DocuSign (DOCU) to Release Quarterly Earnings on Thursday

DocuSign (NASDAQ:DOCU – Get Rating) is set to release its earnings data after the market closes on Thursday, March 9th. Analysts expect DocuSign to post earnings of $0.53 per share for the quarter. DocuSign has set its Q4 2023 guidance at EPS and its FY 2023 guidance at EPS.Persons interested in participating in the company’s earnings conference call can do so using this link.

DocuSign (NASDAQ:DOCU – Get Rating) last announced its earnings results on Thursday, December 8th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.13. DocuSign had a negative net margin of 5.45% and a negative return on equity of 18.86%. The business had revenue of $645.46 million for the quarter, compared to analyst estimates of $626.07 million. On average, analysts expect DocuSign to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

DocuSign Stock Down 3.8 %

Shares of NASDAQ DOCU opened at $58.99 on Thursday. The company’s 50-day simple moving average is $59.31 and its 200-day simple moving average is $54.75. DocuSign has a 52-week low of $39.57 and a 52-week high of $118.15. The firm has a market cap of $11.86 billion, a price-to-earnings ratio of -89.38, a price-to-earnings-growth ratio of 872.73 and a beta of 1.01. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.46.

Insider Buying and Selling at DocuSign

In other DocuSign news, Director Daniel D. Springer sold 147,009 shares of the business’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $58.48, for a total value of $8,597,086.32. Following the transaction, the director now directly owns 1,524,335 shares in the company, valued at approximately $89,143,110.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Daniel D. Springer sold 147,008 shares of the business’s stock in a transaction that occurred on Thursday, January 19th. The shares were sold at an average price of $55.08, for a total value of $8,097,200.64. Following the sale, the director now directly owns 1,225,714 shares of the company’s stock, valued at approximately $67,512,327.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel D. Springer sold 147,009 shares of the business’s stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $58.48, for a total transaction of $8,597,086.32. Following the completion of the sale, the director now directly owns 1,524,335 shares in the company, valued at $89,143,110.80. The disclosure for this sale can be found here. 2.55% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DocuSign

Institutional investors and hedge funds have recently made changes to their positions in the stock. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake 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 valued at $28,000 after acquiring an additional 220 shares during the period. Brown Brothers Harriman & Co. increased its stake in DocuSign by 381.9% during the 1st quarter. Brown Brothers Harriman & Co. now owns 559 shares of the company’s stock worth $60,000 after buying an additional 443 shares during the period. Money Concepts Capital Corp increased its stake in DocuSign by 849.3% during the 4th quarter. Money Concepts Capital Corp now owns 2,098 shares of the company’s stock worth $116,000 after buying an additional 1,877 shares during the period. First Manhattan Co. increased its stake in DocuSign by 309.5% during the 1st quarter. First Manhattan Co. now owns 2,150 shares of the company’s stock worth $230,000 after buying an additional 1,625 shares during the period. Finally, Parkwood LLC increased its stake in DocuSign by 20.1% during the 1st quarter. Parkwood LLC now owns 2,196 shares of the company’s stock worth $235,000 after buying an additional 367 shares during the period. 76.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on DOCU. Jefferies Financial Group upgraded shares of DocuSign from a “hold” rating to a “buy” rating and lifted their target price for the company from $50.00 to $70.00 in a research report on Thursday, January 5th. Wolfe Research upgraded shares of DocuSign from an “underperform” rating to a “peer perform” rating in a research report on Thursday, February 23rd. Robert W. Baird lowered their price target on shares of DocuSign from $70.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, December 5th. TheStreet lowered shares of DocuSign from a “c-” rating to a “d+” rating in a research report on Wednesday, November 9th. Finally, Bank of America lowered their price target on shares of DocuSign from $80.00 to $65.00 in a research report on Friday, December 9th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $59.71.

DocuSign Company Profile

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DocuSign, Inc provides cloud-based electronic signature solutions. Its cloud based electronic signature platform helps companies and individuals securely collect information, automate data workflows and sign anything. The firm automates manual, paper-based processes allowing users to manage all aspects of documented business transactions including identity management, authentication, digital signature, forms and data collection, collaboration, workflow automation and storage.