DocuSign, Inc. (NASDAQ:DOCU) Given Consensus Recommendation of “Hold” by Brokerages

DocuSign, Inc. (NASDAQ:DOCU) has earned an average recommendation of “Hold” from the eleven brokerages that are presently covering the firm, Marketbeat 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 twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $65.80.

DOCU has been the topic of a number of analyst reports. Wells Fargo & Company increased their price target on DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Bank of America boosted their price objective on shares of DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. JMP Securities lifted their price objective on DocuSign from $84.00 to $108.00 and gave the stock a “market outperform” rating in a research report on Friday. Finally, Citigroup upped their target price on DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, September 6th.

DocuSign Price Performance

Shares of DocuSign stock opened at $85.51 on Thursday. The stock has a market capitalization of $17.36 billion, a P/E ratio of 18.04, a PEG ratio of 8.79 and a beta of 0.90. The business has a 50 day simple moving average of $70.04 and a two-hundred day simple moving average of $60.46. DocuSign has a 12 month low of $42.13 and a 12 month high of $86.50.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.17. The company had revenue of $736.03 million during the quarter, compared to analysts’ expectations of $727.20 million. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. DocuSign’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.09 EPS. As a group, research analysts anticipate that DocuSign will post 1.01 EPS for the current fiscal year.

Insider Buying and Selling at DocuSign

In other news, CEO Allan C. Thygesen sold 7,764 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $69.95, for a total value of $543,091.80. Following the sale, the chief executive officer now owns 107,825 shares of the company’s stock, valued at approximately $7,542,358.75. The trade was a 6.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert Chatwani sold 14,799 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total value of $820,752.54. Following the transaction, the insider now directly owns 70,748 shares of the company’s stock, valued at $3,923,684.08. This represents a 17.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,558 shares of company stock worth $4,272,768 over the last ninety days. Company insiders own 1.66% of the company’s stock.

Institutional Trading of DocuSign

Hedge funds and other institutional investors have recently made changes to their positions in the business. Tidal Investments LLC grew its holdings in shares of DocuSign by 62.8% during the third quarter. Tidal Investments LLC now owns 44,946 shares of the company’s stock valued at $2,791,000 after buying an additional 17,339 shares in the last quarter. Optimist Retirement Group LLC increased its position in DocuSign by 3.8% in the 3rd quarter. Optimist Retirement Group LLC now owns 4,416 shares of the company’s stock worth $274,000 after purchasing an additional 161 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of DocuSign during the 3rd quarter worth about $51,000. World Investment Advisors LLC acquired a new stake in shares of DocuSign during the 3rd quarter valued at about $2,314,000. Finally, Toronto Dominion Bank increased its holdings in DocuSign by 30.3% in the third quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock worth $1,624,000 after buying an additional 6,081 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.