DocuSign (NASDAQ:DOCU) Price Target Cut to $75.00 by Analysts at Piper Sandler

DocuSign (NASDAQ:DOCUGet Rating) had its price objective reduced by equities research analysts at Piper Sandler from $100.00 to $75.00 in a research note issued to investors on Friday, The Fly reports. Piper Sandler’s price objective would suggest a potential downside of 14.15% from the stock’s previous close.

Several other analysts have also recently commented on DOCU. Morgan Stanley reduced their price target on DocuSign from $80.00 to $73.00 in a report on Friday. Citigroup reduced their price objective on DocuSign from $137.00 to $114.00 and set a “buy” rating for the company in a report on Friday, March 11th. JMP Securities reduced their price objective on DocuSign from $307.00 to $180.00 and set a “market outperform” rating for the company in a report on Friday, March 11th. William Blair cut DocuSign from an “outperform” rating to a “market perform” rating in a report on Friday. Finally, Zacks Investment Research cut DocuSign from a “buy” rating to a “hold” rating and set a $128.00 price objective for the company. in a report on Tuesday, February 15th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $123.63.

DOCU opened at $87.36 on Friday. The company has a debt-to-equity ratio of 2.61, a current ratio of 0.96 and a quick ratio of 0.96. The business has a 50 day simple moving average of $86.85 and a 200-day simple moving average of $117.23. The stock has a market capitalization of $17.46 billion, a P/E ratio of -249.60 and a beta of 1.05. DocuSign has a 12 month low of $64.84 and a 12 month high of $314.76.

DocuSign (NASDAQ:DOCUGet Rating) last posted its quarterly earnings results on Thursday, March 10th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.10). The business had revenue of $580.83 million during the quarter, compared to analyst estimates of $561.60 million. DocuSign had a negative net margin of 3.32% and a negative return on equity of 12.39%. The firm’s quarterly revenue was up 34.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.08) earnings per share. Research analysts anticipate that DocuSign will post -0.22 EPS for the current year.

In other DocuSign news, COO Scott V. Olrich sold 12,500 shares of the business’s stock in a transaction dated Tuesday, March 29th. The stock was sold at an average price of $110.15, for a total transaction of $1,376,875.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Scott V. Olrich sold 3,948 shares of the business’s stock in a transaction dated Tuesday, April 5th. The stock was sold at an average price of $110.09, for a total value of $434,635.32. Following the transaction, the chief operating officer now owns 230,663 shares in the company, valued at approximately $25,393,689.67. The disclosure for this sale can be found here. 2.55% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the business. Corient Capital Partners LLC lifted its stake in shares of DocuSign by 1.4% during the third quarter. Corient Capital Partners LLC now owns 4,279 shares of the company’s stock worth $1,102,000 after purchasing an additional 60 shares in the last quarter. Penserra Capital Management LLC lifted its stake in shares of DocuSign by 10.7% during the third quarter. Penserra Capital Management LLC now owns 681 shares of the company’s stock worth $175,000 after purchasing an additional 66 shares in the last quarter. IFM Investors Pty Ltd lifted its stake in shares of DocuSign by 0.3% in the fourth quarter. IFM Investors Pty Ltd now owns 26,383 shares of the company’s stock worth $4,018,000 after acquiring an additional 83 shares in the last quarter. Aspen Investment Management Inc lifted its stake in shares of DocuSign by 1.5% in the third quarter. Aspen Investment Management Inc now owns 5,670 shares of the company’s stock worth $1,460,000 after acquiring an additional 85 shares in the last quarter. Finally, Tradewinds Capital Management LLC lifted its stake in shares of DocuSign by 46.9% in the fourth quarter. Tradewinds Capital Management LLC now owns 282 shares of the company’s stock worth $43,000 after acquiring an additional 90 shares in the last quarter. 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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