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

JMP Securities reaffirmed their market outperform rating on shares of DocuSign (NASDAQ:DOCU) in a research report sent to investors on Thursday, Benzinga reports. They currently have a $84.00 target price on the stock.

Several other analysts have also recently issued reports on the company. Citigroup reduced their price objective on DocuSign from $93.00 to $86.00 and set a buy rating on the stock in a research note on Wednesday, June 5th. Piper Sandler lowered their price objective on DocuSign from $65.00 to $60.00 and set a neutral rating on the stock in a report on Friday, June 7th. Needham & Company LLC reiterated a hold rating on shares of DocuSign in a research report on Friday, August 16th. Robert W. Baird cut their price objective on DocuSign from $65.00 to $55.00 and set a neutral rating for the company in a research report on Friday, June 7th. Finally, Bank of America lowered their target price on shares of DocuSign from $72.00 to $60.00 and set a neutral rating for the company in a research note on Friday, June 7th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $61.45.

DocuSign Stock Up 4.0 %

Shares of DOCU stock opened at $59.19 on Thursday. The stock has a market cap of $12.12 billion, a PE ratio of 113.83, a price-to-earnings-growth ratio of 9.74 and a beta of 0.93. DocuSign has a 52-week low of $38.11 and a 52-week high of $64.76. The business has a 50-day simple moving average of $55.44 and a 200-day simple moving average of $55.95.

DocuSign (NASDAQ:DOCU) last announced its earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. The business had revenue of $736.03 million during the quarter, compared to analysts’ expectations of $727.20 million. DocuSign had a return on equity of 15.44% and a net margin of 3.81%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.09 earnings per share. Sell-side analysts anticipate that DocuSign will post 0.83 earnings per share for the current fiscal year.

Insider Activity at DocuSign

In other DocuSign news, Director Daniel D. Springer sold 287,052 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $53.78, for a total transaction of $15,437,656.56. Following the sale, the director now directly owns 923,445 shares in the company, valued at approximately $49,662,872.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Allan C. Thygesen sold 7,725 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $59.09, for a total value of $456,470.25. Following the transaction, the chief executive officer now owns 102,193 shares of the company’s stock, valued at $6,038,584.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel D. Springer sold 287,052 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $53.78, for a total value of $15,437,656.56. Following the sale, the director now directly owns 923,445 shares in the company, valued at approximately $49,662,872.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 482,418 shares of company stock worth $25,524,100. 1.66% of the stock is owned by insiders.

Hedge Funds Weigh In On DocuSign

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Metis Global Partners LLC acquired a new position in DocuSign in the 4th quarter valued at approximately $208,000. Charles Schwab Investment Management Inc. increased its holdings in DocuSign by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,260,296 shares of the company’s stock valued at $74,925,000 after purchasing an additional 44,646 shares during the period. Comerica Bank raised its position in DocuSign by 228.8% during the 1st quarter. Comerica Bank now owns 28,901 shares of the company’s stock worth $1,721,000 after purchasing an additional 20,110 shares during the last quarter. Vanguard Group Inc. raised its position in DocuSign by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 21,399,739 shares of the company’s stock worth $1,272,214,000 after purchasing an additional 417,352 shares during the last quarter. Finally, KBC Group NV lifted its holdings in DocuSign by 119.3% during the 4th quarter. KBC Group NV now owns 739,196 shares of the company’s stock worth $43,945,000 after buying an additional 402,084 shares during the period. 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.