Brokerages Set DocuSign, Inc. (NASDAQ:DOCU) Target Price at $59.36

Shares of DocuSign, Inc. (NASDAQ:DOCU) have been given an average rating of “Hold” by the twelve ratings firms that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $59.36.

A number of brokerages have recently commented on DOCU. Piper Sandler dropped their price target on DocuSign from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, June 7th. Royal Bank of Canada cut their target price on DocuSign from $59.00 to $52.00 and set a “sector perform” rating on the stock in a research note on Friday, June 7th. Robert W. Baird lowered their price target on DocuSign from $65.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, June 7th. JMP Securities reissued a “market outperform” rating and set a $84.00 price objective on shares of DocuSign in a research report on Wednesday, July 10th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a report on Friday.

DocuSign Stock Up 0.7 %

NASDAQ DOCU opened at $57.19 on Tuesday. The firm has a market capitalization of $11.71 billion, a PE ratio of 109.98, a P/E/G ratio of 8.34 and a beta of 0.94. The stock’s 50 day moving average is $53.69 and its 200 day moving average is $55.32. DocuSign has a twelve month low of $38.11 and a twelve month high of $64.76.

DocuSign (NASDAQ:DOCU) last announced its earnings results on Thursday, June 6th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.09. The firm had revenue of $709.64 million for the quarter, compared to analysts’ expectations of $706.07 million. DocuSign had a net margin of 3.81% and a return on equity of 15.44%. On average, research analysts anticipate that DocuSign will post 0.88 earnings per share for the current year.

Insider Transactions at DocuSign

In related news, Director Daniel D. Springer sold 70,983 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $49.84, for a total transaction of $3,537,792.72. Following the completion of the sale, the director now owns 891,373 shares in the company, valued at $44,426,030.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Teresa Briggs sold 499 shares of the business’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $54.92, for a total transaction of $27,405.08. Following the completion of the sale, the director now owns 6,668 shares of the company’s stock, valued at approximately $366,206.56. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Daniel D. Springer sold 70,983 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $49.84, for a total value of $3,537,792.72. Following the completion of the transaction, the director now directly owns 891,373 shares in the company, valued at $44,426,030.32. The disclosure for this sale can be found here. Insiders have sold a total of 475,192 shares of company stock worth $25,095,034 in the last ninety days. Insiders own 1.66% of the company’s stock.

Institutional Trading of DocuSign

Several hedge funds have recently bought and sold shares of DOCU. New York State Teachers Retirement System grew its stake in shares of DocuSign by 0.9% during the 4th quarter. New York State Teachers Retirement System now owns 18,282 shares of the company’s stock valued at $1,087,000 after acquiring an additional 163 shares during the period. Cerity Partners LLC raised its position in shares of DocuSign by 12.8% during the 4th quarter. Cerity Partners LLC now owns 17,981 shares of the company’s stock valued at $1,069,000 after purchasing an additional 2,043 shares during the period. Tennessee Valley Asset Management Partners purchased a new position in shares of DocuSign during the 4th quarter valued at $83,000. NewEdge Wealth LLC bought a new position in DocuSign in the 4th quarter worth $667,000. Finally, Harel Insurance Investments & Financial Services Ltd. increased its stake in DocuSign by 9,284.4% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 39,039 shares of the company’s stock worth $2,350,000 after buying an additional 38,623 shares in the last quarter. 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.