DocuSign (NASDAQ:DOCU) Stock Price Expected to Rise, JMP Securities Analyst Says

DocuSign (NASDAQ:DOCU) had its target price raised by JMP Securities from $84.00 to $108.00 in a research note released on Friday,Benzinga reports. They currently have a market outperform rating on the stock.

A number of other analysts have also weighed in on the company. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Bank of America upped their target price on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Wells Fargo & Company upped their target price on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Robert W. Baird upped their target price on DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Finally, Royal Bank of Canada upped their target price on DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a report on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $65.80.

DocuSign Stock Performance

Shares of NASDAQ DOCU opened at $83.03 on Friday. The firm has a market capitalization of $16.85 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 8.48 and a beta of 0.90. The stock has a 50 day moving average price of $69.47 and a 200 day moving average price of $60.27. DocuSign has a 52-week low of $42.13 and a 52-week high of $83.68.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. The firm had revenue of $736.03 million during the quarter, compared to analyst estimates of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. DocuSign’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.09 earnings per share. Analysts forecast that DocuSign will post 1.01 earnings per share for the current year.

Insider Transactions at DocuSign

In related news, CEO Allan C. Thygesen sold 7,725 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $59.09, for a total value of $456,470.25. Following the transaction, the chief executive officer now directly owns 102,193 shares of the company’s stock, valued at $6,038,584.37. This represents a 7.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $56.56, for a total value of $30,203.04. Following the completion of the transaction, the director now directly owns 7,202 shares in the company, valued at approximately $407,345.12. The trade was a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,558 shares of company stock valued at $4,272,768. Corporate insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On DocuSign

Several hedge funds have recently made changes to their positions in DOCU. Itau Unibanco Holding S.A. acquired a new stake in DocuSign during the 3rd quarter worth about $28,000. Massmutual Trust Co. FSB ADV grew its position in DocuSign by 5,000.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after purchasing an additional 500 shares during the period. Brooklyn Investment Group acquired a new stake in DocuSign during the 3rd quarter worth about $33,000. Mather Group LLC. grew its position in DocuSign by 4,338.5% during the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after purchasing an additional 564 shares during the period. Finally, Reston Wealth Management LLC acquired a new stake in DocuSign during the 3rd quarter worth about $47,000. 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.