DocuSign’s (DOCU) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities restated their market outperform rating on shares of DocuSign (NASDAQ:DOCU) in a research note published on Thursday, Benzinga reports. They currently have a $84.00 target price on the stock.

Other equities analysts have also recently issued research reports about the stock. Bank of America cut their target price on shares of DocuSign from $72.00 to $60.00 and set a neutral rating for the company in a research report on Friday, June 7th. Royal Bank of Canada lowered their target price on DocuSign from $59.00 to $52.00 and set a sector perform rating on the stock in a report on Friday, June 7th. Piper Sandler cut their price target on DocuSign from $65.00 to $60.00 and set a neutral rating for the company in a report on Friday, June 7th. Needham & Company LLC reiterated a hold rating on shares of DocuSign in a research report on Friday, August 16th. Finally, Morgan Stanley reduced their target price on shares of DocuSign from $65.00 to $62.00 and set an equal weight rating on the stock in a report on Friday, June 7th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, DocuSign currently has an average rating of Hold and an average target price of $61.45.

DocuSign Trading Up 4.0 %

DOCU stock opened at $59.19 on Thursday. The company has a market cap of $12.12 billion, a price-to-earnings ratio of 113.83, a PEG ratio of 9.74 and a beta of 0.93. The firm has a 50 day moving average of $55.44 and a 200-day moving average of $55.90. DocuSign has a 12-month low of $38.11 and a 12-month high of $64.76.

DocuSign (NASDAQ:DOCU) last posted its earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. DocuSign had a return on equity of 15.44% and a net margin of 3.81%. The company had revenue of $736.03 million for the quarter, compared to the consensus estimate of $727.20 million. During the same period in the previous year, the business earned $0.09 earnings per share. DocuSign’s quarterly revenue was up 7.0% compared to the same quarter last year. Sell-side analysts forecast that DocuSign will post 0.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Allan C. Thygesen sold 7,725 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $59.09, for a total transaction of $456,470.25. Following the completion of the sale, the chief executive officer now directly owns 102,193 shares in the company, valued at approximately $6,038,584.37. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Robert Chatwani sold 14,799 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $52.17, for a total transaction of $772,063.83. Following the completion of the sale, the insider now owns 68,083 shares of the company’s stock, valued at approximately $3,551,890.11. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Allan C. Thygesen sold 7,725 shares of DocuSign stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $59.09, for a total transaction of $456,470.25. Following the transaction, the chief executive officer now directly owns 102,193 shares in the company, valued at $6,038,584.37. The disclosure for this sale can be found here. Insiders have sold a total of 482,418 shares of company stock valued at $25,524,100 over the last quarter. Company insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On DocuSign

Several hedge funds and other institutional investors have recently made changes to their positions in DOCU. Metis Global Partners LLC purchased a new position in DocuSign in the fourth quarter valued at about $208,000. Charles Schwab Investment Management Inc. raised its holdings in shares of DocuSign by 3.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,260,296 shares of the company’s stock valued at $74,925,000 after buying an additional 44,646 shares during the period. Comerica Bank boosted its holdings in DocuSign by 228.8% in the 1st quarter. Comerica Bank now owns 28,901 shares of the company’s stock worth $1,721,000 after acquiring an additional 20,110 shares during the period. Vanguard Group Inc. grew its position in DocuSign by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 21,399,739 shares of the company’s stock valued at $1,272,214,000 after acquiring an additional 417,352 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of DocuSign by 119.3% during the fourth quarter. KBC Group NV now owns 739,196 shares of the company’s stock worth $43,945,000 after purchasing an additional 402,084 shares in the last quarter. Institutional investors and hedge funds 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.