JPMorgan Chase & Co. Issues Pessimistic Forecast for Docusign (NASDAQ:DOCU) Stock Price

Docusign (NASDAQ:DOCU) had its price target dropped by equities research analysts at JPMorgan Chase & Co. from $80.00 to $78.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 18.78% from the stock’s current price.

Other equities analysts also recently issued reports about the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Docusign in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Docusign from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Wells Fargo & Company cut their target price on shares of Docusign from $85.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday. Needham & Company LLC reiterated a “hold” rating on shares of Docusign in a report on Friday. Finally, Zacks Research downgraded shares of Docusign from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 24th. Four equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $86.71.

Docusign Stock Performance

NASDAQ:DOCU opened at $65.67 on Friday. The stock has a market capitalization of $13.21 billion, a P/E ratio of 45.92, a PEG ratio of 3.26 and a beta of 0.98. The company has a 50 day moving average price of $69.48 and a 200 day moving average price of $75.17. Docusign has a fifty-two week low of $63.41 and a fifty-two week high of $107.86.

Docusign (NASDAQ:DOCU) last announced its earnings results on Thursday, September 4th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.08. Docusign had a return on equity of 14.98% and a net margin of 9.57%.The company had revenue of $800.64 million for the quarter, compared to analyst estimates of $780.35 million. During the same quarter in the previous year, the company earned $0.97 earnings per share. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. Research analysts forecast that Docusign will post 1.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director James A. Beer sold 450 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $68.54, for a total value of $30,843.00. Following the completion of the transaction, the director directly owned 14,478 shares of the company’s stock, valued at $992,322.12. This represents a 3.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Paula Hansen sold 6,000 shares of the company’s stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $71.33, for a total transaction of $427,980.00. Following the completion of the transaction, the executive owned 58,968 shares of the company’s stock, valued at approximately $4,206,187.44. The trade was a 9.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 104,076 shares of company stock valued at $7,814,461 over the last 90 days. 1.01% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Docusign

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Banque Transatlantique SA bought a new position in shares of Docusign in the first quarter worth approximately $26,000. Summit Securities Group LLC bought a new stake in shares of Docusign during the 1st quarter valued at $34,000. Rise Advisors LLC raised its holdings in Docusign by 864.6% during the first quarter. Rise Advisors LLC now owns 463 shares of the company’s stock valued at $38,000 after acquiring an additional 415 shares during the period. WPG Advisers LLC purchased a new position in shares of Docusign in the first quarter valued at about $39,000. Finally, Twin Peaks Wealth Advisors LLC bought a new position in shares of Docusign in the second quarter worth about $43,000. 77.64% of the stock is 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.