DocuSign’s (DOCU) Hold Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of DocuSign (NASDAQ:DOCU) in a research note published on Friday, Benzinga reports.

DOCU has been the subject of several other research reports. Morgan Stanley reduced their target price on shares of DocuSign from $65.00 to $62.00 and set an equal weight rating for the company in a report on Friday, June 7th. Citigroup reduced their price target on DocuSign from $93.00 to $86.00 and set a buy rating for the company in a research report on Wednesday, June 5th. Robert W. Baird raised their price target on DocuSign from $55.00 to $59.00 and gave the company a neutral rating in a research note on Friday. JMP Securities reissued a market outperform rating and issued a $84.00 price objective on shares of DocuSign in a report on Thursday. Finally, Royal Bank of Canada lowered their target price on shares of DocuSign from $59.00 to $52.00 and set a sector perform rating on the stock in a report on Friday, June 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $61.45.

DocuSign Price Performance

DOCU opened at $59.19 on Friday. The company has a market capitalization of $12.12 billion, a price-to-earnings ratio of 113.83, a P/E/G ratio of 9.74 and a beta of 0.93. The business’s 50-day moving average price is $55.44 and its two-hundred day moving average price is $55.86. DocuSign has a 1 year low of $38.11 and a 1 year high of $64.76.

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

Insiders Place Their Bets

In other news, insider Robert Chatwani sold 14,799 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $52.17, for a total value of $772,063.83. Following the transaction, the insider now directly owns 68,083 shares of the company’s stock, valued at $3,551,890.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Robert Chatwani sold 14,799 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $52.17, for a total value of $772,063.83. Following the transaction, the insider now owns 68,083 shares of the company’s stock, valued at $3,551,890.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Allan C. Thygesen sold 7,725 shares of the 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 in the company, valued at approximately $6,038,584.37. The disclosure for this sale can be found here. Insiders sold a total of 482,418 shares of company stock valued at $25,524,100 over the last ninety days. 1.66% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DocuSign

Institutional investors have recently modified their holdings of the business. Gilbert & Cook Inc. raised its position in shares of DocuSign by 7.7% in the fourth quarter. Gilbert & Cook Inc. now owns 8,497 shares of the company’s stock valued at $505,000 after buying an additional 604 shares in the last quarter. Victory Capital Management Inc. increased its stake in DocuSign by 532.5% during the 4th quarter. Victory Capital Management Inc. now owns 139,255 shares of the company’s stock worth $8,279,000 after acquiring an additional 117,238 shares during the period. Amalgamated Bank raised its holdings in DocuSign by 7.9% in the 4th quarter. Amalgamated Bank now owns 23,232 shares of the company’s stock valued at $1,381,000 after acquiring an additional 1,696 shares in the last quarter. Metis Global Partners LLC bought a new stake in shares of DocuSign during the 4th quarter valued at $208,000. Finally, Private Advisor Group LLC grew its holdings in shares of DocuSign by 64.3% during the 4th quarter. Private Advisor Group LLC now owns 26,122 shares of the company’s stock worth $1,553,000 after purchasing an additional 10,225 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.