Docusign Inc. (NASDAQ:DOCU) Receives Consensus Rating of “Hold” from Analysts

Shares of Docusign Inc. (NASDAQ:DOCU) have earned a consensus recommendation of “Hold” from the nineteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $61.40.

A number of research firms have issued reports on DOCU. Robert W. Baird lowered their target price on Docusign from $75.00 to $55.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. Wells Fargo & Company lowered their target price on Docusign from $75.00 to $60.00 and set an “equal weight” rating for the company in a report on Wednesday, March 18th. Weiss Ratings cut Docusign from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, April 15th. Royal Bank Of Canada lowered their target price on Docusign from $70.00 to $55.00 and set a “sector perform” rating for the company in a report on Wednesday, March 18th. Finally, HSBC set a $53.00 price objective on Docusign in a report on Friday, February 13th.

Insider Buying and Selling

In other news, insider James P. Shaughnessy sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $46.83, for a total value of $561,960.00. Following the completion of the transaction, the insider owned 53,631 shares in the company, valued at $2,511,539.73. This trade represents a 18.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Chatwani sold 16,696 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $48.10, for a total value of $803,077.60. Following the completion of the transaction, the insider owned 72,458 shares of the company’s stock, valued at $3,485,229.80. The trade was a 18.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 64,673 shares of company stock worth $3,077,699 over the last three months. Company insiders own 1.01% of the company’s stock.

Hedge Funds Weigh In On Docusign

Several hedge funds have recently modified their holdings of DOCU. Norges Bank bought a new position in shares of Docusign in the 4th quarter valued at about $186,795,000. Capital World Investors grew its holdings in shares of Docusign by 38.1% in the 4th quarter. Capital World Investors now owns 5,815,804 shares of the company’s stock valued at $397,801,000 after acquiring an additional 1,603,900 shares in the last quarter. SG Americas Securities LLC lifted its stake in Docusign by 452.3% in the 1st quarter. SG Americas Securities LLC now owns 1,314,632 shares of the company’s stock valued at $62,327,000 after purchasing an additional 1,076,622 shares during the last quarter. Woodline Partners LP lifted its stake in Docusign by 24,412.7% in the 3rd quarter. Woodline Partners LP now owns 958,938 shares of the company’s stock valued at $69,130,000 after purchasing an additional 955,026 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Docusign by 46.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,001,132 shares of the company’s stock valued at $205,277,000 after purchasing an additional 946,512 shares during the last quarter. Institutional investors own 77.64% of the company’s stock.

Docusign Trading Down 3.8%

DOCU stock opened at $46.53 on Thursday. The stock has a 50-day moving average price of $46.71 and a two-hundred day moving average price of $57.31. The stock has a market cap of $9.04 billion, a PE ratio of 31.44, a price-to-earnings-growth ratio of 1.85 and a beta of 0.88. Docusign has a 1 year low of $40.16 and a 1 year high of $94.67.

Docusign (NASDAQ:DOCU) last released its earnings results on Tuesday, March 17th. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. The firm had revenue of $836.86 million during the quarter, compared to analysts’ expectations of $828.23 million. Docusign had a return on equity of 16.86% and a net margin of 9.60%.The company’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 EPS. On average, analysts forecast that Docusign will post 1.76 earnings per share for the current fiscal year.

Docusign declared that its Board of Directors has authorized a stock buyback plan on Tuesday, March 17th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to buy up to 21% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Docusign Company Profile

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.