DocuSign (NASDAQ:DOCU) Receives “Hold” Rating from Needham & Company LLC

DocuSign (NASDAQ:DOCU)‘s stock had its “hold” rating reiterated by analysts at Needham & Company LLC in a report issued on Friday,Benzinga reports.

DOCU has been the topic of several other reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 price target (up from $57.00) on shares of DocuSign in a research note on Friday, December 6th. Wells Fargo & Company increased their price objective on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a report on Friday, December 6th. JPMorgan Chase & Co. upgraded DocuSign from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $70.00 to $75.00 in a report on Monday. Robert W. Baird increased their price target on DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Finally, Piper Sandler lifted their price objective on DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, DocuSign has a consensus rating of “Hold” and a consensus target price of $92.91.

DocuSign Trading Down 6.8 %

Shares of DocuSign stock opened at $74.70 on Friday. DocuSign has a twelve month low of $48.70 and a twelve month high of $107.86. The firm has a market capitalization of $15.09 billion, a PE ratio of 15.40, a P/E/G ratio of 6.94 and a beta of 1.02. The firm’s 50-day moving average price is $88.06 and its 200 day moving average price is $79.04.

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

Insiders Place Their Bets

In related news, CFO Blake Jeffrey Grayson sold 8,000 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $86.90, for a total value of $695,200.00. Following the sale, the chief financial officer now owns 77,851 shares in the company, valued at approximately $6,765,251.90. The trade was a 9.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 transaction, the chief executive officer now owns 156,050 shares of the company’s stock, valued at $14,050,742. This trade represents a 20.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 104,422 shares of company stock valued at $9,665,394 over the last 90 days. 1.66% of the stock is owned by company insiders.

Institutional Investors Weigh In On DocuSign

Several large investors have recently added to or reduced their stakes in the business. Kestra Investment Management LLC purchased a new stake in shares of DocuSign during the fourth quarter worth $30,000. First Horizon Advisors Inc. raised its stake in 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 buying an additional 201 shares in the last quarter. Modus Advisors LLC purchased a new stake in DocuSign during the 4th quarter worth about $36,000. Wood Tarver Financial Group LLC acquired a new position in shares of DocuSign during the 4th quarter worth about $37,000. Finally, McIlrath & Eck LLC boosted its position in shares of DocuSign by 476.0% during the 4th quarter. McIlrath & Eck LLC now owns 432 shares of the company’s stock worth $39,000 after acquiring an additional 357 shares in the last quarter. 77.64% of the stock is 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.