DocuSign (NASDAQ:DOCU) Price Target Lowered to $92.00 at Morgan Stanley

DocuSign (NASDAQ:DOCU) had its target price lowered by stock analysts at Morgan Stanley from $97.00 to $92.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 18.71% from the company’s current price.

A number of other equities analysts have also issued reports on the stock. William Blair upgraded shares of DocuSign from a “market perform” rating to an “outperform” rating in a research report on Monday, March 17th. JPMorgan Chase & Co. upgraded shares of DocuSign from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $70.00 to $75.00 in a research report on Monday, March 10th. JMP Securities reissued a “market outperform” rating and issued a $124.00 target price on shares of DocuSign in a report on Tuesday, January 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research note on Friday, March 14th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $90.00 price objective on shares of DocuSign in a report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $93.46.

DocuSign Trading Up 0.0 %

DOCU stock traded up $0.01 during midday trading on Wednesday, hitting $77.50. 747,951 shares of the company’s stock were exchanged, compared to its average volume of 2,719,927. The stock has a market capitalization of $15.69 billion, a PE ratio of 15.98, a P/E/G ratio of 6.94 and a beta of 1.20. DocuSign has a 1-year low of $48.70 and a 1-year high of $107.86. The business has a 50-day simple moving average of $82.19 and a two-hundred day simple moving average of $82.95.

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

Insider Activity at DocuSign

In other DocuSign news, CFO Blake Jeffrey Grayson sold 16,111 shares of the business’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $83.20, for a total transaction of $1,340,435.20. Following the sale, the chief financial officer now directly owns 93,960 shares of the company’s stock, valued at $7,817,472. The trade was a 14.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $87.41, for a total value of $46,676.94. Following the sale, the director now owns 8,270 shares in the company, valued at approximately $722,880.70. This represents a 6.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,851 shares of company stock worth $3,998,719. 1.66% of the stock is owned by insiders.

Institutional Investors Weigh In On DocuSign

A number of large investors have recently modified their holdings of the business. FMR LLC raised its position in shares of DocuSign by 178.2% during the fourth quarter. FMR LLC now owns 6,101,024 shares of the company’s stock worth $548,726,000 after acquiring an additional 3,908,139 shares during the last quarter. American Century Companies Inc. boosted its holdings in DocuSign by 18.5% during the 4th quarter. American Century Companies Inc. now owns 5,315,459 shares of the company’s stock worth $478,072,000 after acquiring an additional 831,611 shares during the last quarter. Jericho Capital Asset Management L.P. lifted its holdings in DocuSign by 34.0% during the fourth quarter. Jericho Capital Asset Management L.P. now owns 4,754,753 shares of the company’s stock worth $427,642,000 after acquiring an additional 1,205,500 shares during the period. Renaissance Technologies LLC raised its position in DocuSign by 4.9% in the fourth quarter. Renaissance Technologies LLC now owns 4,363,292 shares of the company’s stock worth $392,434,000 after acquiring an additional 205,304 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of DocuSign by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 3,732,363 shares of the company’s stock worth $335,147,000 after acquiring an additional 249,179 shares during the period. Institutional investors and hedge funds 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.