DocuSign (NASDAQ:DOCU) Reaches New 52-Week High – Should You Buy?

DocuSign, Inc. (NASDAQ:DOCU)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $69.90 and last traded at $69.51, with a volume of 272859 shares changing hands. The stock had previously closed at $68.89.

Analysts Set New Price Targets

DOCU has been the subject of a number of recent analyst reports. Bank of America boosted their target price on 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 boosted their price objective on shares of DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, September 6th. JMP Securities restated a “market outperform” rating and issued a $84.00 target price on shares of DocuSign in a report on Thursday, September 5th. Robert W. Baird boosted their target price on shares of DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Finally, Citigroup raised their price target on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $63.40.

DocuSign Price Performance

The company has a 50-day moving average of $59.07 and a two-hundred day moving average of $56.96. The company has a market capitalization of $14.34 billion, a PE ratio of 134.69, a P/E/G ratio of 7.33 and a beta of 0.92.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, beating 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 firm had revenue of $736.03 million for the quarter, compared to analysts’ expectations of $727.20 million. During the same period in the previous year, the firm earned $0.09 EPS. The business’s quarterly revenue was up 7.0% on a year-over-year basis. As a group, research analysts anticipate that DocuSign, Inc. will post 1.01 EPS for the current year.

Insider Activity at DocuSign

In other DocuSign news, insider James P. Shaughnessy sold 7,500 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $67.83, for a total value of $508,725.00. Following the completion of the sale, the insider now owns 43,301 shares in the company, valued at approximately $2,937,106.83. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider James P. Shaughnessy sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $67.83, for a total value of $508,725.00. Following the transaction, the insider now directly owns 43,301 shares of the company’s stock, valued at approximately $2,937,106.83. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel D. Springer sold 287,052 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $53.78, for a total transaction of $15,437,656.56. Following the sale, the director now directly owns 923,445 shares of the company’s stock, valued at approximately $49,662,872.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 418,002 shares of company stock worth $22,471,973. 1.66% of the stock is owned by corporate insiders.

Institutional Trading of DocuSign

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Jericho Capital Asset Management L.P. grew its position in shares of DocuSign by 316.6% during the first quarter. Jericho Capital Asset Management L.P. now owns 3,417,908 shares of the company’s stock valued at $203,536,000 after purchasing an additional 2,597,489 shares in the last quarter. Thrivent Financial for Lutherans bought a new position in DocuSign during the second quarter valued at approximately $115,795,000. Pacer Advisors Inc. grew its holdings in DocuSign by 77.9% during the 2nd quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock valued at $188,318,000 after buying an additional 1,541,816 shares in the last quarter. Renaissance Technologies LLC grew its holdings in DocuSign by 18.3% during the 2nd quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock valued at $199,518,000 after buying an additional 576,414 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in DocuSign by 151.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 865,872 shares of the company’s stock worth $46,324,000 after acquiring an additional 521,292 shares during the last quarter. 77.64% of the stock is currently owned by 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.