Wells Fargo & Company Issues Positive Forecast for DocuSign (NASDAQ:DOCU) Stock Price

DocuSign (NASDAQ:DOCU) had its target price boosted by Wells Fargo & Company from $70.00 to $73.00 in a research report report published on Friday morning,Benzinga reports. They currently have an underweight rating on the stock.

DOCU has been the topic of a number of other reports. Bank of America cut their price target on DocuSign from $112.00 to $98.00 and set a “neutral” rating on the stock in a research note on Friday. UBS Group lifted their price target on DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. JMP Securities reissued a “market outperform” rating and set a $124.00 price target on shares of DocuSign in a research note on Tuesday, January 7th. Citigroup reissued a “buy” rating on shares of DocuSign in a research note on Thursday, March 6th. Finally, Jefferies Financial Group lifted their price target on DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $95.58.

DocuSign Stock Up 14.8 %

DocuSign stock opened at $85.76 on Friday. DocuSign has a 12-month low of $48.70 and a 12-month high of $107.86. The business’s 50-day moving average price is $87.97 and its two-hundred day moving average price is $79.22. The stock has a market cap of $17.33 billion, a PE ratio of 17.68, a P/E/G ratio of 6.94 and a beta of 1.02.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The firm had revenue of $776.25 million for the quarter, compared to analysts’ expectations of $760.94 million. During the same quarter in the previous year, the business posted $0.76 earnings per share. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, analysts expect that DocuSign will post 1.17 earnings per share for the current year.

Insider Transactions at DocuSign

In other news, insider Robert Chatwani sold 14,800 shares of DocuSign stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $97.76, for a total value of $1,446,848.00. Following the completion of the transaction, the insider now directly owns 73,414 shares of the company’s stock, valued at approximately $7,176,952.64. This trade represents a 16.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $94.60, for a total value of $50,516.40. Following the completion of the sale, the director now owns 7,736 shares of the company’s stock, valued at approximately $731,825.60. This represents a 6.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,422 shares of company stock valued at $9,665,394. Corporate insiders own 1.66% of the company’s stock.

Institutional Trading of DocuSign

Large investors have recently made changes to their positions in the company. Itau Unibanco Holding S.A. bought a new stake in DocuSign during the third quarter worth $28,000. Kestra Investment Management LLC purchased a new position in DocuSign during the 4th quarter worth $30,000. Brooklyn Investment Group purchased a new position in DocuSign during the 3rd quarter worth $33,000. Modus Advisors LLC bought a new stake in shares of DocuSign in the 4th quarter worth $36,000. Finally, First Horizon Advisors Inc. raised its holdings in shares of DocuSign by 102.6% in the fourth 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 last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

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.