DocuSign (NASDAQ:DOCU) Price Target Raised to $115.00 at Citigroup

DocuSign (NASDAQ:DOCU) had its price objective upped by equities research analysts at Citigroup from $113.00 to $115.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price points to a potential upside of 33.31% from the stock’s previous close.

A number of other analysts have also recently weighed in on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $124.00 price target on shares of DocuSign in a research report on Tuesday, January 7th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research report on Friday. Jefferies Financial Group upped their price objective on shares of DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Wedbush reissued a “neutral” rating and issued a $100.00 price objective on shares of DocuSign in a research report on Friday. Finally, Hsbc Global Res raised shares of DocuSign to a “moderate sell” rating in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $95.58.

DocuSign Stock Performance

DocuSign stock traded up $11.56 during trading on Friday, reaching $86.26. 8,989,861 shares of the company’s stock were exchanged, compared to its average volume of 2,333,131. The company’s 50-day moving average is $88.06 and its two-hundred day moving average is $79.04. DocuSign has a 52-week low of $48.70 and a 52-week high of $107.86. The firm has a market cap of $17.43 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 6.94 and a beta of 1.02.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $760.94 million. During the same period in the prior year, the company earned $0.76 EPS. The firm’s revenue was up 9.0% on a year-over-year basis. Analysts anticipate that DocuSign will post 1.17 EPS for the current year.

Insider Buying and Selling

In related news, insider Robert Chatwani sold 14,800 shares of DocuSign stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $97.76, for a total value of $1,446,848.00. Following the transaction, the insider now owns 73,414 shares in the company, valued at $7,176,952.64. This trade represents a 16.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of DocuSign stock in a transaction on Monday, December 16th. The stock was sold at an average price of $94.77, for a total transaction of $758,160.00. Following the completion of the transaction, the chief financial officer now owns 101,439 shares in the company, valued at $9,613,374.03. This trade represents a 7.31 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 104,422 shares of company stock worth $9,665,394. Corporate insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. US Bancorp DE grew its position in DocuSign by 12.6% in the 3rd quarter. US Bancorp DE now owns 3,561 shares of the company’s stock worth $221,000 after purchasing an additional 398 shares during the last quarter. Apollon Wealth Management LLC acquired a new stake in DocuSign in the 3rd quarter worth $203,000. Sumitomo Mitsui Trust Group Inc. grew its position in DocuSign by 10.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 475,113 shares of the company’s stock worth $29,500,000 after purchasing an additional 44,615 shares during the last quarter. Victory Capital Management Inc. grew its position in DocuSign by 211.4% in the 3rd quarter. Victory Capital Management Inc. now owns 409,877 shares of the company’s stock worth $25,449,000 after purchasing an additional 278,252 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its position in DocuSign by 9.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 5,442 shares of the company’s stock worth $338,000 after purchasing an additional 481 shares during the last quarter. Institutional investors own 77.64% of the company’s stock.

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.