DocuSign (NASDAQ:DOCU) Price Target Raised to $115.00

DocuSign (NASDAQ:DOCU) had its price objective lifted by Citigroup from $113.00 to $115.00 in a research report report published on Friday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other analysts have also recently weighed in on DOCU. Morgan Stanley raised their price objective on DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Hsbc Global Res raised DocuSign to a “moderate sell” rating in a research report on Friday, December 6th. Wedbush reissued a “neutral” rating and issued a $100.00 price objective on shares of DocuSign in a research report on Friday. Bank of America reduced their target price on DocuSign from $112.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday. Finally, JMP Securities restated a “market outperform” rating and issued a $124.00 target price on shares of DocuSign in a research note on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $95.58.

DocuSign Trading Up 14.8 %

Shares of NASDAQ DOCU opened at $85.76 on Friday. The stock has a market capitalization of $17.33 billion, a PE ratio of 17.68, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02. DocuSign has a 12-month low of $48.70 and a 12-month high of $107.86. The stock’s fifty day simple moving average is $87.97 and its two-hundred day simple moving average is $79.52.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. The firm had revenue of $776.25 million during the quarter, compared to analysts’ expectations of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.76 EPS. On average, equities analysts predict that DocuSign will post 1.17 earnings per share for the current fiscal year.

Insider Buying and Selling at DocuSign

In other DocuSign news, insider Robert Chatwani sold 14,800 shares of DocuSign stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $97.76, for a total transaction of $1,446,848.00. Following the completion of the transaction, the insider now owns 73,414 shares in the company, valued at approximately $7,176,952.64. This trade represents a 16.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Allan C. Thygesen sold 40,000 shares of DocuSign stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total value of $3,601,600.00. Following the transaction, the chief executive officer now owns 156,050 shares of the company’s stock, valued at $14,050,742. The trade was a 20.40 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 95,888 shares of company stock worth $8,856,718. Insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On DocuSign

A number of institutional investors have recently modified their holdings of DOCU. FMR LLC increased its stake in shares of DocuSign by 178.2% in the 4th quarter. FMR LLC now owns 6,101,024 shares of the company’s stock valued at $548,726,000 after purchasing an additional 3,908,139 shares in the last quarter. State Street Corp increased its stake in shares of DocuSign by 2.3% in the 3rd quarter. State Street Corp now owns 5,372,939 shares of the company’s stock valued at $333,604,000 after purchasing an additional 120,743 shares in the last quarter. American Century Companies Inc. increased its stake in shares of DocuSign by 18.5% in the 4th quarter. American Century Companies Inc. now owns 5,315,459 shares of the company’s stock valued at $478,072,000 after purchasing an additional 831,611 shares in the last quarter. Jericho Capital Asset Management L.P. increased its stake in shares of DocuSign by 34.0% in the 4th quarter. Jericho Capital Asset Management L.P. now owns 4,754,753 shares of the company’s stock valued at $427,642,000 after purchasing an additional 1,205,500 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of DocuSign by 4.9% in the 4th quarter. Renaissance Technologies LLC now owns 4,363,292 shares of the company’s stock valued at $392,434,000 after purchasing an additional 205,304 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

About DocuSign

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.