DocuSign (NASDAQ:DOCU) PT Lowered to $60.00

DocuSign (NASDAQ:DOCU – Get Rating) had its price objective reduced by research analysts at Piper Sandler from $65.00 to $60.00 in a research report issued on Friday, The Fly reports. Piper Sandler’s price target suggests a potential upside of 20.75% from the stock’s current price.

A number of other equities research analysts have also recently commented on DOCU. Robert W. Baird increased their target price on shares of DocuSign from $50.00 to $70.00 in a research report on Friday. Wells Fargo & Company reduced their target price on shares of DocuSign from $65.00 to $60.00 in a research report on Friday. UBS Group cut shares of DocuSign from a “neutral” rating to a “sell” rating and set a $52.00 target price for the company. in a research report on Tuesday, February 21st. Wolfe Research upgraded shares of DocuSign from an “underperform” rating to a “peer perform” rating in a research report on Thursday, February 23rd. Finally, Citigroup raised their price objective on shares of DocuSign from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, DocuSign currently has an average rating of “Hold” and a consensus price target of $62.57.

DocuSign Stock Performance

NASDAQ:DOCU opened at $49.69 on Friday. The company has a fifty day moving average of $60.44 and a two-hundred day moving average of $54.45. The stock has a market capitalization of $9.99 billion, a PE ratio of -101.41, a P/E/G ratio of 129.74 and a beta of 1.00. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.02 and a current ratio of 1.02. DocuSign has a fifty-two week low of $39.57 and a fifty-two week high of $113.67.

DocuSign (NASDAQ:DOCU – Get Rating) last issued its earnings results on Thursday, December 8th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.13. The business had revenue of $645.46 million during the quarter, compared to analysts’ expectations of $626.07 million. DocuSign had a negative net margin of 3.87% and a negative return on equity of 8.07%. As a group, research analysts forecast that DocuSign will post 0.04 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Daniel D. Springer sold 147,008 shares of the firm’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 completion of the transaction, the director now owns 1,225,714 shares of the company’s stock, valued at $67,512,327.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Daniel D. Springer sold 147,008 shares of the firm’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 completion of the transaction, the director now owns 1,225,714 shares of the company’s stock, valued at $67,512,327.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Daniel D. Springer sold 147,009 shares of the firm’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 transaction, the director now directly owns 1,524,335 shares of the company’s stock, valued at approximately $89,143,110.80. The disclosure for this sale can be found here. Insiders own 2.55% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. MAI Capital Management lifted its stake in DocuSign by 1.0% in the fourth quarter. MAI Capital Management now owns 16,417 shares of the company’s stock worth $910,000 after acquiring an additional 157 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its stake in DocuSign by 1.9% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 8,965 shares of the company’s stock worth $514,000 after acquiring an additional 164 shares during the last quarter. Integrated Wealth Concepts LLC lifted its stake in DocuSign by 3.8% in the fourth quarter. Integrated Wealth Concepts LLC now owns 5,009 shares of the company’s stock worth $278,000 after acquiring an additional 182 shares during the last quarter. Acorn Financial Advisory Services Inc. ADV lifted its stake in DocuSign by 1.5% in the fourth quarter. Acorn Financial Advisory Services Inc. ADV now owns 13,233 shares of the company’s stock worth $733,000 after acquiring an additional 196 shares during the last quarter. Finally, FineMark National Bank & Trust lifted its stake in DocuSign by 4.8% in the third quarter. FineMark National Bank & Trust now owns 4,330 shares of the company’s stock worth $231,000 after acquiring an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 76.18% of the company’s stock.

About DocuSign

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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.