Royal Bank Of Canada Reiterates Sector Perform Rating for Docusign (NASDAQ:DOCU)

Docusign (NASDAQ:DOCU)‘s stock had its “sector perform” rating reissued by Royal Bank Of Canada in a note issued to investors on Friday, Marketbeat reports. They currently have a $95.00 price target on the stock. Royal Bank Of Canada’s target price would suggest a potential upside of 44.66% from the stock’s previous close.

Several other research firms have also weighed in on DOCU. Wedbush cut their target price on shares of Docusign from $85.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday. Morgan Stanley upped their price objective on shares of Docusign from $86.00 to $90.00 and gave the company an “equal weight” rating in a research report on Monday, September 8th. Zacks Research lowered shares of Docusign from a “strong-buy” rating to a “hold” rating in a report on Monday, November 24th. Piper Sandler upped their price target on Docusign from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, September 5th. Finally, Evercore ISI increased their target price on shares of Docusign from $90.00 to $92.00 and gave the stock an “in-line” rating in a report on Friday, September 5th. Four analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $86.71.

Docusign Price Performance

Shares of DOCU stock opened at $65.67 on Friday. The stock has a market cap of $13.21 billion, a PE ratio of 45.92, a price-to-earnings-growth ratio of 3.26 and a beta of 0.98. The stock has a 50-day moving average of $69.48 and a 200-day moving average of $75.17. Docusign has a one year low of $63.41 and a one year high of $107.86.

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

Insider Buying and Selling

In other news, insider James P. Shaughnessy sold 7,500 shares of the business’s 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 $3,946,915.98. The trade was a 11.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Teresa Briggs sold 365 shares of the company’s stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $69.19, for a total transaction of $25,254.35. Following the sale, the director owned 8,805 shares in the company, valued at $609,217.95. The trade was a 3.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 104,076 shares of company stock worth $7,814,461 in the last quarter. 1.01% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Docusign

A number of institutional investors have recently added to or reduced their stakes in DOCU. Banque Transatlantique SA bought a new stake in Docusign in the first quarter valued at approximately $26,000. Summit Securities Group LLC purchased a new position in shares of Docusign in the first quarter worth $34,000. Rise Advisors LLC raised its holdings in Docusign by 864.6% during the 1st quarter. Rise Advisors LLC now owns 463 shares of the company’s stock valued at $38,000 after buying an additional 415 shares during the last quarter. WPG Advisers LLC purchased a new stake in Docusign during the 1st quarter valued at $39,000. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in Docusign in the 2nd quarter worth $43,000. 77.64% of the stock is currently owned by 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.