DocuSign (NASDAQ:DOCU) Given New $90.00 Price Target at UBS Group

DocuSign (NASDAQ:DOCU) had its price objective decreased by research analysts at UBS Group from $100.00 to $90.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s target price indicates a potential upside of 3.83% from the company’s previous close.

DOCU has been the subject of several other reports. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research note on Friday. JPMorgan Chase & Co. raised DocuSign from an “underweight” rating to a “neutral” rating and increased their price target for the company from $70.00 to $75.00 in a research report on Monday. Wells Fargo & Company increased their price target on DocuSign from $70.00 to $73.00 and gave the company an “underweight” rating in a research report on Friday. Piper Sandler increased their price objective on DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Finally, Hsbc Global Res raised DocuSign to a “moderate sell” rating in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $95.42.

DocuSign Stock Up 16.0 %

NASDAQ:DOCU traded up $11.98 on Friday, hitting $86.68. The stock had a trading volume of 4,122,687 shares, compared to its average volume of 2,210,246. The business’s fifty day moving average is $88.06 and its 200 day moving average is $79.04. The company has a market cap of $17.51 billion, a PE ratio of 17.75, a P/E/G ratio of 6.94 and a beta of 1.02. DocuSign has a 52 week low of $48.70 and a 52 week high of $107.86.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.02. The business had revenue of $776.25 million for the quarter, compared to analyst estimates of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The company’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.76 earnings per share. Equities analysts predict that DocuSign will post 1.17 earnings per share for the current fiscal year.

Insider Activity at DocuSign

In other DocuSign news, Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $94.60, for a total transaction of $50,516.40. Following the sale, the director now owns 7,736 shares in the company, valued at $731,825.60. This trade represents a 6.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Allan C. Thygesen sold 40,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total value of $3,601,600.00. Following the sale, the chief executive officer now owns 156,050 shares in the company, valued at $14,050,742. The trade was a 20.40 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 104,422 shares of company stock valued at $9,665,394. Company insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Itau Unibanco Holding S.A. purchased a new position in shares of DocuSign in the third quarter worth about $28,000. Kestra Investment Management LLC purchased a new position in DocuSign during the 4th quarter valued at about $30,000. Brooklyn Investment Group purchased a new position in DocuSign during the 3rd quarter valued at about $33,000. Modus Advisors LLC purchased a new position in DocuSign during the 4th quarter valued at about $36,000. Finally, First Horizon Advisors Inc. increased its holdings in DocuSign by 102.6% during the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock valued at $36,000 after purchasing an additional 201 shares during the period. Hedge funds and other 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.