DocuSign, Inc. (NASDAQ:DOCU) Receives $89.15 Average Price Target from Analysts

DocuSign, Inc. (NASDAQ:DOCU) has been assigned a consensus rating of “Hold” from the sixteen ratings firms that are presently covering the firm, Marketbeat reports. Twelve research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $89.77.

A number of research firms recently issued reports on DOCU. Bank of America lowered their target price on DocuSign from $88.00 to $85.00 and set a “neutral” rating on the stock in a research report on Friday, June 6th. JPMorgan Chase & Co. lowered their target price on DocuSign from $81.00 to $77.00 and set a “neutral” rating on the stock in a research report on Friday, June 6th. Wells Fargo & Company raised DocuSign from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $67.00 to $80.00 in a research report on Friday. Jefferies Financial Group lowered their target price on DocuSign from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Finally, HSBC raised DocuSign from a “reduce” rating to a “hold” rating and set a $70.00 target price on the stock in a research report on Friday, April 11th.

Insiders Place Their Bets

In other news, Director Teresa Briggs sold 534 shares of the business’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 transaction of $46,676.94. Following the completion of the sale, the director now owns 8,270 shares in the company, valued at $722,880.70. The trade was a 6.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Robert Chatwani sold 15,706 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $83.19, for a total value of $1,306,582.14. Following the sale, the insider now owns 76,842 shares of the company’s stock, valued at approximately $6,392,485.98. This represents a 16.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,851 shares of company stock valued at $3,912,239 over the last 90 days. 1.01% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DocuSign

A number of institutional investors have recently made changes to their positions in the company. Palogic Value Management L.P. boosted its holdings in shares of DocuSign by 2.2% during the first quarter. Palogic Value Management L.P. now owns 5,438 shares of the company’s stock worth $443,000 after acquiring an additional 117 shares during the period. Wealthspire Advisors LLC boosted its holdings in shares of DocuSign by 1.9% during the first quarter. Wealthspire Advisors LLC now owns 6,579 shares of the company’s stock worth $536,000 after acquiring an additional 122 shares during the period. Foundry Partners LLC boosted its holdings in shares of DocuSign by 1.5% during the first quarter. Foundry Partners LLC now owns 8,491 shares of the company’s stock worth $691,000 after acquiring an additional 125 shares during the period. Bessemer Group Inc. boosted its holdings in shares of DocuSign by 27.5% during the first quarter. Bessemer Group Inc. now owns 602 shares of the company’s stock worth $49,000 after acquiring an additional 130 shares during the period. Finally, Citizens Financial Group Inc. RI boosted its holdings in shares of DocuSign by 2.3% during the fourth quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company’s stock worth $539,000 after acquiring an additional 133 shares during the period. Institutional investors own 77.64% of the company’s stock.

DocuSign Price Performance

Shares of DocuSign stock opened at $74.06 on Monday. The firm has a market cap of $14.96 billion, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 6.94 and a beta of 1.14. The stock’s 50-day moving average is $82.21 and its 200-day moving average is $86.01. DocuSign has a one year low of $48.80 and a one year high of $107.86.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, June 5th. The company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.09. The company had revenue of $763.65 million for the quarter, compared to analyst estimates of $748.79 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.82 earnings per share. On average, equities analysts expect that DocuSign will post 1.17 EPS for the current year.

DocuSign declared that its Board of Directors has authorized a share repurchase program on Thursday, June 5th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 6.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

About DocuSign

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.