Docusign Inc. (NASDAQ:DOCU) Receives $60.27 Average Price Target from Analysts

Docusign Inc. (NASDAQ:DOCU) has received an average rating of “Hold” from the nineteen brokerages that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $60.2667.

Several research firms have recently issued reports on DOCU. Jefferies Financial Group increased their price target on Docusign from $45.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, June 5th. Citigroup upped their price objective on shares of Docusign from $50.00 to $54.00 and gave the stock a “neutral” rating in a report on Friday, June 5th. BTIG Research decreased their target price on shares of Docusign from $70.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, June 5th. Needham & Company LLC reiterated a “hold” rating on shares of Docusign in a research report on Friday, June 5th. Finally, Wedbush lowered their target price on shares of Docusign from $60.00 to $58.00 and set a “neutral” rating on the stock in a research note on Friday, June 5th.

Docusign Stock Performance

Docusign stock opened at $62.04 on Friday. Docusign has a one year low of $40.16 and a one year high of $86.65. The company has a 50-day simple moving average of $49.99 and a 200-day simple moving average of $48.43. The firm has a market capitalization of $11.85 billion, a P/E ratio of 40.29, a P/E/G ratio of 1.89 and a beta of 0.87.

Docusign (NASDAQ:DOCU) last issued its quarterly earnings data on Thursday, June 4th. The company reported $1.09 earnings per share for the quarter, beating the consensus estimate 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%. Docusign’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the firm posted $0.90 EPS. As a group, sell-side analysts forecast that Docusign will post 2.03 earnings per share for the current year.

Insiders Place Their Bets

In other news, CRO Paula Hansen sold 6,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $45.54, for a total value of $273,240.00. Following the completion of the transaction, the executive directly owned 89,972 shares in the company, valued at $4,097,324.88. This trade represents a 6.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Blake Jeffrey Grayson sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $60.00, for a total transaction of $900,000.00. Following the transaction, the chief financial officer owned 126,429 shares in the company, valued at $7,585,740. This represents a 10.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 91,695 shares of company stock valued at $4,376,002. 0.59% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Docusign

Several hedge funds have recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its position in shares of 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 in the last quarter. Centaurus Financial Inc. grew its stake in shares of Docusign by 3.4% in the 3rd quarter. Centaurus Financial Inc. now owns 5,582 shares of the company’s stock worth $402,000 after purchasing an additional 184 shares during the last quarter. Tred Avon Family Wealth LLC raised its holdings in shares of Docusign by 3.6% in the 1st quarter. Tred Avon Family Wealth LLC now owns 6,176 shares of the company’s stock worth $293,000 after purchasing an additional 215 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in shares of Docusign by 2.4% in the 4th quarter. Sanctuary Advisors LLC now owns 9,685 shares of the company’s stock worth $662,000 after purchasing an additional 231 shares in the last quarter. Finally, First Citizens Bank & Trust Co. raised its holdings in shares of Docusign by 2.1% in the 1st quarter. First Citizens Bank & Trust Co. now owns 11,745 shares of the company’s stock worth $557,000 after purchasing an additional 239 shares in 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.