Brokerages Set Docusign Inc. (NASDAQ:DOCU) Target Price at $60.27

Shares of Docusign Inc. (NASDAQ:DOCU) have been assigned a consensus recommendation of “Hold” from the nineteen ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, fifteen have given a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $60.2667.

DOCU has been the subject of several recent analyst reports. Bank of America initiated coverage on Docusign in a research report on Tuesday, March 31st. They set an “underperform” rating and a $52.00 target price for the company. Wall Street Zen downgraded Docusign from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 12th. UBS Group set a $60.00 price target on Docusign in a research note on Friday, June 5th. Wedbush dropped their price objective on Docusign from $60.00 to $58.00 and set a “neutral” rating for the company in a report on Friday, June 5th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Docusign in a research report on Friday, June 5th.

Docusign Trading Up 4.3%

DOCU stock opened at $53.38 on Tuesday. Docusign has a 12 month low of $40.16 and a 12 month high of $86.65. The company has a 50-day moving average price of $47.34 and a 200 day moving average price of $49.50. The stock has a market cap of $10.19 billion, a PE ratio of 34.66, a P/E/G ratio of 1.51 and a beta of 0.90.

Docusign (NASDAQ:DOCU) last issued its quarterly 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. Docusign had a net margin of 9.59% and a return on equity of 17.48%. The company had revenue of $830.24 million for the quarter, compared to the consensus estimate of $824.71 million. During the same period in the prior year, the firm posted $0.90 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. Sell-side analysts forecast that Docusign will post 2.03 EPS for the current year.

Insider Buying and Selling at Docusign

In related news, CRO Paula Hansen sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $45.54, for a total value of $273,240.00. Following the transaction, the executive owned 89,972 shares of the company’s stock, valued at $4,097,324.88. This trade represents a 6.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Chatwani sold 15,902 shares of Docusign stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $43.01, for a total transaction of $683,945.02. Following the sale, the insider owned 72,805 shares of the company’s stock, valued at $3,131,343.05. The trade was a 17.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 76,695 shares of company stock valued at $3,476,002. 0.59% of the stock is owned by company insiders.

Hedge Funds Weigh In On Docusign

A number of hedge funds have recently added to or reduced their stakes in the stock. Central Pacific Bank Trust Division bought a new stake in shares of Docusign during the fourth quarter valued at approximately $25,000. Modus Advisors LLC bought a new position in Docusign in the fourth quarter worth approximately $27,000. Torren Management LLC bought a new position in Docusign in the fourth quarter worth approximately $28,000. True Wealth Design LLC increased its holdings in Docusign by 105.2% during the 4th quarter. True Wealth Design LLC now owns 433 shares of the company’s stock worth $30,000 after purchasing an additional 222 shares during the period. Finally, Aventura Private Wealth LLC purchased a new position in Docusign during the 4th quarter worth $30,000. 77.64% of the stock is currently owned by institutional investors.

Docusign Company Profile

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.