DocuSign (NASDAQ:DOCU) Issues Quarterly Earnings Results

Posted by on Jun 10th, 2022

DocuSign (NASDAQ:DOCU – Get Rating) announced its earnings results on Thursday. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.08), Briefing.com reports. DocuSign had a negative return on equity of 12.39% and a negative net margin of 3.32%. The company had revenue of $588.69 million for the quarter, compared to analyst estimates of $581.85 million. During the same quarter in the previous year, the company posted ($0.03) earnings per share. DocuSign’s revenue for the quarter was up 25.5% on a year-over-year basis. DocuSign updated its FY 2023 guidance to EPS and its Q2 2023 guidance to EPS.

Shares of DOCU stock opened at $87.36 on Friday. The firm’s 50 day moving average price is $86.85 and its two-hundred day moving average price is $117.23. The company has a debt-to-equity ratio of 2.61, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market cap of $17.46 billion, a PE ratio of -249.60 and a beta of 1.05. DocuSign has a 52-week low of $64.84 and a 52-week high of $314.76.

Several analysts have recently commented on the stock. JMP Securities decreased their price target on shares of DocuSign from $180.00 to $151.00 in a research note on Friday. William Blair cut shares of DocuSign from an “outperform” rating to a “market perform” rating in a research note on Friday. Wells Fargo & Company decreased their price target on shares of DocuSign from $180.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Friday, March 11th. Robert W. Baird decreased their price target on shares of DocuSign from $95.00 to $60.00 in a research note on Friday. Finally, Morgan Stanley decreased their price target on shares of DocuSign from $80.00 to $73.00 in a research note on Friday. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, DocuSign currently has a consensus rating of “Hold” and an average target price of $119.63.

In other news, CEO Daniel D. Springer bought 66,882 shares of the business’s stock in a transaction on Tuesday, March 15th. The shares were bought at an average cost of $74.76 per share, for a total transaction of $5,000,098.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Scott V. Olrich sold 3,948 shares of the stock in a transaction on Tuesday, April 5th. The stock was sold at an average price of $110.09, for a total transaction of $434,635.32. Following the completion of the sale, the chief operating officer now owns 230,663 shares in the company, valued at $25,393,689.67. The disclosure for this sale can be found here. Company insiders own 2.55% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of DOCU. Geneos Wealth Management Inc. raised its holdings in shares of DocuSign by 23.5% during the first quarter. Geneos Wealth Management Inc. now owns 2,805 shares of the company’s stock worth $300,000 after acquiring an additional 534 shares during the period. Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of DocuSign by 46.3% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,905 shares of the company’s stock worth $290,000 after acquiring an additional 603 shares during the period. Lombard Odier Asset Management USA Corp acquired a new stake in shares of DocuSign during the fourth quarter worth $255,000. International Assets Investment Management LLC raised its holdings in shares of DocuSign by 34.3% during the first quarter. International Assets Investment Management LLC now owns 2,311 shares of the company’s stock worth $248,000 after acquiring an additional 590 shares during the period. Finally, Kingsview Wealth Management LLC raised its holdings in shares of DocuSign by 29.8% during the fourth quarter. Kingsview Wealth Management LLC now owns 1,572 shares of the company’s stock worth $239,000 after acquiring an additional 361 shares during the period. Institutional investors own 75.62% of the company’s stock.

About DocuSign (Get Rating)

DocuSign, Inc provides electronic signature software in the United States and internationally. The company provides e-signature solution that enables businesses to digitally prepare, sign, act on, and manage agreements. It also offers CLM, which automates workflows across the entire agreement process; Insights that use artificial intelligence (AI) to search and analyze agreements by legal concepts and clauses; Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce; Negotiate for Salesforce that supports for approvals, document comparisons, and version control; Analyzer, which helps customers understand what they're signing before they sign it; and CLM+ that provide AI-driven contract lifecycle management.

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Earnings History for DocuSign (NASDAQ:DOCU)

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