DocuSign (NASDAQ:DOCU) Earns “Market Outperform” Rating from JMP Securities

JMP Securities restated their market outperform rating on shares of DocuSign (NASDAQ:DOCU) in a research report sent to investors on Friday morning, Benzinga reports. JMP Securities currently has a $84.00 price objective on the stock.

A number of other research firms have also recently commented on DOCU. Morgan Stanley raised shares of DocuSign from an underweight rating to an equal weight rating and upped their target price for the company from $49.00 to $64.00 in a research report on Tuesday, January 16th. UBS Group raised shares of DocuSign from a sell rating to a neutral rating and increased their price objective for the stock from $48.00 to $62.00 in a research report on Friday. TheStreet raised DocuSign from a d+ rating to a c- rating in a research report on Tuesday, December 19th. Needham & Company LLC reaffirmed a hold rating on shares of DocuSign in a research note on Friday. Finally, Wells Fargo & Company cut their price objective on DocuSign from $55.00 to $45.00 and set an underweight rating on the stock in a report on Monday, February 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Hold and an average target price of $60.25.

DocuSign Price Performance

Shares of DOCU stock opened at $56.67 on Friday. The firm’s 50-day moving average is $55.44 and its two-hundred day moving average is $51.84. DocuSign has a 12 month low of $38.11 and a 12 month high of $64.76. The company has a market capitalization of $11.64 billion, a PE ratio of 157.42, a price-to-earnings-growth ratio of 5.15 and a beta of 0.89.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings data on Thursday, March 7th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.06. DocuSign had a return on equity of 13.91% and a net margin of 2.68%. The company had revenue of $712.39 million during the quarter, compared to analyst estimates of $698.05 million. Sell-side analysts forecast that DocuSign will post 0.86 EPS for the current year.

Insider Buying and Selling

In other DocuSign news, Director Teresa Briggs sold 499 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $52.99, for a total value of $26,442.01. Following the sale, the director now directly owns 6,169 shares in the company, valued at $326,895.31. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Peter Solvik sold 15,000 shares of the business’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $60.00, for a total value of $900,000.00. Following the completion of the sale, the director now directly owns 783 shares of the company’s stock, valued at $46,980. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Teresa Briggs sold 499 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $52.99, for a total value of $26,442.01. Following the transaction, the director now directly owns 6,169 shares in the company, valued at approximately $326,895.31. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,871 shares of company stock worth $3,176,199. Corporate insiders own 17.80% of the company’s stock.

Institutional Trading of DocuSign

A number of large investors have recently made changes to their positions in DOCU. Coatue Management LLC purchased a new position in shares of DocuSign during the fourth quarter worth approximately $288,274,000. Capital World Investors increased its stake in DocuSign by 128.3% in the first quarter. Capital World Investors now owns 5,683,838 shares of the company’s stock valued at $608,853,000 after purchasing an additional 3,193,727 shares during the period. Vanguard Group Inc. increased its stake in DocuSign by 20.3% in the first quarter. Vanguard Group Inc. now owns 17,308,877 shares of the company’s stock valued at $1,854,127,000 after purchasing an additional 2,917,683 shares during the period. Norges Bank acquired a new stake in shares of DocuSign during the fourth quarter worth about $133,826,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of DocuSign by 256.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,545,176 shares of the company’s stock worth $148,384,000 after buying an additional 1,831,001 shares during the period. 77.64% of the stock is owned by institutional investors and hedge funds.

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.