Docusign Inc. (NASDAQ:DOCU) Receives Average Rating of “Hold” from Analysts

Docusign Inc. (NASDAQ:DOCU) has earned an average recommendation of “Hold” from the sixteen brokerages that are presently covering the company, MarketBeat Ratings reports. Twelve investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $89.77.

Several equities analysts have weighed in on DOCU shares. JMP Securities reissued a “market outperform” rating and set a $124.00 price target on shares of Docusign in a research report on Tuesday, June 3rd. Needham & Company LLC reissued a “hold” rating on shares of Docusign in a research note on Friday, June 6th. UBS Group decreased their price target on shares of Docusign from $85.00 to $80.00 and set a “neutral” rating on the stock in a research note on Friday, June 6th. Bank of America cut their price objective on shares of Docusign from $88.00 to $85.00 and set a “neutral” rating for the company in a research report on Friday, June 6th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Docusign from $81.00 to $77.00 and set a “neutral” rating on the stock in a research note on Friday, June 6th.

Insider Transactions at Docusign

In other Docusign news, insider Robert Chatwani sold 22,875 shares of the company’s stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $74.79, for a total transaction of $1,710,821.25. Following the completion of the sale, the insider directly owned 72,126 shares in the company, valued at $5,394,303.54. This represents a 24.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $74.37, for a total value of $39,713.58. Following the completion of the transaction, the director owned 8,805 shares in the company, valued at approximately $654,827.85. This trade represents a 5.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 78,552 shares of company stock valued at $5,983,631. Corporate insiders own 1.01% of the company’s stock.

Hedge Funds Weigh In On Docusign

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Banque Transatlantique SA acquired a new stake in shares of Docusign in the first quarter valued at about $26,000. Hemington Wealth Management boosted its stake in shares of Docusign by 318.1% in the first quarter. Hemington Wealth Management now owns 347 shares of the company’s stock valued at $28,000 after purchasing an additional 264 shares during the period. Golden State Wealth Management LLC increased its stake 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 period. Summit Securities Group LLC acquired a new position in Docusign in the 1st quarter worth $34,000. Finally, Wood Tarver Financial Group LLC acquired a new stake in shares of Docusign during the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

Docusign Price Performance

Shares of NASDAQ:DOCU opened at $80.39 on Tuesday. The firm has a market capitalization of $16.24 billion, a price-to-earnings ratio of 15.20, a price-to-earnings-growth ratio of 29.81 and a beta of 1.08. The business’s 50 day simple moving average is $79.96 and its 200-day simple moving average is $82.92. Docusign has a 12 month low of $48.80 and a 12 month high of $107.86.

Docusign (NASDAQ:DOCU) last announced its earnings results on Thursday, June 5th. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.09. The company had revenue of $763.65 million during the quarter, compared to analysts’ expectations of $748.79 million. Docusign had a net margin of 36.50% and a return on equity of 14.27%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.82 earnings per share. On average, equities analysts anticipate that Docusign will post 1.17 earnings per share for the current year.

Docusign declared that its Board of Directors has authorized a stock repurchase program on Thursday, June 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 6.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

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.