DocuSign (NASDAQ:DOCU) Given New $90.00 Price Target at UBS Group

DocuSign (NASDAQ:DOCU) had its price objective cut by analysts at UBS Group from $100.00 to $90.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price objective points to a potential upside of 3.83% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Hsbc Global Res raised DocuSign to a “moderate sell” rating in a research report on Friday, December 6th. 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. Bank of America cut their price objective on DocuSign from $112.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday. Citigroup reaffirmed a “buy” rating on shares of DocuSign in a research report on Thursday, March 6th. Finally, JPMorgan Chase & Co. raised DocuSign from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $70.00 to $75.00 in a research report on Monday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $95.42.

DocuSign Stock Performance

DocuSign stock traded up $11.98 on Friday, reaching $86.68. The company’s stock had a trading volume of 4,122,687 shares, compared to its average volume of 2,210,246. The company has a market cap of $17.51 billion, a price-to-earnings ratio of 17.75, a PEG ratio of 6.94 and a beta of 1.02. The business’s fifty day moving average price is $88.06 and its 200 day moving average price is $79.04. DocuSign has a twelve month low of $48.70 and a twelve month high of $107.86.

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 firm had revenue of $776.25 million for the quarter, compared to analyst estimates of $760.94 million. During the same quarter in the prior year, the firm posted $0.76 earnings per share. The company’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, equities analysts forecast that DocuSign will post 1.17 earnings per share for the current year.

Insider Activity

In other DocuSign 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 completion of the transaction, the chief executive officer now owns 156,050 shares of the company’s stock, valued at $14,050,742. This represents a 20.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Teresa Briggs sold 534 shares of the company’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 completion of the transaction, the director now directly owns 7,736 shares of the company’s stock, valued at approximately $731,825.60. The trade was a 6.46 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 104,422 shares of company stock worth $9,665,394. Insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On DocuSign

Institutional investors and hedge funds have recently bought and sold shares of the company. Toronto Dominion Bank increased its holdings in DocuSign by 30.3% in the 3rd quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock worth $1,624,000 after purchasing an additional 6,081 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in DocuSign by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock worth $82,478,000 after purchasing an additional 16,014 shares in the last quarter. Quantinno Capital Management LP increased its holdings in DocuSign by 39.5% in the 3rd quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock worth $12,514,000 after purchasing an additional 57,104 shares in the last quarter. Rhumbline Advisers increased its holdings in DocuSign by 118.8% in the 4th quarter. Rhumbline Advisers now owns 608,123 shares of the company’s stock worth $54,695,000 after purchasing an additional 330,136 shares in the last quarter. Finally, KBC Group NV grew its position in shares of DocuSign by 32.7% in the 4th quarter. KBC Group NV now owns 1,535,107 shares of the company’s stock valued at $138,067,000 after buying an additional 378,233 shares during the last quarter. Institutional investors and hedge funds 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.