% during the 1st quarter. Palogic Value Management L.P. now owns 5,438 shares of the company’s stock valued at $443,000 after purchasing an additional 117 shares in the last quarter. Wealthspire Advisors LLC raised its holdings in shares of Docusign by 1.9% in the first quarter. Wealthspire Advisors LLC now owns 6,579 shares of the company’s stock valued at $536,000 after buying an additional 122 shares during the last quarter. Centaurus Financial Inc. lifted its position in Docusign by 2.6% during the 2nd quarter. Centaurus Financial Inc. now owns 5,398 shares of the company’s stock worth $420,000 after buying an additional 136 shares in the last quarter. Brooklyn Investment Group grew its holdings in Docusign by 24.9% during the 1st quarter. Brooklyn Investment Group now owns 702 shares of the company’s stock worth $57,000 after acquiring an additional 140 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its position in Docusign by 31.3% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 595 shares of the company’s stock valued at $46,000 after acquiring an additional 142 shares in the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

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.