Piper Sandler Has Lowered Expectations for Docusign (NASDAQ:DOCU) Stock Price

Docusign (NASDAQ:DOCU) had its price target reduced by analysts at Piper Sandler from $90.00 to $75.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 14.21% from the stock’s current price.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. dropped their price target on shares of Docusign from $80.00 to $78.00 and set a “neutral” rating on the stock in a research report on Friday. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $95.00 price objective on shares of Docusign in a research note on Friday. Bank of America dropped their target price on shares of Docusign from $102.00 to $82.00 and set a “neutral” rating on the stock in a research report on Friday. Wells Fargo & Company reduced their target price on Docusign from $85.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday. Finally, Wall Street Zen raised Docusign from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Four research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $86.71.

Docusign Trading Down 7.6%

NASDAQ DOCU opened at $65.67 on Friday. The business has a fifty day simple moving average of $69.48 and a 200 day simple moving average of $75.17. Docusign has a 12 month low of $63.41 and a 12 month high of $107.86. The firm 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.

Docusign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, September 4th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.08. Docusign had a net margin of 9.57% and a return on equity of 14.98%. The firm had revenue of $800.64 million for the quarter, compared to the consensus estimate of $780.35 million. During the same period in the previous year, the firm earned $0.97 EPS. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, sell-side analysts predict that Docusign will post 1.17 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider James P. Shaughnessy sold 7,500 shares of Docusign stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $71.19, for a total value of $533,925.00. Following the sale, the insider owned 55,442 shares of the company’s stock, valued at approximately $3,946,915.98. The trade was a 11.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Anna Marrs sold 365 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $68.54, for a total value of $25,017.10. Following the completion of the transaction, the director owned 11,163 shares in the company, valued at approximately $765,112.02. The trade was a 3.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 104,076 shares of company stock worth $7,814,461 in the last three months. Insiders own 1.01% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. IFP Advisors Inc increased its holdings in Docusign by 31.9% in the 3rd quarter. IFP Advisors Inc now owns 1,955 shares of the company’s stock worth $145,000 after acquiring an additional 473 shares during the last quarter. Strategic Advocates LLC bought a new position in Docusign during the third quarter worth about $50,000. CIBC Bancorp USA Inc. bought a new position in Docusign during the third quarter worth about $522,000. Centaurus Financial Inc. increased its stake in shares of Docusign by 3.4% in the third quarter. Centaurus Financial Inc. now owns 5,582 shares of the company’s stock worth $402,000 after purchasing an additional 184 shares in the last quarter. Finally, Coldstream Capital Management Inc. increased its stake in shares of Docusign by 21.1% in the third quarter. Coldstream Capital Management Inc. now owns 4,147 shares of the company’s stock worth $299,000 after purchasing an additional 723 shares in the last quarter. 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.