DocuSign (NASDAQ:DOCU) Price Target Cut to $90.00

DocuSign (NASDAQ:DOCUGet Rating) had its target price decreased by investment analysts at Citigroup from $114.00 to $90.00 in a research note issued on Friday, The Fly reports. Citigroup’s target price would indicate a potential upside of 3.02% from the stock’s current price.

A number of other equities analysts have also weighed in on the company. Bank of America lowered DocuSign from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $120.00 to $72.00 in a research note on Friday. Oppenheimer lowered DocuSign from an “outperform” rating to a “market perform” rating in a research note on Friday, March 11th. UBS Group lowered their target price on DocuSign from $170.00 to $110.00 and set a “neutral” rating on the stock in a research note on Monday, March 7th. William Blair lowered DocuSign from an “outperform” rating to a “market perform” rating in a research note on Friday. Finally, Wedbush lowered DocuSign from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $80.00 to $60.00 in a research note on Tuesday, May 3rd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, DocuSign currently has an average rating of “Hold” and an average price target of $134.94.

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

DocuSign (NASDAQ:DOCUGet Rating) last released its quarterly earnings data on Thursday, June 9th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.08). DocuSign had a negative net margin of 3.32% and a negative return on equity of 12.39%. The business had revenue of $588.69 million during the quarter, compared to analyst estimates of $581.85 million. During the same period in the previous year, the business earned ($0.03) earnings per share. The business’s quarterly revenue was up 25.5% on a year-over-year basis. As a group, analysts expect that DocuSign will post -0.22 earnings per share for the current year.

In related 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 value of $1,376,875.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Scott V. Olrich sold 3,948 shares of the business’s stock in a transaction dated Tuesday, April 5th. The shares were sold at an average price of $110.09, for a total value of $434,635.32. Following the completion of the sale, the chief operating officer now directly owns 230,663 shares of the company’s stock, 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.

Several institutional investors have recently modified their holdings of DOCU. Capital World Investors lifted its position in shares of DocuSign by 128.3% during the first quarter. Capital World Investors now owns 5,683,838 shares of the company’s stock valued at $608,853,000 after purchasing an additional 3,193,727 shares in the last quarter. Fisher Asset Management LLC bought a new position in shares of DocuSign during the 4th quarter worth approximately $464,854,000. Vanguard Group Inc. lifted its position in shares of DocuSign by 20.3% during the 1st quarter. Vanguard Group Inc. now owns 17,308,877 shares of the company’s stock worth $1,854,127,000 after buying an additional 2,917,683 shares in the last quarter. Flossbach Von Storch AG lifted its position in shares of DocuSign by 1,736.8% during the 1st quarter. Flossbach Von Storch AG now owns 2,387,867 shares of the company’s stock worth $255,788,000 after buying an additional 2,257,867 shares in the last quarter. Finally, Morgan Stanley lifted its position in shares of DocuSign by 41.1% during the 2nd quarter. Morgan Stanley now owns 6,661,767 shares of the company’s stock worth $1,862,430,000 after buying an additional 1,941,923 shares in the last quarter. 75.62% of the stock is owned by hedge funds and other institutional investors.

DocuSign Company Profile (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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