DocuSign (NASDAQ:DOCU) Earns Hold Rating from Needham & Company LLC

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

Other analysts have also issued research reports about the company. Wells Fargo & Company upped their target price on DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a report on Friday, December 6th. JMP Securities reaffirmed a “market outperform” rating and set a $124.00 price objective on shares of DocuSign in a research report on Tuesday, January 7th. Royal Bank of Canada reissued a “sector perform” rating and set a $90.00 price target (up from $57.00) on shares of DocuSign in a research report on Friday, December 6th. Hsbc Global Res upgraded shares of DocuSign to a “moderate sell” rating in a report on Friday, December 6th. Finally, Jefferies Financial Group boosted their price objective on shares of DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $92.91.

DocuSign Stock Down 6.8 %

DOCU opened at $74.70 on Friday. DocuSign has a 52 week low of $48.70 and a 52 week high of $107.86. The company has a market capitalization of $15.09 billion, a P/E ratio of 15.40, a PEG ratio of 6.94 and a beta of 1.02. The stock’s fifty day moving average is $88.06 and its two-hundred day moving average is $79.04.

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

Insider Buying and Selling at DocuSign

In other news, CEO Allan C. Thygesen sold 40,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was 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. This represents a 20.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $50,516.40. Following the sale, the director now directly owns 7,736 shares in the company, valued at approximately $731,825.60. This trade represents a 6.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 104,422 shares of company stock worth $9,665,394. 1.66% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DocuSign

Several hedge funds have recently bought and sold shares of DOCU. Wood Tarver Financial Group LLC purchased a new stake in DocuSign during the fourth quarter worth $37,000. Audent Global Asset Management LLC grew its position in shares of DocuSign by 382.6% during the 4th quarter. Audent Global Asset Management LLC now owns 27,425 shares of the company’s stock valued at $2,467,000 after acquiring an additional 21,742 shares during the period. Siemens Fonds Invest GmbH purchased a new position in shares of DocuSign in the 4th quarter valued at about $772,000. Fluent Financial LLC purchased a new position in shares of DocuSign in the 4th quarter valued at about $694,000. Finally, Total Wealth Planning & Management Inc. acquired a new position in DocuSign in the 4th quarter worth about $312,000. Hedge funds and other 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.