DocuSign (NASDAQ:DOCU) Given Outperform Rating at William Blair

William Blair reiterated their outperform rating on shares of DocuSign (NASDAQ:DOCU) in a research report released on Monday,RTT News reports.

Several other equities analysts also recently commented on DOCU. JMP Securities reaffirmed a “market outperform” rating and set a $124.00 price objective on shares of DocuSign in a research note on Thursday, April 17th. Morgan Stanley dropped their price target on DocuSign from $97.00 to $92.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. UBS Group lowered their price objective on DocuSign from $90.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, April 17th. Jefferies Financial Group lowered their price target on DocuSign from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Finally, Hsbc Global Res raised shares of DocuSign from a “moderate sell” rating to a “hold” rating in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, DocuSign has a consensus rating of “Hold” and a consensus target price of $93.08.

DocuSign Stock Performance

DocuSign stock opened at $71.89 on Monday. DocuSign has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The stock has a market cap of $14.56 billion, a P/E ratio of 14.82, a price-to-earnings-growth ratio of 6.94 and a beta of 1.20. The firm’s fifty day moving average price is $81.02 and its 200-day moving average price is $83.44.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.02. The business had revenue of $776.25 million during the quarter, compared to analyst estimates of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The company’s revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.76 earnings per share. On average, analysts predict that DocuSign will post 1.17 earnings per share for the current year.

Insider Activity at DocuSign

In other DocuSign news, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $86.90, for a total transaction of $695,200.00. Following the completion of the sale, the chief financial officer now directly owns 77,851 shares of the company’s stock, valued at $6,765,251.90. This trade represents a 9.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction on Monday, March 17th. The shares were sold at an average price of $87.41, for a total transaction of $46,676.94. Following the completion of the sale, the director now owns 8,270 shares in the company, 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. In the last ninety days, insiders sold 55,851 shares of company stock worth $4,607,439. 1.66% of the stock is owned by company insiders.

Institutional Trading of DocuSign

Several hedge funds have recently made changes to their positions in the business. World Investment Advisors LLC bought a new stake in shares of DocuSign in the 3rd quarter valued at approximately $2,314,000. Wilmington Savings Fund Society FSB purchased a new stake in DocuSign in the 3rd quarter worth about $51,000. Optimist Retirement Group LLC boosted its position in shares of DocuSign by 3.8% during the third quarter. Optimist Retirement Group LLC now owns 4,416 shares of the company’s stock valued at $274,000 after buying an additional 161 shares during the period. Tidal Investments LLC grew its stake in shares of DocuSign by 62.8% during the third quarter. Tidal Investments LLC now owns 44,946 shares of the company’s stock valued at $2,791,000 after buying an additional 17,339 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of DocuSign by 12.1% in the third quarter. Franklin Resources Inc. now owns 520,925 shares of the company’s stock worth $35,870,000 after buying an additional 56,221 shares during the period. 77.64% of the stock is currently owned by hedge funds and other 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.