DocuSign (NASDAQ:DOCU) Receives “Neutral” Rating from Wedbush

Wedbush reissued their neutral rating on shares of DocuSign (NASDAQ:DOCU) in a research report released on Friday morning,Benzinga reports. Wedbush currently has a $100.00 price target on the stock.

DOCU has been the subject of a number of other reports. Morgan Stanley upped their price objective on shares of DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 price objective (up from $57.00) on shares of DocuSign in a research note on Friday, December 6th. Wells Fargo & Company increased their price target on shares of DocuSign from $70.00 to $73.00 and gave the stock an “underweight” rating in a research report on Friday. Jefferies Financial Group increased their price target on shares of DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. raised shares of DocuSign from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $70.00 to $75.00 in a research report on Monday, March 10th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $95.58.

DocuSign Trading Up 14.8 %

NASDAQ:DOCU opened at $85.76 on Friday. DocuSign has a twelve month low of $48.70 and a twelve month high of $107.86. The company has a 50-day moving average of $87.97 and a 200-day moving average of $79.22. The firm has a market cap of $17.33 billion, a price-to-earnings ratio of 17.68, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.02. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The company had revenue of $776.25 million during the quarter, compared to analyst estimates of $760.94 million. During the same quarter last year, the firm posted $0.76 EPS. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, research analysts forecast that DocuSign will post 1.17 earnings per share for the current year.

Insider Activity at DocuSign

In other DocuSign news, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Allan C. Thygesen sold 40,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total value of $3,601,600.00. Following the transaction, the chief executive officer now owns 156,050 shares in the company, valued at approximately $14,050,742. This trade represents a 20.40 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 104,422 shares of company stock valued at $9,665,394. 1.66% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DocuSign

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Citizens Financial Group Inc. RI grew its holdings in DocuSign by 2.3% during the fourth quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company’s stock valued at $539,000 after purchasing an additional 133 shares during the last quarter. Rakuten Securities Inc. grew its holdings in DocuSign by 20.9% during the fourth quarter. Rakuten Securities Inc. now owns 797 shares of the company’s stock valued at $72,000 after purchasing an additional 138 shares during the last quarter. Synergy Financial Group LTD grew its holdings in DocuSign by 3.4% during the fourth quarter. Synergy Financial Group LTD now owns 4,241 shares of the company’s stock valued at $381,000 after purchasing an additional 140 shares during the last quarter. M&T Bank Corp grew its holdings in DocuSign by 1.3% during the fourth quarter. M&T Bank Corp now owns 10,840 shares of the company’s stock valued at $975,000 after purchasing an additional 143 shares during the last quarter. Finally, TD Waterhouse Canada Inc. grew its holdings in DocuSign by 34.5% during the fourth quarter. TD Waterhouse Canada Inc. now owns 557 shares of the company’s stock valued at $50,000 after purchasing an additional 143 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

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.