Jefferies Financial Group Has Lowered Expectations for DocuSign (NASDAQ:DOCU) Stock Price

DocuSign (NASDAQ:DOCU) had its price target lowered by equities research analysts at Jefferies Financial Group from $115.00 to $105.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s target price indicates a potential upside of 28.97% from the company’s previous close.

A number of other research analysts have also weighed in on DOCU. HSBC reissued a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. JMP Securities reiterated a “market outperform” rating and set a $124.00 price objective on shares of DocuSign in a research note on Tuesday, January 7th. UBS Group reduced their target price on shares of DocuSign from $100.00 to $90.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. Wedbush reiterated a “neutral” rating and issued a $100.00 price target on shares of DocuSign in a report on Friday, March 14th. Finally, JPMorgan Chase & Co. upgraded DocuSign from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $70.00 to $75.00 in a research note on Monday, March 10th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $95.83.

DocuSign Trading Down 2.1 %

Shares of DOCU traded down $1.77 during trading hours on Monday, reaching $81.41. The company had a trading volume of 849,194 shares, compared to its average volume of 2,682,315. The company has a market capitalization of $16.49 billion, a price-to-earnings ratio of 16.82, a PEG ratio of 6.94 and a beta of 1.02. The firm has a 50 day simple moving average of $87.18 and a 200-day simple moving average of $81.54. DocuSign has a 12-month low of $48.70 and a 12-month high of $107.86.

DocuSign (NASDAQ:DOCU) last posted its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.02. The firm had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period last year, the firm posted $0.76 EPS. Sell-side analysts forecast that DocuSign will post 1.17 earnings per share for the current year.

Insider Buying and Selling at DocuSign

In other news, Director Peter Solvik sold 10,000 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $91.26, for a total transaction of $912,600.00. Following the completion of the transaction, the director now owns 150,253 shares of the company’s stock, valued at approximately $13,712,088.78. The trade was a 6.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider James P. Shaughnessy sold 7,500 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.17, for a total transaction of $676,275.00. Following the completion of the sale, the insider now directly owns 43,781 shares in the company, valued at approximately $3,947,732.77. This trade represents a 14.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,851 shares of company stock worth $8,579,369 in the last ninety days. 1.66% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in DocuSign by 1,054.0% during the 4th quarter. Wellington Management Group LLP now owns 386,680 shares of the company’s stock worth $34,778,000 after acquiring an additional 353,172 shares during the period. Mascagni Wealth Management Inc. acquired a new stake in DocuSign in the fourth quarter worth about $154,000. 111 Capital bought a new position in DocuSign in the 4th quarter valued at about $1,721,000. Wealth Enhancement Advisory Services LLC increased its stake in DocuSign by 17.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 17,215 shares of the company’s stock valued at $1,548,000 after buying an additional 2,612 shares during the period. Finally, Wood Tarver Financial Group LLC bought a new stake in shares of DocuSign during the 4th quarter worth about $37,000. Institutional investors own 77.64% of the company’s stock.

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.