DocuSign, Inc. (NASDAQ:DOCU) Given Consensus Recommendation of “Hold” by Brokerages

Shares of DocuSign, Inc. (NASDAQ:DOCU) have been assigned a consensus recommendation of “Hold” from the sixteen ratings firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $89.15.

DOCU has been the topic of several recent research reports. Wedbush dropped their target price on shares of DocuSign from $100.00 to $85.00 and set a “neutral” rating on the stock in a report on Friday. UBS Group dropped their target price on shares of DocuSign from $85.00 to $80.00 and set a “neutral” rating on the stock in a report on Friday. William Blair restated an “outperform” rating on shares of DocuSign in a report on Monday, April 21st. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a report on Friday. Finally, Morgan Stanley lowered their price target on shares of DocuSign from $92.00 to $86.00 and set an “equal weight” rating on the stock in a report on Friday.

Insider Activity at DocuSign

In related news, Director Teresa Briggs sold 534 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $87.41, for a total value of $46,676.94. Following the completion of the transaction, the director now directly owns 8,270 shares of the company’s stock, valued at $722,880.70. This trade represents a 6.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 16,111 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $83.20, for a total transaction of $1,340,435.20. Following the transaction, the chief financial officer now directly owns 93,960 shares of the company’s stock, valued at $7,817,472. This represents a 14.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,851 shares of company stock valued at $3,912,239 in the last three months. 1.01% of the stock is owned by insiders.

Hedge Funds Weigh In On DocuSign

Institutional investors have recently bought and sold shares of the business. Banque Transatlantique SA purchased a new position in DocuSign during the 1st quarter worth approximately $26,000. Hemington Wealth Management raised its position in DocuSign by 318.1% during the 1st quarter. Hemington Wealth Management now owns 347 shares of the company’s stock worth $28,000 after buying an additional 264 shares during the last quarter. Kestra Investment Management LLC purchased a new position in DocuSign during the 4th quarter worth approximately $30,000. Golden State Wealth Management LLC raised its position in DocuSign by 519.4% during the 1st quarter. Golden State Wealth Management LLC now owns 384 shares of the company’s stock worth $31,000 after buying an additional 322 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new position in DocuSign during the 1st quarter worth approximately $34,000. 77.64% of the stock is owned by hedge funds and other institutional investors.

DocuSign Price Performance

Shares of DocuSign stock opened at $75.28 on Monday. DocuSign has a 1 year low of $48.80 and a 1 year high of $107.86. The firm’s 50-day moving average is $82.08 and its two-hundred day moving average is $86.32. The stock has a market cap of $15.24 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 6.94 and a beta of 1.14.

DocuSign (NASDAQ:DOCU) last issued its earnings results on Thursday, June 5th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.09. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The company had revenue of $763.65 million for the quarter, compared to analysts’ expectations of $748.79 million. During the same period in the prior year, the business earned $0.82 EPS. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. On average, equities analysts expect that DocuSign will post 1.17 earnings per share for the current year.

DocuSign declared that its Board of Directors has approved a stock buyback plan on Thursday, June 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 6.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

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.