Robert W. Baird Cuts Docusign (NASDAQ:DOCU) Price Target to $75.00

Docusign (NASDAQ:DOCU) had its price target decreased by investment analysts at Robert W. Baird from $90.00 to $75.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Robert W. Baird’s target price would indicate a potential upside of 5.49% from the company’s current price.

A number of other equities analysts also recently commented on DOCU. Weiss Ratings reiterated a “hold (c)” rating on shares of Docusign in a research note on Wednesday, October 8th. Wall Street Zen raised Docusign from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Zacks Research downgraded Docusign from a “strong-buy” rating to a “hold” rating in a report on Monday, November 24th. JPMorgan Chase & Co. upped their price target on Docusign from $77.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, September 5th. Finally, Needham & Company LLC restated a “hold” rating on shares of Docusign in a research note on Friday, September 5th. Four analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $90.93.

Docusign Price Performance

NASDAQ DOCU opened at $71.10 on Friday. The company has a market capitalization of $14.30 billion, a price-to-earnings ratio of 53.46, a price-to-earnings-growth ratio of 3.51 and a beta of 0.98. Docusign has a 12 month low of $63.50 and a 12 month high of $107.86. The company’s fifty day moving average price is $69.80 and its two-hundred day moving average price is $75.45.

Docusign (NASDAQ:DOCU) last released its earnings results on Thursday, September 4th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.08. The company had revenue of $800.64 million during the quarter, compared to the consensus estimate of $780.35 million. Docusign had a net margin of 9.08% and a return on equity of 14.01%. The company’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.97 EPS. As a group, analysts anticipate that Docusign will post 1.17 EPS for the current year.

Insider Buying and Selling at Docusign

In other Docusign news, CEO Allan C. Thygesen sold 40,000 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $69.69, for a total value of $2,787,600.00. Following the sale, the chief executive officer directly owned 136,246 shares in the company, valued at approximately $9,494,983.74. This trade represents a 22.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider James P. Shaughnessy sold 7,500 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $71.19, for a total transaction of $533,925.00. Following the transaction, the insider directly owned 55,442 shares of the company’s stock, valued at approximately $3,946,915.98. This trade represents a 11.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 103,713 shares of company stock worth $7,791,047. 1.01% of the stock is owned by company insiders.

Institutional Trading of Docusign

Several hedge funds have recently bought and sold shares of the company. Banque Transatlantique SA bought a new position in shares of Docusign during the first quarter worth about $26,000. Summit Securities Group LLC acquired a new position in Docusign during the 1st quarter worth approximately $34,000. Rise Advisors LLC grew its stake in shares of Docusign by 864.6% during the 1st quarter. Rise Advisors LLC now owns 463 shares of the company’s stock worth $38,000 after acquiring an additional 415 shares in the last quarter. WPG Advisers LLC acquired a new stake in shares of Docusign in the first quarter valued at approximately $39,000. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in shares of Docusign in the second quarter worth $43,000. 77.64% of the stock is currently owned by institutional investors.

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.