DocuSign’s (DOCU) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of DocuSign (NASDAQ:DOCU) in a research report sent to investors on Friday, Benzinga reports. JMP Securities currently has a $84.00 price target on the stock.

A number of other equities analysts have also recently issued reports on DOCU. Morgan Stanley upgraded shares of DocuSign from an underweight rating to an equal weight rating and boosted their price objective for the company from $49.00 to $64.00 in a research report on Tuesday, January 16th. Needham & Company LLC reaffirmed a hold rating on shares of DocuSign in a research note on Friday. UBS Group raised shares of DocuSign from a sell rating to a neutral rating and lifted their target price for the company from $48.00 to $62.00 in a research note on Friday. Royal Bank of Canada reaffirmed a sector perform rating and set a $50.00 target price on shares of DocuSign in a research note on Friday, January 12th. Finally, Wells Fargo & Company cut their target price on shares of DocuSign from $55.00 to $45.00 and set an underweight rating on the stock in a research note on Monday, February 5th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $60.25.

DocuSign Trading Down 1.0 %

DOCU stock opened at $58.90 on Friday. The firm’s 50-day moving average price is $55.37 and its two-hundred day moving average price is $51.59. DocuSign has a 12-month low of $38.11 and a 12-month high of $64.76. The stock has a market capitalization of $12.10 billion, a price-to-earnings ratio of 163.62, a PEG ratio of 5.20 and a beta of 0.89.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings data on Thursday, March 7th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. DocuSign had a net margin of 2.68% and a return on equity of 13.91%. The firm had revenue of $712.39 million for the quarter, compared to analysts’ expectations of $698.05 million. Equities analysts predict that DocuSign will post 0.86 EPS for the current year.

Insider Transactions at DocuSign

In other news, Director Teresa Briggs sold 499 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $52.99, for a total value of $26,442.01. Following the transaction, the director now owns 6,169 shares in the company, valued at $326,895.31. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Allan C. Thygesen sold 7,765 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $53.31, for a total transaction of $413,952.15. Following the completion of the transaction, the chief executive officer now directly owns 104,002 shares of the company’s stock, valued at $5,544,346.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Teresa Briggs sold 499 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $52.99, for a total transaction of $26,442.01. Following the transaction, the director now directly owns 6,169 shares of the company’s stock, valued at $326,895.31. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,871 shares of company stock worth $3,176,199. Corporate insiders own 17.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Gilman Hill Asset Management LLC raised its holdings in shares of DocuSign by 0.9% during the first quarter. Gilman Hill Asset Management LLC now owns 75,726 shares of the company’s stock valued at $4,509,000 after purchasing an additional 685 shares during the last quarter. RFG Advisory LLC purchased a new stake in DocuSign during the first quarter valued at approximately $229,000. Banque Cantonale Vaudoise increased its holdings in DocuSign by 391.1% during the first quarter. Banque Cantonale Vaudoise now owns 40,233 shares of the company’s stock valued at $2,396,000 after buying an additional 32,041 shares during the last quarter. Polianta Ltd purchased a new stake in DocuSign during the first quarter valued at approximately $1,179,000. Finally, Perpetual Ltd increased its holdings in DocuSign by 7.1% during the first quarter. Perpetual Ltd now owns 34,844 shares of the company’s stock valued at $2,075,000 after buying an additional 2,304 shares during the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

DocuSign Company Profile

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.