Zacks: Brokerages Anticipate DocuSign, Inc. (NASDAQ:DOCU) Will Announce Quarterly Sales of $581.05 Million

Equities analysts forecast that DocuSign, Inc. (NASDAQ:DOCU – Get Rating) will announce sales of $581.05 million for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for DocuSign’s earnings, with estimates ranging from $580.61 million to $582.00 million. DocuSign posted sales of $469.08 million during the same quarter last year, which would suggest a positive year over year growth rate of 23.9%. The firm is scheduled to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that DocuSign will report full-year sales of $2.48 billion for the current fiscal year, with estimates ranging from $2.47 billion to $2.48 billion. For the next financial year, analysts anticipate that the business will report sales of $2.94 billion, with estimates ranging from $2.82 billion to $3.03 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that that provide coverage for DocuSign.

DocuSign (NASDAQ:DOCU – Get Rating) last announced its quarterly earnings data on Thursday, March 10th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.10). The firm had revenue of $580.83 million during the quarter, compared to the consensus estimate of $561.60 million. DocuSign had a negative net margin of 3.32% and a negative return on equity of 12.39%. The company’s revenue was up 34.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.08) earnings per share.

A number of equities analysts recently commented on DOCU shares. Piper Sandler decreased their target price on DocuSign from $175.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, March 11th. Zacks Investment Research downgraded DocuSign from a “buy” rating to a “hold” rating and set a $128.00 price objective on the stock. in a research note on Tuesday, February 15th. Citigroup decreased their target price on DocuSign from $137.00 to $114.00 and set a “buy” rating on the stock in a research note on Friday, March 11th. Wedbush cut their target price on DocuSign from $200.00 to $80.00 and set a “neutral” rating on the stock in a research report on Friday, March 11th. Finally, Royal Bank of Canada boosted their target price on DocuSign from $95.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, April 6th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $175.29.

Shares of NASDAQ DOCU opened at $86.33 on Friday. The firm has a market capitalization of $17.08 billion, a price-to-earnings ratio of -246.66 and a beta of 0.90. The business has a 50-day moving average of $101.79 and a 200-day moving average of $161.00. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 2.61. DocuSign has a 12 month low of $71.00 and a 12 month high of $314.76.

In other news, COO Scott V. Olrich sold 3,948 shares of the business’s stock in a transaction dated Tuesday, April 5th. The stock was sold at an average price of $110.09, for a total value of $434,635.32. Following the completion of the sale, the chief operating officer now directly owns 230,663 shares of the company’s stock, valued at approximately $25,393,689.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Daniel D. Springer purchased 66,882 shares of the company’s stock in a transaction that occurred on Tuesday, March 15th. The stock was bought at an average price of $74.76 per share, for a total transaction of $5,000,098.32. The disclosure for this purchase can be found here. Insiders have sold a total of 28,948 shares of company stock valued at $3,317,010 over the last ninety days. 3.87% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wagner Wealth Management LLC acquired a new position in DocuSign during the 3rd quarter worth approximately $27,000. Winch Advisory Services LLC acquired a new position in DocuSign during the 3rd quarter worth approximately $26,000. Liberty Wealth Management LLC grew its holdings in shares of DocuSign by 257.9% in the 3rd quarter. Liberty Wealth Management LLC now owns 136 shares of the company’s stock worth $35,000 after acquiring an additional 98 shares during the period. Retirement Planning Co of New England Inc. acquired a new stake in shares of DocuSign in the 4th quarter worth approximately $30,000. Finally, Herold Advisors Inc. acquired a new stake in shares of DocuSign in the 3rd quarter worth approximately $51,000. Institutional investors own 77.09% of the company’s stock.

DocuSign Company Profile (Get Rating)

DocuSign, Inc provides electronic signature software in the United States and internationally. The company provides e-signature solution that enables businesses to digitally prepare, sign, act on, and manage agreements. It also offers CLM, which automates workflows across the entire agreement process; Insights that use artificial intelligence (AI) to search and analyze agreements by legal concepts and clauses; Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce; Negotiate for Salesforce that supports for approvals, document comparisons, and version control; Analyzer, which helps customers understand what they're signing before they sign it; and CLM+ that provide AI-driven contract lifecycle management.

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