DocuSign (NASDAQ:DOCU) Stock Price Up 3.4% on Analyst Upgrade

DocuSign, Inc. (NASDAQ:DOCU – Get Rating) shares rose 3.4% on Tuesday after Jefferies Financial Group raised their price target on the stock from $70.00 to $80.00. The company traded as high as $66.98 and last traded at $66.30. Approximately 534,579 shares traded hands during trading, a decline of 86% from the average daily volume of 3,845,901 shares. The stock had previously closed at $64.15.

Other research analysts have also recently issued research reports about the stock. Robert W. Baird lowered their target price on shares of DocuSign from $70.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, December 5th. Piper Sandler boosted their price target on shares of DocuSign from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, January 5th. Citigroup boosted their price target on shares of DocuSign from $59.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, December 12th. UBS Group cut shares of DocuSign from a “neutral” rating to a “sell” rating and set a $52.00 price target on the stock. in a research note on Tuesday, February 21st. Finally, Wolfe Research upgraded shares of DocuSign from an “underperform” rating to a “peer perform” rating in a research note on Thursday, February 23rd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, DocuSign presently has a consensus rating of “Hold” and a consensus target price of $60.43.

Insider Activity at DocuSign

In related news, Director Daniel D. Springer sold 147,009 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 1,524,335 shares in the company, valued at approximately $89,143,110.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Daniel D. Springer sold 147,008 shares of the company’s stock in a transaction dated Thursday, January 19th. The shares were sold at an average price of $55.08, for a total transaction of $8,097,200.64. Following the transaction, the director now directly owns 1,225,714 shares in the company, valued at approximately $67,512,327.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel D. Springer sold 147,009 shares of the company’s stock in a transaction dated 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 transaction, the director now 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 insiders.

Hedge Funds Weigh In On DocuSign

A number of hedge funds have recently added to or reduced their stakes in the stock. MetLife Investment Management LLC purchased a new stake in DocuSign during the first quarter valued at approximately $1,337,000. Raymond James Trust N.A. increased its stake in shares of DocuSign by 27.3% in the first quarter. Raymond James Trust N.A. now owns 4,206 shares of the company’s stock worth $450,000 after acquiring an additional 901 shares during the period. Sei Investments Co. increased its stake in shares of DocuSign by 21.8% in the first quarter. Sei Investments Co. now owns 177,214 shares of the company’s stock worth $18,934,000 after acquiring an additional 31,769 shares during the period. National Pension Service grew its position in DocuSign by 25.9% during the first quarter. National Pension Service now owns 347,633 shares of the company’s stock valued at $37,238,000 after buying an additional 71,449 shares during the period. Finally, Vanguard Group Inc. grew its position in 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 buying an additional 2,917,683 shares during the period. 76.18% of the stock is currently owned by institutional investors.

DocuSign Trading Up 1.2 %

The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.46. The company has a market cap of $13.05 billion, a price-to-earnings ratio of -98.36, a price-to-earnings-growth ratio of 950.57 and a beta of 1.00. The company’s 50-day moving average is $60.13 and its 200 day moving average is $54.44.

DocuSign (NASDAQ:DOCU – Get Rating) last posted its quarterly earnings results on Thursday, December 8th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.13. The firm had revenue of $645.46 million for the quarter, compared to the consensus estimate of $626.07 million. DocuSign had a negative net margin of 5.45% and a negative return on equity of 18.86%. Research analysts predict that DocuSign, Inc. will post -0.1 EPS for the current year.

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.