DocuSign (NASDAQ:DOCU) Rating Reiterated by JMP Securities

DocuSign (NASDAQ:DOCU)‘s stock had its “market outperform” rating restated by investment analysts at JMP Securities in a research note issued on Wednesday, Benzinga reports. They currently have a $84.00 price target on the stock. JMP Securities’ target price indicates a potential upside of 54.72% from the stock’s current price.

DOCU has been the subject of several other reports. Morgan Stanley decreased their price target on shares of DocuSign from $65.00 to $62.00 and set an “equal weight” rating for the company in a report on Friday, June 7th. Royal Bank of Canada cut their price objective on shares of DocuSign from $59.00 to $52.00 and set a “sector perform” rating on the stock in a research note on Friday, June 7th. Bank of America decreased their target price on shares of DocuSign from $72.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, June 7th. Robert W. Baird lowered their price objective on shares of DocuSign from $65.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, June 7th. Finally, UBS Group upgraded DocuSign from a “sell” rating to a “neutral” rating and lifted their price target for the company from $48.00 to $62.00 in a research report on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $59.36.

DocuSign Stock Performance

DOCU opened at $54.29 on Wednesday. DocuSign has a 1-year low of $38.11 and a 1-year high of $64.76. The company has a 50-day moving average of $55.09 and a 200-day moving average of $56.42. The company has a market capitalization of $11.11 billion, a P/E ratio of 104.40, a PEG ratio of 4.47 and a beta of 0.94.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, June 6th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.09. DocuSign had a return on equity of 15.44% and a net margin of 3.81%. The company had revenue of $709.64 million for the quarter, compared to the consensus estimate of $706.07 million. As a group, sell-side analysts expect that DocuSign will post 0.88 earnings per share for the current fiscal year.

Insider Buying and Selling at DocuSign

In related news, CEO Allan C. Thygesen sold 8,086 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $56.16, for a total value of $454,109.76. Following the completion of the transaction, the chief executive officer now directly owns 99,546 shares in the company, valued at approximately $5,590,503.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Stephen Shute sold 35,300 shares of the stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $52.87, for a total transaction of $1,866,311.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Allan C. Thygesen sold 8,086 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $56.16, for a total transaction of $454,109.76. Following the completion of the sale, the chief executive officer now directly owns 99,546 shares of the company’s stock, valued at approximately $5,590,503.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 117,518 shares of company stock valued at $6,149,670. 1.66% of the stock is currently owned by insiders.

Institutional Trading of DocuSign

Several large investors have recently modified their holdings of the stock. Massmutual Trust Co. FSB ADV grew its stake in DocuSign by 5,000.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after buying an additional 500 shares in the last quarter. Capital Analysts LLC raised its position in DocuSign by 781.7% during the fourth quarter. Capital Analysts LLC now owns 529 shares of the company’s stock valued at $31,000 after purchasing an additional 469 shares in the last quarter. McGlone Suttner Wealth Management Inc. bought a new stake in DocuSign during the fourth quarter worth $32,000. Mather Group LLC. boosted its holdings in shares of DocuSign by 4,338.5% in the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock valued at $31,000 after purchasing an additional 564 shares in the last quarter. Finally, Register Financial Advisors LLC bought a new stake in shares of DocuSign during the first quarter worth $37,000. 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.