DocuSign (NASDAQ:DOCU) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

DocuSign (NASDAQ:DOCU) had its target price lifted by JPMorgan Chase & Co. from $50.00 to $70.00 in a research note released on Tuesday morning,Benzinga reports. They currently have an underweight rating on the stock.

DOCU has been the topic of a number of other research reports. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Wells Fargo & Company increased their target price on DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Bank of America boosted their price target on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Citigroup increased their price objective on DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Finally, JMP Securities boosted their target price on DocuSign from $84.00 to $108.00 and gave the stock a “market outperform” rating in a research report on Friday, November 22nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $70.73.

DocuSign Stock Up 0.2 %

DOCU stock opened at $80.45 on Tuesday. The business has a 50 day moving average of $72.86 and a 200 day moving average of $61.36. DocuSign has a twelve month low of $44.34 and a twelve month high of $86.75. The firm has a market cap of $16.33 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 8.31 and a beta of 0.92.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.17. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The firm had revenue of $736.03 million during the quarter, compared to analyst estimates of $727.20 million. During the same quarter in the previous year, the firm earned $0.09 EPS. DocuSign’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, research analysts expect that DocuSign will post 1.03 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $56.56, for a total value of $30,203.04. Following the transaction, the director now directly owns 7,202 shares of the company’s stock, valued at approximately $407,345.12. This trade represents a 6.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Chatwani sold 14,799 shares of the business’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 sale, 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 69,596 shares of company stock valued at $4,441,529 in the last quarter. 1.66% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DocuSign

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

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.