Docusign (NASDAQ:DOCU) Upgraded at Wall Street Zen

Docusign (NASDAQ:DOCU) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday.

A number of other research firms have also issued reports on DOCU. Wells Fargo & Company dropped their price objective on shares of Docusign from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Friday, June 5th. UBS Group set a $60.00 price target on shares of Docusign in a report on Friday, June 5th. Weiss Ratings raised shares of Docusign from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 14th. Bank of America initiated coverage on shares of Docusign in a research note on Tuesday, March 31st. They set an “underperform” rating and a $52.00 price target on the stock. Finally, BTIG Research cut their price objective on shares of Docusign from $70.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, June 5th. Three analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $60.27.

Docusign Stock Performance

DOCU stock opened at $50.44 on Friday. Docusign has a 1 year low of $40.16 and a 1 year high of $86.65. The firm has a market cap of $9.63 billion, a P/E ratio of 32.75, a price-to-earnings-growth ratio of 1.39 and a beta of 0.90. The stock has a 50-day simple moving average of $47.83 and a 200-day simple moving average of $48.89.

Docusign (NASDAQ:DOCU) last announced its earnings results on Thursday, June 4th. The company reported $1.09 EPS for the quarter, beating the consensus estimate of $0.99 by $0.10. The business had revenue of $830.24 million for the quarter, compared to the consensus estimate of $824.71 million. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The company’s revenue was up 8.7% on a year-over-year basis. During the same period last year, the business posted $0.90 EPS. On average, equities research analysts predict that Docusign will post 2.03 EPS for the current year.

Insider Buying and Selling

In related news, CFO Blake Jeffrey Grayson sold 15,000 shares of Docusign stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $45.55, for a total value of $683,250.00. Following the completion of the sale, the chief financial officer owned 141,429 shares in the company, valued at approximately $6,442,090.95. The trade was a 9.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Paula Hansen sold 6,000 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $45.54, for a total transaction of $273,240.00. Following the completion of the sale, the executive directly owned 89,972 shares in the company, valued at $4,097,324.88. This represents a 6.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 76,695 shares of company stock worth $3,476,002 over the last 90 days. 0.59% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Step Capital Management Pte. Ltd. bought a new position in Docusign during the 4th quarter worth approximately $2,052,000. Retirement Systems of Alabama grew its position in shares of Docusign by 4.9% in the 4th quarter. Retirement Systems of Alabama now owns 544,473 shares of the company’s stock worth $37,242,000 after acquiring an additional 25,367 shares in the last quarter. Capital World Investors increased its holdings in shares of Docusign by 38.1% in the 4th quarter. Capital World Investors now owns 5,815,804 shares of the company’s stock valued at $397,801,000 after acquiring an additional 1,603,900 shares during the last quarter. CWM LLC increased its holdings in shares of Docusign by 151.8% in the 4th quarter. CWM LLC now owns 47,290 shares of the company’s stock valued at $3,235,000 after acquiring an additional 28,511 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Docusign by 1,894.4% during the 4th quarter. SG Americas Securities LLC now owns 238,010 shares of the company’s stock valued at $16,280,000 after acquiring an additional 226,076 shares in the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

About Docusign

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.