DocuSign (NASDAQ:DOCU) Stock Price Expected to Rise, JMP Securities Analyst Says

DocuSign (NASDAQ:DOCU) had its price target boosted by JMP Securities from $84.00 to $108.00 in a report issued on Friday morning,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

DOCU has been the topic of a number of other research reports. Citigroup increased their price objective on DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Royal Bank of Canada raised their target price on shares of DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Friday, September 6th. Wells Fargo & Company increased their price target on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. Bank of America upped their target price on DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $65.80.

DocuSign Stock Performance

Shares of DOCU stock opened at $85.51 on Friday. The stock has a fifty day moving average price of $70.04 and a 200 day moving average price of $60.46. The stock has a market cap of $17.36 billion, a PE ratio of 18.04, a P/E/G ratio of 8.79 and a beta of 0.90. DocuSign has a 1 year low of $42.13 and a 1 year high of $86.50.

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

Insider Activity

In other DocuSign news, insider Robert Chatwani sold 14,799 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total value of $820,752.54. Following the completion of the sale, the insider now owns 70,748 shares of the company’s stock, valued at $3,923,684.08. This trade represents a 17.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $543,091.80. Following the transaction, the chief executive officer now directly owns 107,825 shares in the company, valued at approximately $7,542,358.75. The trade was a 6.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,558 shares of company stock valued at $4,272,768. Company insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On DocuSign

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. J.W. Cole Advisors Inc. lifted its stake in shares of DocuSign by 2.0% in the third quarter. J.W. Cole Advisors Inc. now owns 7,946 shares of the company’s stock worth $493,000 after acquiring an additional 155 shares in the last quarter. Resonant Capital Advisors LLC increased its holdings in DocuSign by 0.9% during the 3rd quarter. Resonant Capital Advisors LLC now owns 17,516 shares of the company’s stock worth $1,088,000 after purchasing an additional 157 shares during the last quarter. Optimist Retirement Group LLC raised its position in shares of DocuSign by 3.8% in the 3rd quarter. Optimist Retirement Group LLC now owns 4,416 shares of the company’s stock valued at $274,000 after purchasing an additional 161 shares in the last quarter. V Square Quantitative Management LLC boosted its stake in shares of DocuSign by 6.0% during the 3rd quarter. V Square Quantitative Management LLC now owns 3,019 shares of the company’s stock valued at $187,000 after buying an additional 172 shares during the last quarter. Finally, Dakota Wealth Management grew its position in shares of DocuSign by 0.8% during the second quarter. Dakota Wealth Management now owns 23,022 shares of the company’s stock worth $1,232,000 after buying an additional 181 shares in the last quarter. 77.64% of the stock is owned by hedge funds and other 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.