DocuSign (NASDAQ:DOCU) Stock Rating Reaffirmed by JMP Securities

JMP Securities reissued their market outperform rating on shares of DocuSign (NASDAQ:DOCU – Get Rating) in a research note released on Friday, Benzinga reports. The firm currently has a $84.00 price target on the stock.

Several other equities analysts also recently commented on the company. Citigroup upped their price objective on DocuSign from $72.00 to $82.00 and gave the company a buy rating in a research report on Thursday, March 9th. Wolfe Research raised DocuSign from an underperform rating to a peer perform rating in a research report on Thursday, February 23rd. Robert W. Baird upped their price objective on DocuSign from $50.00 to $70.00 in a research report on Friday. Wells Fargo & Company cut their price objective on DocuSign from $65.00 to $60.00 in a research report on Friday. Finally, UBS Group downgraded DocuSign from a neutral rating to a sell rating and set a $52.00 price objective on the stock. in a research report on Tuesday, February 21st. Three analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $62.93.

DocuSign Stock Performance

NASDAQ:DOCU opened at $53.07 on Friday. The stock’s fifty day moving average is $60.40 and its 200 day moving average is $54.34. DocuSign has a fifty-two week low of $39.57 and a fifty-two week high of $113.67. The firm has a market capitalization of $10.67 billion, a PE ratio of -108.29, a PEG ratio of 42.07 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.

Insider Activity at DocuSign

In related news, Director Daniel D. Springer sold 147,008 shares of the firm’s stock in a transaction dated Thursday, January 19th. The stock was sold at an average price of $55.08, for a total transaction of $8,097,200.64. Following the sale, the director now owns 1,225,714 shares of the company’s stock, valued at $67,512,327.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Daniel D. Springer sold 147,009 shares of the firm’s stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $58.48, for a total transaction of $8,597,086.32. Following the sale, the director now owns 1,524,335 shares of the company’s stock, valued at $89,143,110.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Daniel D. Springer sold 147,008 shares of the stock in a transaction dated 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 sale, the director now owns 1,225,714 shares of the company’s stock, valued at $67,512,327.12. The disclosure for this sale can be found here. 2.55% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On DocuSign

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DOCU. Evermay Wealth Management LLC purchased a new stake in DocuSign in the fourth quarter valued at about $28,000. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in shares of DocuSign by 440.0% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 270 shares of the company’s stock worth $28,000 after purchasing an additional 220 shares during the last quarter. Whittier Trust Co. purchased a new position in shares of DocuSign in the third quarter worth about $30,000. CI Investments Inc. raised its stake in shares of DocuSign by 115.5% in the fourth quarter. CI Investments Inc. now owns 556 shares of the company’s stock worth $31,000 after purchasing an additional 298 shares during the last quarter. Finally, Beacon Capital Management LLC raised its stake in shares of DocuSign by 6,150.0% in the fourth quarter. Beacon Capital Management LLC now owns 625 shares of the company’s stock worth $35,000 after purchasing an additional 615 shares during the last quarter. 76.18% of the stock is currently owned by hedge funds and other institutional investors.

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.