DocuSign (NASDAQ:DOCU) Price Target Raised to $87.00

DocuSign (NASDAQ:DOCU) had its price objective hoisted by Citigroup from $81.00 to $87.00 in a research note published on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

DOCU has been the topic of a number of other research reports. Robert W. Baird dropped their target price on DocuSign from $70.00 to $58.00 and set a neutral rating on the stock in a research report on Friday, September 8th. Morgan Stanley lifted their target price on DocuSign from $49.00 to $51.00 and gave the company an underweight rating in a research report on Friday, September 8th. Royal Bank of Canada reissued a sector perform rating and issued a $59.00 target price on shares of DocuSign in a research report on Friday, September 8th. JMP Securities reaffirmed a market outperform rating and set a $84.00 price target on shares of DocuSign in a research report on Friday, September 8th. Finally, UBS Group boosted their price target on DocuSign from $44.00 to $48.00 and gave the stock a sell rating in a research report on Friday, September 8th. Five equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. According to MarketBeat, DocuSign presently has a consensus rating of Hold and an average price target of $61.43.

DocuSign Price Performance

NASDAQ:DOCU opened at $43.95 on Wednesday. DocuSign has a fifty-two week low of $39.57 and a fifty-two week high of $69.45. The stock has a market capitalization of $8.93 billion, a PE ratio of -488.28, a price-to-earnings-growth ratio of 8.40 and a beta of 0.90. The business’s 50-day simple moving average is $50.31 and its 200-day simple moving average is $52.91.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings data on Thursday, September 7th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.06. DocuSign had a positive return on equity of 11.30% and a negative net margin of 0.64%. The business had revenue of $687.69 million for the quarter, compared to analysts’ expectations of $677.56 million. During the same quarter in the previous year, the business posted ($0.18) EPS. DocuSign’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, research analysts expect that DocuSign will post 0.39 earnings per share for the current year.

Insider Transactions at DocuSign

In other DocuSign news, Director Enrique T. Salem sold 2,500 shares of the company’s stock in a transaction dated Friday, July 7th. The stock was sold at an average price of $50.02, for a total value of $125,050.00. Following the completion of the transaction, the director now owns 156,140 shares of the company’s stock, valued at approximately $7,810,122.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other DocuSign news, insider Stephen Shute sold 100,315 shares of the company’s stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $49.20, for a total value of $4,935,498.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Enrique T. Salem sold 2,500 shares of the stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $50.02, for a total value of $125,050.00. Following the completion of the sale, the director now directly owns 156,140 shares of the company’s stock, valued at approximately $7,810,122.80. The disclosure for this sale can be found here. 17.80% of the stock is owned by insiders.

Institutional Investors Weigh In On DocuSign

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of DocuSign by 1.9% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 8,965 shares of the company’s stock valued at $514,000 after purchasing an additional 164 shares in the last quarter. Integrated Wealth Concepts LLC boosted its position in shares of DocuSign by 3.8% during the 4th quarter. Integrated Wealth Concepts LLC now owns 5,009 shares of the company’s stock valued at $278,000 after purchasing an additional 182 shares in the last quarter. Malaga Cove Capital LLC boosted its position in shares of DocuSign by 2.9% during the 2nd quarter. Malaga Cove Capital LLC now owns 7,209 shares of the company’s stock valued at $368,000 after purchasing an additional 200 shares in the last quarter. Utah Retirement Systems boosted its position in shares of DocuSign by 0.6% during the 2nd quarter. Utah Retirement Systems now owns 34,587 shares of the company’s stock valued at $1,984,000 after purchasing an additional 200 shares in the last quarter. Finally, Copperwynd Financial LLC boosted its position in shares of DocuSign by 2.4% during the 2nd quarter. Copperwynd Financial LLC now owns 8,557 shares of the company’s stock valued at $437,000 after purchasing an additional 201 shares in the last quarter. Institutional investors and hedge funds own 77.96% of the company’s stock.

About DocuSign

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides DocuSign e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.