DocuSign, Inc. (NASDAQ:DOCU) Receives Average Rating of “Hold” from Brokerages

DocuSign, Inc. (NASDAQ:DOCU) has been assigned an average recommendation of “Hold” from the eleven research firms that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $60.25.

Several equities research analysts have issued reports on DOCU shares. UBS Group raised shares of DocuSign from a “sell” rating to a “neutral” rating and boosted their price target for the company from $48.00 to $62.00 in a report on Friday, April 12th. Morgan Stanley raised shares of DocuSign from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $49.00 to $64.00 in a research report on Tuesday, January 16th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research note on Friday, April 12th. Wells Fargo & Company lowered their price objective on DocuSign from $55.00 to $45.00 and set an “underweight” rating on the stock in a research note on Monday, February 5th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $59.00 target price on shares of DocuSign in a research report on Friday, April 12th.

DocuSign Stock Up 1.8 %

DOCU stock opened at $59.80 on Friday. The business’s 50-day simple moving average is $57.24 and its 200 day simple moving average is $53.30. The company has a market cap of $12.28 billion, a PE ratio of 166.12, a price-to-earnings-growth ratio of 5.08 and a beta of 0.88. DocuSign has a twelve month low of $38.11 and a twelve month high of $64.76.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, March 7th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.06. The company had revenue of $712.39 million for the quarter, compared to analyst estimates of $698.05 million. DocuSign had a return on equity of 13.91% and a net margin of 2.68%. On average, equities research analysts anticipate that DocuSign will post 0.87 EPS for the current year.

Insider Activity at DocuSign

In other news, CEO Allan C. Thygesen sold 7,765 shares of DocuSign stock in a transaction on Friday, March 1st. The stock was sold at an average price of $53.31, for a total value of $413,952.15. Following the completion of the sale, the chief executive officer now directly owns 104,002 shares of the company’s stock, valued at approximately $5,544,346.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other DocuSign news, insider Stephen Shute sold 15,109 shares of DocuSign stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $57.02, for a total transaction of $861,515.18. Following the completion of the sale, the insider now owns 8,959 shares of the company’s stock, valued at approximately $510,842.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Allan C. Thygesen sold 7,765 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $53.31, for a total value of $413,952.15. Following the completion of the transaction, the chief executive officer now directly owns 104,002 shares in the company, valued at approximately $5,544,346.62. The disclosure for this sale can be found here. Insiders sold a total of 55,277 shares of company stock valued at $3,159,756 over the last quarter. Corporate insiders own 17.80% of the company’s stock.

Institutional Investors Weigh In On DocuSign

A number of institutional investors have recently made changes to their positions in the stock. Capital Analysts LLC lifted its stake in DocuSign by 781.7% in the fourth quarter. Capital Analysts LLC now owns 529 shares of the company’s stock valued at $31,000 after buying an additional 469 shares during the period. BluePath Capital Management LLC acquired a new stake in shares of DocuSign in the 3rd quarter valued at approximately $32,000. McGlone Suttner Wealth Management Inc. bought a new position in DocuSign during the 4th quarter worth approximately $32,000. Performa Ltd US LLC grew its holdings in DocuSign by 50.0% during the third quarter. Performa Ltd US LLC now owns 825 shares of the company’s stock valued at $35,000 after purchasing an additional 275 shares during the period. Finally, Register Financial Advisors LLC bought a new stake in DocuSign in the first quarter valued at approximately $37,000. 77.64% of the stock is owned by institutional investors and hedge funds.

DocuSign Company Profile

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides 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; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.