Royal Bank Of Canada Reaffirms Sector Perform Rating for Docusign (NASDAQ:DOCU)

Docusign (NASDAQ:DOCU)‘s stock had its “sector perform” rating reaffirmed by stock analysts at Royal Bank Of Canada in a research note issued to investors on Friday,Benzinga reports. They currently have a $95.00 price objective on the stock. Royal Bank Of Canada’s target price points to a potential upside of 43.29% from the stock’s current price.

DOCU has been the topic of several other research reports. Piper Sandler lifted their price objective on shares of Docusign from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, September 5th. Wedbush reduced their price target on shares of Docusign from $85.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday. Wall Street Zen upgraded shares of Docusign from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Morgan Stanley raised their price objective on Docusign from $86.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Monday, September 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Docusign in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $90.21.

Docusign Stock Down 6.8%

Shares of Docusign stock opened at $66.30 on Friday. The business has a fifty day simple moving average of $69.80 and a 200 day simple moving average of $75.45. The stock has a market cap of $13.33 billion, a PE ratio of 50.07, a price-to-earnings-growth ratio of 3.51 and a beta of 0.98. Docusign has a 12 month low of $63.41 and a 12 month high of $107.86.

Docusign (NASDAQ:DOCU) last posted its earnings results on Thursday, September 4th. The company reported $0.92 earnings per share (EPS) 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 analyst estimates of $780.35 million. Docusign had a return on equity of 14.01% and a net margin of 9.08%.The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.97 EPS. Analysts expect that Docusign will post 1.17 EPS for the current fiscal year.

Insider Activity at Docusign

In related news, insider James P. Shaughnessy sold 7,500 shares of the stock in a transaction that occurred 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 sale, the insider owned 55,442 shares in the company, valued at approximately $3,946,915.98. This trade represents a 11.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James A. Beer sold 450 shares of Docusign stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $68.54, for a total value of $30,843.00. Following the completion of the transaction, the director owned 14,478 shares in the company, valued at approximately $992,322.12. The trade was a 3.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 103,713 shares of company stock worth $7,791,047 in the last quarter. 1.01% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Docusign

Hedge funds have recently made changes to their positions in the stock. IFP Advisors Inc lifted its stake in Docusign by 31.9% in the 3rd quarter. IFP Advisors Inc now owns 1,955 shares of the company’s stock valued at $145,000 after purchasing an additional 473 shares during the last quarter. Strategic Advocates LLC bought a new position in shares of Docusign in the 3rd quarter valued at $50,000. CIBC Bancorp USA Inc. acquired a new stake in shares of Docusign during the 3rd quarter valued at $522,000. Centaurus Financial Inc. grew its position in Docusign by 3.4% during the 3rd quarter. Centaurus Financial Inc. now owns 5,582 shares of the company’s stock worth $402,000 after acquiring an additional 184 shares during the last quarter. Finally, Coldstream Capital Management Inc. increased its holdings in Docusign by 21.1% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,147 shares of the company’s stock worth $299,000 after purchasing an additional 723 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

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.