DocuSign (NASDAQ:DOCU) Shares Gap Up After Earnings Beat

DocuSign, Inc. (NASDAQ:DOCUGet Rating) gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $57.95, but opened at $67.54. DocuSign shares last traded at $63.05, with a volume of 199,582 shares trading hands.

The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.02. DocuSign had a negative net margin of 4.00% and a negative return on equity of 17.17%. The firm had revenue of $622.18 million for the quarter, compared to analyst estimates of $602.25 million. During the same quarter in the prior year, the business earned ($0.07) earnings per share. The business’s quarterly revenue was up 21.6% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

DOCU has been the topic of several research reports. JMP Securities dropped their price objective on shares of DocuSign from $151.00 to $84.00 and set a “market outperform” rating on the stock in a report on Friday, September 2nd. Robert W. Baird upped their price objective on shares of DocuSign from $60.00 to $70.00 in a report on Friday. Bank of America lowered shares of DocuSign from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $120.00 to $72.00 in a report on Friday, June 10th. Wedbush boosted their target price on shares of DocuSign from $50.00 to $55.00 and gave the stock an “underperform” rating in a research report on Friday. Finally, Piper Sandler downgraded shares of DocuSign from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $65.00 to $54.00 in a research report on Wednesday, July 20th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, DocuSign currently has a consensus rating of “Hold” and an average price target of $65.50.

Institutional Investors Weigh In On DocuSign

A number of institutional investors have recently added to or reduced their stakes in the company. B. Riley Wealth Management Inc. grew its position in DocuSign by 28.9% in the 2nd quarter. B. Riley Wealth Management Inc. now owns 8,822 shares of the company’s stock worth $506,000 after purchasing an additional 1,978 shares in the last quarter. Royal London Asset Management Ltd. grew its position in DocuSign by 0.6% in the 2nd quarter. Royal London Asset Management Ltd. now owns 69,887 shares of the company’s stock worth $4,012,000 after purchasing an additional 451 shares in the last quarter. Captrust Financial Advisors grew its position in DocuSign by 20.8% in the 2nd quarter. Captrust Financial Advisors now owns 12,265 shares of the company’s stock worth $704,000 after purchasing an additional 2,113 shares in the last quarter. Legal & General Group Plc grew its position in DocuSign by 3.7% in the 2nd quarter. Legal & General Group Plc now owns 1,217,099 shares of the company’s stock worth $69,837,000 after purchasing an additional 43,217 shares in the last quarter. Finally, ExodusPoint Capital Management LP purchased a new position in DocuSign in the second quarter valued at about $3,560,000. 76.18% of the stock is owned by institutional investors.

DocuSign Trading Up 10.5 %

The company has a debt-to-equity ratio of 2.06, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $12.80 billion, a PE ratio of -142.31 and a beta of 1.23. The stock’s 50 day simple moving average is $64.43 and its two-hundred day simple moving average is $78.76.

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.

Featured Articles

Receive News & Ratings for DocuSign Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DocuSign and related companies with MarketBeat.com's FREE daily email newsletter.