DocuSign (NASDAQ:DOCU) Stock Rating Upgraded by UBS Group

DocuSign (NASDAQ:DOCU) was upgraded by UBS Group from a “sell” rating to a “neutral” rating in a research report issued to clients and investors on Friday, MarketBeat reports. The firm presently has a $62.00 target price on the stock, up from their previous target price of $48.00. UBS Group’s price target indicates a potential upside of 5.26% from the company’s previous close.

Several other research firms also recently weighed in on DOCU. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $50.00 price objective on shares of DocuSign in a research note on Friday, January 12th. Morgan Stanley upgraded DocuSign from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $49.00 to $64.00 in a research report on Tuesday, January 16th. Wells Fargo & Company dropped their price target on DocuSign from $55.00 to $45.00 and set an “underweight” rating for the company in a research report on Monday, February 5th. JMP Securities restated a “market outperform” rating and issued a $84.00 price target on shares of DocuSign in a research report on Monday, January 22nd. Finally, TheStreet upgraded DocuSign from a “d+” rating to a “c-” rating in a research report on Tuesday, December 19th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $60.25.

DocuSign Trading Down 1.0 %

Shares of DOCU opened at $58.90 on Friday. DocuSign has a twelve month low of $38.11 and a twelve month high of $64.76. The stock’s 50 day moving average is $55.37 and its two-hundred day moving average is $51.66. The firm has a market capitalization of $12.10 billion, a PE ratio of 163.62, a P/E/G ratio of 5.20 and a beta of 0.89.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, March 7th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. DocuSign had a return on equity of 13.91% and a net margin of 2.68%. The company had revenue of $712.39 million for the quarter, compared to analyst estimates of $698.05 million. On average, sell-side analysts predict that DocuSign will post 0.86 EPS for the current year.

Insider Activity at DocuSign

In related news, insider Stephen Shute sold 15,109 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $57.02, for a total transaction of $861,515.18. Following the sale, the insider now owns 8,959 shares of the company’s stock, valued at $510,842.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other DocuSign news, insider Stephen Shute sold 15,109 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $57.02, for a total value of $861,515.18. Following the sale, the insider now directly owns 8,959 shares of the company’s stock, valued at approximately $510,842.18. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Peter Solvik sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $60.00, for a total value of $900,000.00. Following the completion of the sale, the director now directly owns 783 shares in the company, valued at $46,980. The disclosure for this sale can be found here. Insiders have sold a total of 54,871 shares of company stock valued at $3,176,199 over the last quarter. Insiders own 17.80% of the company’s stock.

Institutional Trading of DocuSign

A number of hedge funds have recently added to or reduced their stakes in the business. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its holdings 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 worth $28,000 after purchasing an additional 220 shares during the period. Capital Analysts LLC raised its holdings in shares of DocuSign by 781.7% in the 4th quarter. Capital Analysts LLC now owns 529 shares of the company’s stock worth $31,000 after purchasing an additional 469 shares during the period. BluePath Capital Management LLC purchased a new position in shares of DocuSign in the 3rd quarter worth about $32,000. McGlone Suttner Wealth Management Inc. purchased a new position in shares of DocuSign in the 4th quarter worth about $32,000. Finally, Virtus Fund Advisers LLC purchased a new position in shares of DocuSign in the 4th quarter worth about $33,000. 77.64% of the stock is owned by institutional investors and hedge funds.

About DocuSign

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.