Docusign (NASDAQ:DOCU) Hits New 12-Month High – Time to Buy?

Shares of Docusign Inc. (NASDAQ:DOCU) hit a new 52-week high during trading on Tuesday. The company traded as high as $79.59 and last traded at $77.9960, with a volume of 340,548 shares trading hands. The stock had previously closed at $76.66.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Citigroup boosted their price target on Docusign from $54.00 to $72.00 and gave the stock a “neutral” rating in a report on Friday, September 4th. Yorkville Ives started coverage on Docusign in a research note on Monday, October 5th. They issued an “in-line” rating and a $72.00 price objective for the company. Weiss Ratings upgraded shares of Docusign from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Piper Sandler lifted their target price on shares of Docusign from $52.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, September 4th. Finally, Wells Fargo & Company boosted their target price on shares of Docusign from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Friday, September 4th. Three analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $67.62.

Docusign Price Performance

The company’s 50-day moving average price is $67.00 and its two-hundred day moving average price is $54.97. The company has a market capitalization of $14.80 billion, a price-to-earnings ratio of 48.13, a PEG ratio of 2.76 and a beta of 0.86.

Docusign (NASDAQ:DOCU) last released its earnings results on Thursday, September 3rd. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.07. The business had revenue of $875.75 million for the quarter, compared to analyst estimates of $867.22 million. Docusign had a net margin of 9.82% and a return on equity of 18.29%. Docusign’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 earnings per share. On average, equities research analysts expect that Docusign Inc. will post 2.14 EPS for the current fiscal year.

Insider Transactions at Docusign

In related news, CEO Allan C. Thygesen sold 26,250 shares of the company’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $69.29, for a total transaction of $1,818,862.50. Following the sale, the chief executive officer owned 166,801 shares in the company, valued at $11,557,641.29. This represents a 13.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Chatwani sold 14,676 shares of the firm’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $69.41, for a total value of $1,018,661.16. Following the sale, the insider directly owned 75,928 shares of the company’s stock, valued at $5,270,162.48. This represents a 16.20% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 165,868 shares of company stock worth $11,121,890. Corporate insiders own 0.59% of the company’s stock.

Institutional Investors Weigh In On Docusign

A number of hedge funds have recently added to or reduced their stakes in DOCU. Tred Avon Family Wealth LLC lifted its stake in Docusign by 3.6% during the first quarter. Tred Avon Family Wealth LLC now owns 6,176 shares of the company’s stock worth $293,000 after purchasing an additional 215 shares during the last quarter. Riversedge Advisors LLC increased its stake in Docusign by 4.5% in the third quarter. Riversedge Advisors LLC now owns 5,182 shares of the company’s stock valued at $348,000 after purchasing an additional 225 shares during the last quarter. First Citizens Bank & Trust Co. increased its stake in Docusign by 2.1% in the first quarter. First Citizens Bank & Trust Co. now owns 11,745 shares of the company’s stock valued at $557,000 after purchasing an additional 239 shares during the last quarter. Integrated Wealth Concepts LLC raised its holdings in Docusign by 2.0% during the second quarter. Integrated Wealth Concepts LLC now owns 14,359 shares of the company’s stock worth $638,000 after purchasing an additional 277 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp raised its holdings in Docusign by 3.4% during the first quarter. OMERS ADMINISTRATION Corp now owns 8,878 shares of the company’s stock worth $421,000 after purchasing an additional 296 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors.

Docusign Company Profile

DocuSign, Inc is a software company that provides digital agreement and electronic signature solutions. Its platform enables individuals and organizations to prepare, send, sign, manage and store agreements electronically, helping customers replace paper-based contracting processes with digital workflows.

The company’s offerings include eSignature, contract lifecycle management, identity verification, notarization and agreement analytics tools. These products are designed to support agreement creation, negotiation, execution and post-signature management across functions such as sales, human resources, procurement, legal and finance.

Founded in 2003, DocuSign serves businesses, government organizations and individual users in markets around the world.