Piper Sandler Increases DocuSign (NASDAQ:DOCU) Price Target to $90.00

DocuSign (NASDAQ:DOCU) had its price target increased by analysts at Piper Sandler from $60.00 to $90.00 in a report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s price objective points to a potential downside of 5.66% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Bank of America increased their price objective on shares of DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Wells Fargo & Company increased their price target on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a report on Friday. Royal Bank of Canada boosted their price objective on DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a research note on Friday, September 6th. Jefferies Financial Group upped their target price on DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. raised their target price on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $80.45.

DocuSign Price Performance

Shares of NASDAQ:DOCU opened at $95.40 on Friday. The business has a 50-day moving average of $73.75 and a two-hundred day moving average of $61.68. The firm has a market capitalization of $19.36 billion, a PE ratio of 20.13, a P/E/G ratio of 8.33 and a beta of 0.92. DocuSign has a 12 month low of $44.34 and a 12 month high of $95.40.

DocuSign (NASDAQ:DOCU) last issued its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The business had revenue of $736.03 million during the quarter, compared to analysts’ expectations of $727.20 million. During the same quarter in the previous year, the business earned $0.09 EPS. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, research analysts anticipate that DocuSign will post 1.03 earnings per share for the current year.

Insider Buying and Selling at DocuSign

In other news, CEO Allan C. Thygesen sold 7,763 shares of DocuSign stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $80.54, for a total value of $625,232.02. Following the completion of the transaction, the chief executive officer now owns 100,062 shares in the company, valued at approximately $8,058,993.48. This trade represents a 7.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert Chatwani sold 14,799 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total value of $820,752.54. Following the sale, the insider now directly owns 70,748 shares in the company, valued at approximately $3,923,684.08. This represents a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,596 shares of company stock worth $4,441,529 in the last ninety days. 1.66% of the stock is owned by insiders.

Institutional Trading of DocuSign

Several institutional investors have recently added to or reduced their stakes in the business. Comerica Bank lifted its position in shares of DocuSign by 228.8% in the 1st quarter. Comerica Bank now owns 28,901 shares of the company’s stock worth $1,721,000 after buying an additional 20,110 shares during the last quarter. Cetera Investment Advisers boosted its stake in DocuSign by 455.7% in the first quarter. Cetera Investment Advisers now owns 45,709 shares of the company’s stock valued at $2,722,000 after acquiring an additional 37,484 shares during the period. Cetera Advisors LLC grew its holdings in shares of DocuSign by 38.0% during the first quarter. Cetera Advisors LLC now owns 12,866 shares of the company’s stock valued at $766,000 after purchasing an additional 3,542 shares during the last quarter. Mather Group LLC. raised its position in shares of DocuSign by 4,338.5% during the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after purchasing an additional 564 shares during the period. Finally, CWM LLC lifted its holdings in shares of DocuSign by 23.6% in the 2nd quarter. CWM LLC now owns 31,082 shares of the company’s stock worth $1,663,000 after purchasing an additional 5,941 shares during the last quarter. Institutional investors 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.