DocuSign, Inc. (NASDAQ:DOCU) Receives Average Rating of “Hold” from Brokerages

DocuSign, Inc. (NASDAQ:DOCU) has been assigned an average recommendation of “Hold” from the eleven analysts that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $63.40.

A number of equities research analysts have weighed in on the company. Morgan Stanley lowered their price target on DocuSign from $65.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Friday, June 7th. Bank of America raised their price target on DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Piper Sandler lowered their price target on DocuSign from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, June 7th. JMP Securities restated a “market outperform” rating and set a $84.00 price target on shares of DocuSign in a research report on Thursday, September 5th. Finally, Royal Bank of Canada raised their price target on DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research report on Friday, September 6th.

DocuSign Stock Performance

NASDAQ:DOCU opened at $61.42 on Wednesday. The firm has a market capitalization of $12.57 billion, a price-to-earnings ratio of 118.12, a P/E/G ratio of 6.37 and a beta of 0.93. DocuSign has a 52-week low of $38.11 and a 52-week high of $64.76. The stock has a fifty day moving average of $56.52 and a 200 day moving average of $56.41.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.17. The company had revenue of $736.03 million during the quarter, compared to analyst estimates of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the company earned $0.09 earnings per share. Equities analysts forecast that DocuSign will post 0.99 earnings per share for the current fiscal year.

Insider Transactions at DocuSign

In other news, insider Stephen Shute sold 35,300 shares of DocuSign stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $52.87, for a total value of $1,866,311.00. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, insider Stephen Shute sold 35,300 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $52.87, for a total value of $1,866,311.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Allan C. Thygesen sold 7,725 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $54.89, for a total value of $424,025.25. Following the completion of the sale, the chief executive officer now directly owns 109,918 shares in the company, valued at $6,033,399.02. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 438,154 shares of company stock worth $23,351,788. Company insiders own 1.66% of the company’s stock.

Institutional Trading of DocuSign

Several large investors have recently modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in DocuSign during the 2nd quarter valued at approximately $16,248,000. American Trust bought a new stake in DocuSign during the 2nd quarter valued at approximately $281,000. Sanctuary Advisors LLC bought a new stake in DocuSign during the 2nd quarter valued at approximately $942,000. Clearbridge Investments LLC boosted its position in DocuSign by 4.1% during the 2nd quarter. Clearbridge Investments LLC now owns 2,920,842 shares of the company’s stock valued at $156,265,000 after acquiring an additional 115,616 shares in the last quarter. Finally, Truist Financial Corp boosted its position in DocuSign by 18.1% during the 2nd quarter. Truist Financial Corp now owns 9,138 shares of the company’s stock valued at $489,000 after acquiring an additional 1,399 shares in the last quarter. 77.64% of the stock is owned by institutional investors.

DocuSign Company Profile

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.