DocuSign (NASDAQ:DOCU) Rating Lowered to Market Perform at William Blair

Posted by on Jun 10th, 2022

DocuSign (NASDAQ:DOCU – Get Rating) was downgraded by investment analysts at William Blair from an “outperform” rating to a “market perform” rating in a research note issued to investors on Friday, Briefing.com reports.

DOCU has been the topic of a number of other research reports. Piper Sandler decreased their target price on shares of DocuSign from $175.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, March 11th. Wells Fargo & Company cut their target price 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. Oppenheimer lowered shares of DocuSign from an “outperform” rating to a “market perform” rating in a research note on Friday, March 11th. Zacks Investment Research lowered shares of DocuSign from a “buy” rating to a “hold” rating and set a $128.00 price objective on the stock. in a research note on Tuesday, February 15th. Finally, Wolfe Research lowered their target price on shares of DocuSign from $100.00 to $75.00 and set a “peer perform” rating on the stock in a research note on Friday, March 11th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, DocuSign currently has a consensus rating of “Hold” and a consensus target price of $133.69.

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 firm has a market capitalization of $17.46 billion, a PE ratio of -249.60 and a beta of 1.05. DocuSign has a fifty-two week low of $64.84 and a fifty-two week high of $314.76. The company’s 50-day moving average is $86.85 and its 200 day moving average is $117.23.

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

In other news, CEO Daniel D. Springer bought 66,882 shares of the firm’s stock in a transaction dated Tuesday, March 15th. The stock was acquired at an average price of $74.76 per share, for a total transaction of $5,000,098.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 sale, the chief operating officer now owns 230,663 shares of the company’s stock, valued at approximately $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 and hedge funds have recently made changes to their positions in the business. Corient Capital Partners LLC raised its position in shares of DocuSign by 1.4% in the 3rd quarter. Corient Capital Partners LLC now owns 4,279 shares of the company’s stock valued at $1,102,000 after purchasing an additional 60 shares in the last quarter. Penserra Capital Management LLC raised its position in shares of DocuSign by 10.7% in the 3rd quarter. Penserra Capital Management LLC now owns 681 shares of the company’s stock valued at $175,000 after purchasing an additional 66 shares in the last quarter. IFM Investors Pty Ltd raised its position in shares of DocuSign by 0.3% in the 4th quarter. IFM Investors Pty Ltd now owns 26,383 shares of the company’s stock valued at $4,018,000 after purchasing an additional 83 shares in the last quarter. Aspen Investment Management Inc raised its position in shares of DocuSign by 1.5% in the 3rd quarter. Aspen Investment Management Inc now owns 5,670 shares of the company’s stock valued at $1,460,000 after purchasing an additional 85 shares in the last quarter. Finally, Tradewinds Capital Management LLC raised its position in shares of DocuSign by 46.9% during the 4th quarter. Tradewinds Capital Management LLC now owns 282 shares of the company’s stock valued at $43,000 after acquiring an additional 90 shares in the last quarter. 75.62% of the stock is currently owned by institutional investors.

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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