DocuSign (NASDAQ:DOCU) Stock Price Up 14.1%

DocuSign, Inc. (NASDAQ:DOCUGet Rating)’s stock price rose 14.1% during trading on Friday . The company traded as high as $51.96 and last traded at $51.93. Approximately 233,865 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 4,456,048 shares. The stock had previously closed at $45.50.

Wall Street Analysts Forecast Growth

DOCU has been the subject of a number of research reports. Royal Bank of Canada decreased their price target on DocuSign from $65.00 to $55.00 in a research note on Thursday, September 29th. Robert W. Baird lifted their price target on DocuSign from $60.00 to $70.00 in a research note on Friday, September 9th. UBS Group decreased their price target on DocuSign from $70.00 to $65.00 and set a “neutral” rating for the company in a research note on Tuesday, August 30th. JPMorgan Chase & Co. upgraded DocuSign from an “underweight” rating to a “neutral” rating and set a $65.00 price target for the company in a research note on Friday, September 9th. Finally, 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. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $62.38.

DocuSign Stock Performance

The stock has a fifty day moving average price of $50.88 and a two-hundred day moving average price of $63.13. The company has a market cap of $10.64 billion, a P/E ratio of -98.15 and a beta of 1.12. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.01 and a quick ratio of 1.01.

DocuSign (NASDAQ:DOCUGet Rating) last released its quarterly earnings results on Thursday, September 8th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.09). The business had revenue of $622.18 million for the quarter, compared to the consensus estimate of $602.25 million. DocuSign had a negative net margin of 4.65% and a negative return on equity of 21.74%. The business’s quarterly revenue was up 21.6% on a year-over-year basis. During the same period last year, the firm posted ($0.07) EPS. On average, equities analysts forecast that DocuSign, Inc. will post -0.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On DocuSign

A number of hedge funds have recently made changes to their positions in DOCU. Vanguard Group Inc. increased its stake in shares of DocuSign by 20.3% during the first quarter. Vanguard Group Inc. now owns 17,308,877 shares of the company’s stock valued at $1,854,127,000 after acquiring an additional 2,917,683 shares during the period. Polen Capital Management LLC increased its stake in shares of DocuSign by 0.4% during the third quarter. Polen Capital Management LLC now owns 8,647,060 shares of the company’s stock valued at $462,358,000 after acquiring an additional 33,901 shares during the period. Capital World Investors increased its stake in shares of DocuSign by 128.3% during the first quarter. Capital World Investors now owns 5,683,838 shares of the company’s stock valued at $608,853,000 after acquiring an additional 3,193,727 shares during the period. Fisher Asset Management LLC increased its stake in shares of DocuSign by 5.6% during the third quarter. Fisher Asset Management LLC now owns 5,509,930 shares of the company’s stock valued at $294,616,000 after acquiring an additional 292,167 shares during the period. Finally, Clearbridge Investments LLC increased its stake in shares of DocuSign by 1.9% during the first quarter. Clearbridge Investments LLC now owns 3,186,783 shares of the company’s stock valued at $341,368,000 after acquiring an additional 58,555 shares during the period. Institutional investors own 76.18% of the company’s stock.

About DocuSign

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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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