Research analysts at Bank of America assumed coverage on shares of Docusign (NASDAQ:DOCU – Get Free Report) in a research report issued on Tuesday. The firm set an “underperform” rating and a $52.00 price target on the stock. Bank of America‘s price objective points to a potential upside of 10.03% from the stock’s previous close.
Other equities analysts also recently issued research reports about the company. Wedbush dropped their target price on Docusign from $85.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. Evercore dropped their price objective on shares of Docusign from $92.00 to $80.00 and set an “in-line” rating on the stock in a research note on Friday, December 5th. Cantor Fitzgerald reissued an “outperform” rating on shares of Docusign in a research note on Wednesday, December 17th. Piper Sandler dropped their price target on shares of Docusign from $75.00 to $52.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 18th. Finally, Royal Bank Of Canada cut their price objective on Docusign from $70.00 to $55.00 and set a “sector perform” rating for the company in a report on Wednesday, March 18th. Five research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Docusign presently has an average rating of “Hold” and an average target price of $64.67.
Read Our Latest Report on DOCU
Docusign Stock Performance
Docusign (NASDAQ:DOCU – Get Free Report) last released its earnings results on Tuesday, March 17th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. Docusign had a return on equity of 16.86% and a net margin of 9.60%.The company had revenue of $836.86 million during the quarter, compared to analyst estimates of $828.23 million. During the same quarter in the prior year, the company earned $0.86 earnings per share. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities analysts forecast that Docusign will post 1.17 earnings per share for the current fiscal year.
Docusign declared that its Board of Directors has approved a share buyback plan on Tuesday, March 17th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 21% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.
Insider Transactions at Docusign
In other news, CRO Paula Hansen sold 6,000 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $67.05, for a total value of $402,300.00. Following the completion of the sale, the executive directly owned 68,970 shares in the company, valued at approximately $4,624,438.50. The trade was a 8.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 6,500 shares of the company’s stock in a transaction on Friday, January 9th. The stock was sold at an average price of $70.00, for a total transaction of $455,000.00. Following the sale, the chief financial officer directly owned 111,713 shares of the company’s stock, valued at approximately $7,819,910. This represents a 5.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 68,173 shares of company stock worth $4,324,684. 1.66% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the company. Centaurus Financial Inc. boosted its holdings in Docusign by 2.6% during the second quarter. Centaurus Financial Inc. now owns 5,398 shares of the company’s stock valued at $420,000 after acquiring an additional 136 shares during the period. Mitchell & Pahl Private Wealth LLC increased its stake in shares of Docusign by 0.7% in the third quarter. Mitchell & Pahl Private Wealth LLC now owns 21,422 shares of the company’s stock worth $1,544,000 after purchasing an additional 149 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Docusign by 15.1% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,229 shares of the company’s stock worth $89,000 after purchasing an additional 161 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in Docusign by 8.2% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,169 shares of the company’s stock valued at $166,000 after purchasing an additional 165 shares during the period. Finally, Americana Partners LLC grew its holdings in Docusign by 3.3% in the 3rd quarter. Americana Partners LLC now owns 5,467 shares of the company’s stock valued at $394,000 after buying an additional 176 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.
About Docusign
DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.
DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.
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