DocuSign (NASDAQ:DOCU) Price Target Raised to $73.00 at Wells Fargo & Company

DocuSign (NASDAQ:DOCU) had its target price upped 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.

A number of other equities research analysts have also recently issued reports on the company. UBS Group upped their price objective on DocuSign from $60.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Jefferies Financial Group upped their price objective on DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Hsbc Global Res upgraded DocuSign to a “moderate sell” rating in a research note on Friday, December 6th. Piper Sandler increased their price target on DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a report on Friday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $95.58.

DocuSign Stock Performance

NASDAQ DOCU opened at $85.76 on Friday. The stock has a market capitalization of $17.33 billion, a price-to-earnings ratio of 17.68, a PEG ratio of 6.94 and a beta of 1.02. The stock’s 50 day moving average price is $87.97 and its two-hundred day moving average price is $79.22. 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 data on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, topping 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 company had revenue of $776.25 million for the quarter, compared to analysts’ expectations of $760.94 million. During the same quarter in the prior year, the business posted $0.76 EPS. The business’s revenue was up 9.0% compared to the same quarter last year. On average, equities research analysts forecast that DocuSign will post 1.17 EPS for the current year.

Insiders Place Their Bets

In other DocuSign news, CEO Allan C. Thygesen sold 40,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the transaction, the chief executive officer now owns 156,050 shares in the company, valued at $14,050,742. This trade represents a 20.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert Chatwani sold 14,800 shares of the stock in a transaction on 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 transaction, the insider now owns 73,414 shares in the company, valued at $7,176,952.64. The trade was a 16.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 104,422 shares of company stock worth $9,665,394 in the last 90 days. Company insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Wood Tarver Financial Group LLC bought a new position in shares of DocuSign in the fourth quarter worth $37,000. Audent Global Asset Management LLC increased its position in shares of DocuSign by 382.6% in the fourth quarter. Audent Global Asset Management LLC now owns 27,425 shares of the company’s stock worth $2,467,000 after purchasing an additional 21,742 shares during the period. Siemens Fonds Invest GmbH bought a new position in shares of DocuSign in the fourth quarter worth $772,000. Fluent Financial LLC bought a new position in shares of DocuSign in the fourth quarter worth $694,000. Finally, Total Wealth Planning & Management Inc. bought a new position in shares of DocuSign in the fourth quarter worth $312,000. 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.