DocuSign (NASDAQ:DOCU) Raised to “Outperform” at William Blair

DocuSign (NASDAQ:DOCU) was upgraded by equities researchers at William Blair from a “market perform” rating to an “outperform” rating in a research note issued to investors on Monday, MarketBeat reports.

Several other analysts also recently weighed in on DOCU. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research note on Friday, March 14th. Wedbush reiterated a “neutral” rating and set a $100.00 price target on shares of DocuSign in a research note on Friday, March 14th. JPMorgan Chase & Co. upgraded DocuSign from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $70.00 to $75.00 in a research note on Monday, March 10th. Piper Sandler boosted their price target on DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $90.00 price target on shares of DocuSign in a research note on Friday, March 14th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $95.00.

DocuSign Trading Up 1.9 %

Shares of DOCU stock opened at $85.01 on Monday. DocuSign has a twelve month low of $48.70 and a twelve month high of $107.86. The stock has a market capitalization of $17.17 billion, a price-to-earnings ratio of 17.53, a P/E/G ratio of 6.94 and a beta of 1.02. The stock has a fifty day simple moving average of $87.75 and a two-hundred day simple moving average of $79.87.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, March 13th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.84 by $0.02. The firm had revenue of $776.25 million during the quarter, compared to analyst estimates of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.76 EPS. Research analysts predict that DocuSign will post 1.17 EPS for the current fiscal year.

Insider Buying and Selling at DocuSign

In related news, CEO Allan C. Thygesen sold 40,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the completion of the sale, the chief executive officer now directly owns 156,050 shares of the company’s stock, valued at approximately $14,050,742. This represents a 20.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $86.90, for a total transaction of $695,200.00. Following the sale, the chief financial officer now directly owns 77,851 shares of the company’s stock, valued at approximately $6,765,251.90. This trade represents a 9.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 66,034 shares of company stock worth $5,932,352. Insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On DocuSign

Several large investors have recently modified their holdings of the stock. Citizens Financial Group Inc. RI lifted its position in shares of DocuSign by 2.3% during the fourth quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company’s stock worth $539,000 after purchasing an additional 133 shares during the last quarter. Rakuten Securities Inc. raised its stake in DocuSign by 20.9% during the fourth quarter. Rakuten Securities Inc. now owns 797 shares of the company’s stock worth $72,000 after acquiring an additional 138 shares during the period. Synergy Financial Group LTD raised its stake in DocuSign by 3.4% during the fourth quarter. Synergy Financial Group LTD now owns 4,241 shares of the company’s stock worth $381,000 after acquiring an additional 140 shares during the period. M&T Bank Corp raised its stake in DocuSign by 1.3% during the fourth quarter. M&T Bank Corp now owns 10,840 shares of the company’s stock worth $975,000 after acquiring an additional 143 shares during the period. Finally, TD Waterhouse Canada Inc. raised its stake in DocuSign by 34.5% during the fourth quarter. TD Waterhouse Canada Inc. now owns 557 shares of the company’s stock worth $50,000 after acquiring an additional 143 shares during the period. Institutional investors own 77.64% of the company’s stock.

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.