DocuSign (NASDAQ:DOCU) Given New $115.00 Price Target at Citigroup

DocuSign (NASDAQ:DOCU) had its price target boosted by Citigroup from $113.00 to $115.00 in a research report report published on Friday,Benzinga reports. They currently have a buy rating on the stock.

DOCU has been the topic of a number of other reports. 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 research report on Monday, March 10th. Hsbc Global Res upgraded DocuSign to a “moderate sell” rating in a research report on Friday, December 6th. Wells Fargo & Company upped their price objective on DocuSign from $70.00 to $73.00 and gave the company an “underweight” rating in a research report on Friday. Piper Sandler upped their price objective on DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Finally, Wedbush restated a “neutral” rating and issued a $100.00 price objective on shares of DocuSign in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, DocuSign has an average rating of “Hold” and a consensus target price of $95.58.

DocuSign Stock Performance

DOCU opened at $85.76 on Friday. The business’s fifty day moving average is $87.97 and its two-hundred day moving average is $79.22. The company has a market cap of $17.33 billion, a price-to-earnings ratio of 17.68, a PEG ratio of 6.94 and a beta of 1.02. DocuSign has a one year low of $48.70 and a one year high of $107.86.

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

Insiders Place Their Bets

In other news, insider Robert Chatwani sold 14,800 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $97.76, for a total transaction of $1,446,848.00. Following the sale, the insider now directly owns 73,414 shares in the company, valued at approximately $7,176,952.64. This represents a 16.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Blake Jeffrey Grayson sold 15,588 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $97.78, for a total value of $1,524,194.64. Following the sale, the chief financial officer now owns 85,851 shares in the company, valued at $8,394,510.78. The trade was a 15.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 104,422 shares of company stock valued at $9,665,394 in the last quarter. Insiders own 1.66% of the company’s stock.

Institutional Trading of DocuSign

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Citizens Financial Group Inc. RI raised its position in shares of DocuSign by 2.3% during the 4th quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company’s stock worth $539,000 after purchasing an additional 133 shares during the period. Rakuten Securities Inc. increased its position in DocuSign by 20.9% in the 4th quarter. Rakuten Securities Inc. now owns 797 shares of the company’s stock valued at $72,000 after acquiring an additional 138 shares during the period. Synergy Financial Group LTD increased its position in DocuSign by 3.4% in the 4th quarter. Synergy Financial Group LTD now owns 4,241 shares of the company’s stock valued at $381,000 after acquiring an additional 140 shares during the period. M&T Bank Corp increased its position in DocuSign by 1.3% in the 4th quarter. M&T Bank Corp now owns 10,840 shares of the company’s stock valued at $975,000 after acquiring an additional 143 shares during the period. Finally, TD Waterhouse Canada Inc. increased its position in DocuSign by 34.5% in the 4th quarter. TD Waterhouse Canada Inc. now owns 557 shares of the company’s stock valued at $50,000 after acquiring an additional 143 shares during the period. 77.64% of the stock is currently owned by institutional investors and hedge funds.

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.