M&T Bank Corp raised its stake in shares of DocuSign, Inc. (NASDAQ:DOCU – Get Rating) by 10.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,621 shares of the company’s stock after buying an additional 1,014 shares during the period. M&T Bank Corp’s holdings in DocuSign were worth $598,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Truist Financial Corp lifted its stake in shares of DocuSign by 6.0% in the 1st quarter. Truist Financial Corp now owns 25,563 shares of the company’s stock valued at $2,738,000 after purchasing an additional 1,440 shares during the last quarter. New York State Teachers Retirement System acquired a new stake in shares of DocuSign in the 1st quarter valued at $107,000. Hillsdale Investment Management Inc. acquired a new stake in shares of DocuSign in the 1st quarter valued at $602,000. Financial Counselors Inc. lifted its stake in shares of DocuSign by 22.6% in the 1st quarter. Financial Counselors Inc. now owns 34,319 shares of the company’s stock valued at $3,676,000 after purchasing an additional 6,327 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its stake in shares of DocuSign by 9.7% in the 1st quarter. Daiwa Securities Group Inc. now owns 28,931 shares of the company’s stock valued at $3,099,000 after purchasing an additional 2,558 shares during the last quarter. Institutional investors and hedge funds own 76.18% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have weighed in on DOCU. JMP Securities cut their target price on shares of DocuSign from $151.00 to $84.00 and set a “market outperform” rating for the company in a research report on Friday, September 2nd. Moffett Nathanson began coverage on shares of DocuSign in a research report on Thursday, September 22nd. They set an “underperform” rating and a $58.00 target price for the company. JPMorgan Chase & Co. raised shares of DocuSign from an “underweight” rating to a “neutral” rating and set a $65.00 target price for the company in a research report on Friday, September 9th. Wells Fargo & Company boosted their target price on shares of DocuSign from $63.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Friday, September 9th. Finally, Piper Sandler lowered shares of DocuSign from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $65.00 to $54.00 in a research report on Wednesday, July 20th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $62.38.
DocuSign Stock Performance
DocuSign (NASDAQ:DOCU – Get Rating) last posted its 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 during 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 revenue was up 21.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.07) EPS. As a group, research analysts forecast that DocuSign, Inc. will post -0.43 earnings per share for the current fiscal year.
DocuSign Company Profile
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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