Docusign (NASDAQ:DOCU) Cut to Equal Weight at Morgan Stanley

Morgan Stanley cut shares of Docusign (NASDAQ:DOCU) from an overweight rating to an equal weight rating in a research note issued to investors on Monday morning, BenzingaRatingsTable reports. Morgan Stanley currently has $76.00 price objective on the stock, up from their prior price objective of $67.00.

Several other equities research analysts have also recently issued reports on DOCU. Zacks Investment Research raised shares of Docusign from a sell rating to a hold rating in a research report on Wednesday, November 6th. ValuEngine cut shares of Docusign from a hold rating to a sell rating in a research report on Tuesday, December 10th. JMP Securities raised their target price on shares of Docusign to $86.00 and gave the stock an outperform rating in a research report on Friday, December 6th. Bank of America raised their target price on shares of Docusign from $62.00 to $85.00 and gave the stock a neutral rating in a research report on Friday, December 6th. Finally, Royal Bank of Canada raised their target price on shares of Docusign from $80.00 to $93.00 and gave the stock an outperform rating in a research report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. Docusign has a consensus rating of Buy and an average target price of $77.33.

DOCU opened at $73.08 on Monday. The company’s 50 day simple moving average is $73.72 and its 200 day simple moving average is $61.66. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.48 and a current ratio of 1.48. Docusign has a 1 year low of $42.22 and a 1 year high of $77.01. The stock has a market capitalization of $13.06 billion, a PE ratio of -25.20 and a beta of 1.44.

Docusign (NASDAQ:DOCU) last released its earnings results on Thursday, December 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.08. Docusign had a negative net margin of 25.28% and a negative return on equity of 26.77%. The business had revenue of $249.50 million for the quarter, compared to analysts’ expectations of $240.40 million. Docusign’s quarterly revenue was up 39.9% compared to the same quarter last year. As a group, sell-side analysts expect that Docusign will post -0.9 earnings per share for the current fiscal year.

In other news, CRO Loren Alhadeff sold 8,000 shares of Docusign stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $69.76, for a total transaction of $558,080.00. Following the sale, the executive now owns 214,078 shares in the company, valued at $14,934,081.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Scott V. Olrich sold 2,000 shares of Docusign stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $75.07, for a total transaction of $150,140.00. Following the sale, the chief operating officer now owns 479,852 shares in the company, valued at approximately $36,022,489.64. The disclosure for this sale can be found here. Insiders sold 1,585,805 shares of company stock worth $119,025,392 in the last 90 days. 13.60% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of DOCU. North Star Investment Management Corp. purchased a new stake in shares of Docusign during the third quarter valued at approximately $25,000. Hartford Financial Management Inc. purchased a new stake in shares of Docusign during the third quarter valued at approximately $31,000. Winslow Evans & Crocker Inc. purchased a new stake in shares of Docusign during the fourth quarter valued at approximately $32,000. Whittier Trust Co. raised its stake in shares of Docusign by 229.4% during the third quarter. Whittier Trust Co. now owns 560 shares of the company’s stock valued at $35,000 after purchasing an additional 390 shares during the period. Finally, Squar Milner Financial Services LLC raised its stake in shares of Docusign by 719.1% during the third quarter. Squar Milner Financial Services LLC now owns 770 shares of the company’s stock valued at $47,000 after purchasing an additional 676 shares during the period. Institutional investors own 80.09% of the company’s stock.

Docusign Company Profile

DocuSign, Inc provides cloud based software in the United States. The company offers e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. The company sells its products through direct, partner-assisted, and Web-based sales. It serves enterprise businesses, commercial businesses, and small businesses, such as professionals, sole proprietorships and individuals.

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Analyst Recommendations for Docusign (NASDAQ:DOCU)

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