DocuSign (NASDAQ:DOCU) PT Raised to $68.00 at Bank of America

DocuSign (NASDAQ:DOCU) had its target price boosted by Bank of America from $60.00 to $68.00 in a research report released on Friday morning, Benzinga reports. Bank of America currently has a neutral rating on the stock.

Several other equities analysts also recently weighed in on DOCU. JMP Securities reiterated a market outperform rating and issued a $84.00 price target on shares of DocuSign in a report on Thursday, September 5th. Citigroup dropped their price objective on shares of DocuSign from $93.00 to $86.00 and set a buy rating on the stock in a research note on Wednesday, June 5th. Morgan Stanley decreased their target price on shares of DocuSign from $65.00 to $62.00 and set an equal weight rating for the company in a research note on Friday, June 7th. Needham & Company LLC reiterated a hold rating on shares of DocuSign in a research report on Friday. Finally, Royal Bank of Canada upped their price target on DocuSign from $52.00 to $57.00 and gave the stock a sector perform rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, DocuSign currently has a consensus rating of Hold and an average target price of $61.45.

DocuSign Stock Performance

DocuSign stock opened at $56.04 on Friday. The stock has a market cap of $11.47 billion, a PE ratio of 107.77, a price-to-earnings-growth ratio of 9.73 and a beta of 0.93. The stock has a 50-day moving average of $55.45 and a two-hundred day moving average of $55.99. DocuSign has a one year low of $38.11 and a one year high of $64.76.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. The company had revenue of $736.03 million during the quarter, compared to analysts’ expectations of $727.20 million. DocuSign had a net margin of 34.56% and a return on equity of 19.50%. DocuSign’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the business earned $0.09 EPS. As a group, sell-side analysts predict that DocuSign will post 0.83 EPS for the current fiscal year.

Insider Buying and Selling

In other DocuSign news, CEO Allan C. Thygesen sold 7,725 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $59.09, for a total value of $456,470.25. Following the transaction, the chief executive officer now directly owns 102,193 shares of the company’s stock, valued at approximately $6,038,584.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 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 in the company, valued at approximately $3,551,890.11. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction of $456,470.25. Following the transaction, the chief executive officer now directly owns 102,193 shares of the company’s stock, valued at approximately $6,038,584.37. The disclosure for this sale can be found here. Over the last three months, insiders have sold 480,618 shares of company stock worth $25,432,336. 1.66% of the stock is owned by insiders.

Institutional Trading of DocuSign

A number of institutional investors and hedge funds have recently bought and sold shares of DOCU. Gilbert & Cook Inc. grew its stake in shares of DocuSign by 7.7% in the fourth quarter. Gilbert & Cook Inc. now owns 8,497 shares of the company’s stock worth $505,000 after acquiring an additional 604 shares in the last quarter. Victory Capital Management Inc. raised its position in DocuSign by 532.5% in the 4th quarter. Victory Capital Management Inc. now owns 139,255 shares of the company’s stock valued at $8,279,000 after purchasing an additional 117,238 shares in the last quarter. Amalgamated Bank boosted its stake in shares of 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 buying an additional 1,696 shares during the period. Metis Global Partners LLC acquired a new position in shares of DocuSign during the fourth quarter worth about $208,000. Finally, Private Advisor Group LLC raised its holdings in DocuSign by 64.3% in the fourth quarter. Private Advisor Group LLC now owns 26,122 shares of the company’s stock valued at $1,553,000 after acquiring an additional 10,225 shares in the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

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.