DocuSign (NASDAQ:DOCU – Get Free Report) was upgraded by analysts at HSBC from a “reduce” rating to a “hold” rating in a report released on Friday, MarketBeat.com reports. The brokerage presently has a $70.00 target price on the stock. HSBC’s target price points to a potential downside of 5.85% from the company’s previous close.
Several other research firms also recently commented on DOCU. Bank of America decreased their price objective on DocuSign from $112.00 to $98.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. JPMorgan Chase & Co. raised DocuSign from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $70.00 to $75.00 in a research note on Monday, March 10th. Wells Fargo & Company lifted their target price on shares of DocuSign from $70.00 to $73.00 and gave the stock an “underweight” rating in a research note on Friday, March 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 price objective on shares of DocuSign in a research note on Friday, March 14th. Finally, Jefferies Financial Group reduced their target price on DocuSign from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $93.85.
Check Out Our Latest Report on DOCU
DocuSign Trading Up 1.5 %
DocuSign (NASDAQ:DOCU – Get Free Report) last posted 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. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The firm had revenue of $776.25 million for the quarter, compared to the consensus estimate of $760.94 million. During the same period last year, the firm posted $0.76 earnings per share. The business’s revenue was up 9.0% compared to the same quarter last year. On average, equities research analysts predict that DocuSign will post 1.17 EPS for the current year.
Insider Transactions at DocuSign
In other DocuSign news, CFO Blake Jeffrey Grayson sold 8,000 shares of DocuSign stock in a transaction on Friday, February 14th. The stock was sold at an average price of $86.90, for a total value of $695,200.00. Following the completion of the sale, the chief financial officer now 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider James P. Shaughnessy sold 7,500 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $81.31, for a total value of $609,825.00. Following the completion of the transaction, the insider now owns 45,875 shares of the company’s stock, valued at $3,730,096.25. This represents a 14.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,851 shares of company stock valued at $3,998,719 in the last quarter. 1.66% of the stock is owned by insiders.
Institutional Investors Weigh In On DocuSign
Large investors have recently bought and sold shares of the business. Janus Henderson Group PLC boosted its holdings in shares of DocuSign by 13.1% during the 3rd quarter. Janus Henderson Group PLC now owns 12,110 shares of the company’s stock valued at $752,000 after acquiring an additional 1,398 shares during the last quarter. Kovitz Investment Group Partners LLC bought a new position in DocuSign during the third quarter valued at approximately $350,000. EP Wealth Advisors LLC purchased a new stake in DocuSign in the third quarter worth approximately $205,000. MML Investors Services LLC grew its position in DocuSign by 60.5% in the 3rd quarter. MML Investors Services LLC now owns 12,034 shares of the company’s stock worth $747,000 after purchasing an additional 4,538 shares during the period. Finally, M&T Bank Corp raised its stake in DocuSign by 5.5% during the 3rd quarter. M&T Bank Corp now owns 10,697 shares of the company’s stock valued at $664,000 after buying an additional 558 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors.
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.
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