DocuSign (NASDAQ:DOCU) PT Raised to $70.00

DocuSign (NASDAQ:DOCUGet Rating) had its price objective hoisted by equities researchers at Robert W. Baird from $60.00 to $70.00 in a report released on Friday, The Fly reports. Robert W. Baird’s price objective would indicate a potential upside of 9.31% from the company’s previous close.

A number of other research analysts also recently commented on DOCU. Royal Bank of Canada downgraded DocuSign from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $80.00 to $65.00 in a research note on Monday, August 22nd. Bank of America downgraded DocuSign from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $120.00 to $72.00 in a research note on Friday, June 10th. JMP Securities decreased their price target on DocuSign from $151.00 to $84.00 and set a “market outperform” rating for the company in a research note on Friday, September 2nd. Morgan Stanley decreased their price target on DocuSign from $80.00 to $73.00 and set an “equal weight” rating for the company in a research note on Friday, June 10th. Finally, Citigroup decreased their price target on DocuSign from $90.00 to $68.00 and set a “buy” rating for the company in a research note on Thursday. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, DocuSign has a consensus rating of “Hold” and an average price target of $65.50.

DocuSign Stock Performance

Shares of NASDAQ DOCU opened at $64.04 on Friday. The business’s 50-day moving average price is $64.43 and its two-hundred day moving average price is $78.56. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.01 and a quick ratio of 1.01. DocuSign has a one year low of $53.25 and a one year high of $288.50. The company has a market capitalization of $12.80 billion, a P/E ratio of -118.59 and a beta of 1.23.

DocuSign (NASDAQ:DOCUGet Rating) last issued its earnings results on Thursday, September 8th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. DocuSign had a negative return on equity of 23.99% and a negative net margin of 4.65%. The firm had revenue of $622.18 million for the quarter, compared to the consensus estimate of $602.25 million. During the same quarter in the previous year, the company posted ($0.07) earnings per share. The business’s quarterly revenue was up 21.6% compared to the same quarter last year. Analysts anticipate that DocuSign will post -0.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On DocuSign

Large investors have recently added to or reduced their stakes in the company. HM Payson & Co. raised its holdings in DocuSign by 102.8% in the 4th quarter. HM Payson & Co. now owns 217 shares of the company’s stock valued at $33,000 after acquiring an additional 110 shares in the last quarter. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of DocuSign in the 4th quarter worth approximately $39,000. Covestor Ltd acquired a new position in shares of DocuSign in the 4th quarter worth approximately $40,000. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its holdings in shares of DocuSign by 440.0% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 270 shares of the company’s stock worth $28,000 after buying an additional 220 shares in the last quarter. Finally, Clearstead Advisors LLC raised its holdings in shares of DocuSign by 1,300.0% in the 4th quarter. Clearstead Advisors LLC now owns 280 shares of the company’s stock worth $43,000 after buying an additional 260 shares in the last quarter. Institutional investors and hedge funds own 76.18% of the company’s stock.

DocuSign Company Profile

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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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