Analysts Set DocuSign, Inc. (NASDAQ:DOCU) Price Target at $58.33

Shares of DocuSign, Inc. (NASDAQ:DOCU) have received a consensus recommendation of “Hold” from the eleven brokerages that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $60.25.

DOCU has been the topic of a number of research analyst reports. TheStreet upgraded shares of DocuSign from a “d+” rating to a “c-” rating in a research note on Tuesday, December 19th. Morgan Stanley upgraded 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 note on Tuesday, January 16th. UBS Group upgraded DocuSign from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $48.00 to $62.00 in a research note on Friday, April 12th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a report on Friday, April 12th. Finally, Wells Fargo & Company reduced their target price on DocuSign from $55.00 to $45.00 and set an “underweight” rating on the stock in a report on Monday, February 5th.

Insider Buying and Selling

In other DocuSign news, CEO Allan C. Thygesen sold 7,680 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $61.27, for a total transaction of $470,553.60. Following the completion of the transaction, the chief executive officer now directly owns 111,767 shares of the company’s stock, valued at approximately $6,847,964.09. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Teresa Briggs sold 499 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $52.99, for a total transaction of $26,442.01. Following the completion of the transaction, the director now owns 6,169 shares in the company, valued at approximately $326,895.31. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Allan C. Thygesen sold 7,680 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $61.27, for a total transaction of $470,553.60. Following the completion of the sale, the chief executive officer now owns 111,767 shares in the company, valued at $6,847,964.09. The disclosure for this sale can be found here. Insiders have sold a total of 54,871 shares of company stock valued at $3,176,199 over the last quarter. Corporate insiders own 17.80% of the company’s stock.

Institutional Trading of DocuSign

Large investors have recently added to or reduced their stakes in the business. Register Financial Advisors LLC bought a new position in shares of DocuSign in the first quarter valued at $37,000. Sovereign Financial Group Inc. acquired a new position in shares of DocuSign in the 1st quarter worth $234,000. Sunbelt Securities Inc. raised its position in shares of DocuSign by 20.1% during the first quarter. Sunbelt Securities Inc. now owns 3,412 shares of the company’s stock worth $203,000 after purchasing an additional 572 shares during the period. Gilman Hill Asset Management LLC lifted its holdings in shares of DocuSign by 0.9% during the first quarter. Gilman Hill Asset Management LLC now owns 75,726 shares of the company’s stock valued at $4,509,000 after purchasing an additional 685 shares during the last quarter. Finally, RFG Advisory LLC acquired a new position in shares of DocuSign in the 1st quarter valued at $229,000. 77.64% of the stock is currently owned by institutional investors.

DocuSign Price Performance

Shares of DOCU stock opened at $57.74 on Wednesday. The company’s fifty day moving average price is $55.55 and its two-hundred day moving average price is $51.95. The firm has a market capitalization of $11.86 billion, a P/E ratio of 160.39, a P/E/G ratio of 5.15 and a beta of 0.89. DocuSign has a 12 month low of $38.11 and a 12 month high of $64.76.

DocuSign (NASDAQ:DOCU) last announced its earnings results on Thursday, March 7th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. The company had revenue of $712.39 million for the quarter, compared to analyst estimates of $698.05 million. DocuSign had a return on equity of 13.91% and a net margin of 2.68%. On average, sell-side analysts anticipate that DocuSign will post 0.86 EPS for the current year.

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.