UBS Group Issues Pessimistic Forecast for DocuSign (NASDAQ:DOCU) Stock Price

DocuSign (NASDAQ:DOCU) had its price objective lowered by equities researchers at UBS Group from $90.00 to $85.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s target price suggests a potential upside of 12.70% from the company’s previous close.

Other analysts have also recently issued research reports about the company. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a report on Thursday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $90.00 price target on shares of DocuSign in a report on Friday, March 14th. Wells Fargo & Company increased their price objective on DocuSign from $70.00 to $73.00 and gave the stock an “underweight” rating in a research report on Friday, March 14th. Morgan Stanley decreased their target price on DocuSign from $97.00 to $92.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Finally, Jefferies Financial Group lowered their price target on DocuSign from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Monday, March 31st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, DocuSign currently has a consensus rating of “Hold” and an average target price of $93.08.

DocuSign Price Performance

Shares of DOCU opened at $75.42 on Thursday. The firm has a market cap of $15.27 billion, a PE ratio of 15.55, a PEG ratio of 6.94 and a beta of 1.20. DocuSign has a 1 year low of $48.70 and a 1 year high of $107.86. The stock’s fifty day moving average price is $81.35 and its two-hundred day moving average price is $83.10.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings data on Thursday, March 13th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.84 by $0.02. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The business had revenue of $776.25 million for the quarter, compared to the consensus estimate of $760.94 million. During the same period in the prior year, the firm earned $0.76 earnings per share. The company’s revenue was up 9.0% compared to the same quarter last year. Sell-side analysts anticipate that DocuSign will post 1.17 earnings per share for the current fiscal year.

Insider Buying and Selling at DocuSign

In other DocuSign news, CFO Blake Jeffrey Grayson sold 8,000 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $86.90, for a total value of $695,200.00. Following the transaction, the chief financial officer now owns 77,851 shares in the company, valued at approximately $6,765,251.90. The trade was a 9.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Teresa Briggs sold 534 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $87.41, for a total transaction of $46,676.94. Following the sale, the director now owns 8,270 shares of the company’s stock, valued at approximately $722,880.70. This represents a 6.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,851 shares of company stock worth $4,607,439. 1.66% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. QRG Capital Management Inc. grew its position in shares of DocuSign by 10.1% in the 1st quarter. QRG Capital Management Inc. now owns 66,242 shares of the company’s stock worth $5,392,000 after buying an additional 6,087 shares during the last quarter. Adero Partners LLC boosted its holdings in DocuSign by 7.0% in the first quarter. Adero Partners LLC now owns 3,231 shares of the company’s stock valued at $263,000 after acquiring an additional 212 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in DocuSign by 6.6% in the first quarter. Janney Montgomery Scott LLC now owns 41,359 shares of the company’s stock valued at $3,367,000 after acquiring an additional 2,554 shares in the last quarter. Optas LLC raised its holdings in DocuSign by 7.6% in the 1st quarter. Optas LLC now owns 3,088 shares of the company’s stock worth $251,000 after purchasing an additional 219 shares in the last quarter. Finally, Ritholtz Wealth Management lifted its position in shares of DocuSign by 58.5% in the 1st quarter. Ritholtz Wealth Management now owns 3,926 shares of the company’s stock worth $320,000 after purchasing an additional 1,449 shares during the period. Institutional investors own 77.64% of the company’s stock.

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.