Docusign (NASDAQ:DOCU) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Docusign (NASDAQ:DOCU) from a buy rating to a strong-buy rating in a report issued on Saturday morning.

Other equities analysts have also recently issued research reports about the stock. Wedbush reduced their price target on shares of Docusign from $60.00 to $58.00 and set a “neutral” rating on the stock in a research report on Friday, June 5th. Weiss Ratings raised Docusign from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 14th. Jefferies Financial Group upped their price objective on Docusign from $45.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, June 5th. BTIG Research reduced their target price on Docusign from $70.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, June 5th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Docusign in a research report on Friday, June 5th. Three investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Docusign presently has a consensus rating of “Hold” and a consensus price target of $60.27.

Docusign Price Performance

DOCU opened at $52.91 on Friday. The stock has a market capitalization of $10.10 billion, a PE ratio of 34.36, a P/E/G ratio of 1.49 and a beta of 0.90. The firm’s fifty day moving average price is $47.91 and its 200 day moving average price is $48.69. Docusign has a 12-month low of $40.16 and a 12-month high of $86.65.

Docusign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, June 4th. The company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.10. The firm had revenue of $830.24 million for the quarter, compared to the consensus estimate of $824.71 million. Docusign had a net margin of 9.59% and a return on equity of 17.48%. The firm’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.90 EPS. On average, equities research analysts forecast that Docusign will post 2.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Blake Jeffrey Grayson sold 15,000 shares of Docusign stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $45.55, for a total value of $683,250.00. Following the completion of the transaction, the chief financial officer directly owned 141,429 shares of the company’s stock, valued at approximately $6,442,090.95. The trade was a 9.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James P. Shaughnessy sold 12,000 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $45.54, for a total transaction of $546,480.00. Following the sale, the insider directly owned 52,815 shares of the company’s stock, valued at approximately $2,405,195.10. This represents a 18.51% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 76,695 shares of company stock worth $3,476,002. Company insiders own 0.59% of the company’s stock.

Hedge Funds Weigh In On Docusign

A number of hedge funds and other institutional investors have recently bought and sold shares of DOCU. Modus Advisors LLC acquired a new stake in shares of Docusign during the 4th quarter worth approximately $27,000. Torren Management LLC acquired a new position in Docusign during the 4th quarter valued at approximately $28,000. Cary Street Partners Investment Advisory LLC grew its stake in Docusign by 309.5% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 561 shares of the company’s stock worth $38,000 after buying an additional 424 shares during the last quarter. Basepoint Wealth LLC bought a new position in Docusign during the 4th quarter worth $39,000. Finally, WealthCollab LLC grew its stake in Docusign by 372.4% during the 1st quarter. WealthCollab LLC now owns 855 shares of the company’s stock worth $41,000 after buying an additional 674 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Docusign Company Profile

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.