Robert W. Baird Has Lowered Expectations for Docusign (NASDAQ:DOCU) Stock Price

Docusign (NASDAQ:DOCU) had its price objective reduced by research analysts at Robert W. Baird from $90.00 to $75.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s target price suggests a potential upside of 5.49% from the stock’s previous close.

A number of other equities analysts have also weighed in on DOCU. Weiss Ratings reiterated a “hold (c)” rating on shares of Docusign in a report on Wednesday, October 8th. Citigroup increased their target price on Docusign from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, September 4th. Bank of America lifted their target price on Docusign from $85.00 to $102.00 and gave the company a “neutral” rating in a report on Friday, September 5th. JMP Securities reissued a “market outperform” rating and set a $124.00 price target on shares of Docusign in a research report on Friday, October 3rd. Finally, JPMorgan Chase & Co. raised their price objective on Docusign from $77.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday, September 5th. Four equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. According to MarketBeat.com, Docusign currently has a consensus rating of “Hold” and a consensus price target of $90.93.

Docusign Price Performance

NASDAQ DOCU opened at $71.10 on Friday. Docusign has a 12 month low of $63.50 and a 12 month high of $107.86. The company has a 50-day moving average of $69.80 and a 200-day moving average of $75.45. The company has a market cap of $14.30 billion, a P/E ratio of 53.46, a P/E/G ratio of 3.51 and a beta of 0.98.

Docusign (NASDAQ:DOCU) last released its earnings results on Thursday, September 4th. The company reported $0.92 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $780.35 million. During the same period last year, the company earned $0.97 earnings per share. The company’s quarterly revenue was up 8.8% on a year-over-year basis. As a group, equities research analysts anticipate that Docusign will post 1.17 EPS for the current year.

Insider Activity at Docusign

In other news, insider Robert Chatwani sold 13,817 shares of the company’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $83.10, for a total value of $1,148,192.70. Following the completion of the sale, the insider owned 71,162 shares of the company’s stock, valued at $5,913,562.20. This represents a 16.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James P. Shaughnessy sold 7,500 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $71.19, for a total value of $533,925.00. Following the completion of the sale, the insider owned 55,442 shares of the company’s stock, valued at approximately $3,946,915.98. This trade represents a 11.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 103,713 shares of company stock valued at $7,791,047 over the last 90 days. Corporate insiders own 1.01% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Mackenzie Financial Corp grew its holdings in Docusign by 9.9% during the 1st quarter. Mackenzie Financial Corp now owns 3,455 shares of the company’s stock valued at $281,000 after purchasing an additional 311 shares in the last quarter. US Bancorp DE grew its stake in shares of Docusign by 17.9% during the first quarter. US Bancorp DE now owns 4,648 shares of the company’s stock valued at $378,000 after acquiring an additional 706 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Docusign by 5.5% during the first quarter. PNC Financial Services Group Inc. now owns 6,888 shares of the company’s stock valued at $561,000 after acquiring an additional 356 shares in the last quarter. Atria Wealth Solutions Inc. increased its position in shares of Docusign by 4.1% during the first quarter. Atria Wealth Solutions Inc. now owns 9,327 shares of the company’s stock worth $759,000 after acquiring an additional 369 shares during the last quarter. Finally, iA Global Asset Management Inc. lifted its stake in shares of Docusign by 2.1% in the first quarter. iA Global Asset Management Inc. now owns 7,712 shares of the company’s stock worth $628,000 after acquiring an additional 157 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.