DocuSign, Inc. (NASDAQ:DOCU) Receives $59.36 Average Target Price from Brokerages

Shares of DocuSign, Inc. (NASDAQ:DOCU) have been given an average recommendation of “Hold” by the twelve ratings firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $59.36.

DOCU has been the subject of a number of research analyst reports. Piper Sandler dropped their price target on DocuSign from $65.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, June 7th. Morgan Stanley cut their price target on shares of DocuSign from $65.00 to $62.00 and set an “equal weight” rating for the company in a research report on Friday, June 7th. Royal Bank of Canada decreased their price objective on DocuSign from $59.00 to $52.00 and set a “sector perform” rating on the stock in a report on Friday, June 7th. Citigroup dropped their target price on DocuSign from $93.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, June 5th. Finally, Robert W. Baird decreased their price target on DocuSign from $65.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, June 7th.

DocuSign Stock Up 0.6 %

DOCU stock opened at $56.80 on Tuesday. The stock has a 50-day simple moving average of $53.57 and a two-hundred day simple moving average of $55.37. DocuSign has a twelve month low of $38.11 and a twelve month high of $64.76. The firm has a market capitalization of $11.63 billion, a PE ratio of 109.23, a PEG ratio of 8.34 and a beta of 0.94.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings data on Thursday, June 6th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.20 by $0.09. DocuSign had a net margin of 3.81% and a return on equity of 15.44%. The company had revenue of $709.64 million during the quarter, compared to analysts’ expectations of $706.07 million. On average, equities research analysts anticipate that DocuSign will post 0.88 EPS for the current fiscal year.

Insider Buying and Selling

In other DocuSign news, CEO Allan C. Thygesen sold 7,911 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $53.77, for a total transaction of $425,374.47. Following the completion of the transaction, the chief executive officer now owns 117,643 shares of the company’s stock, valued at $6,325,664.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Allan C. Thygesen sold 7,911 shares of DocuSign stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $53.77, for a total transaction of $425,374.47. Following the completion of the transaction, the chief executive officer now directly owns 117,643 shares in the company, valued at $6,325,664.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Allan C. Thygesen sold 7,725 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $54.89, for a total transaction of $424,025.25. Following the completion of the transaction, the chief executive officer now owns 109,918 shares in the company, valued at approximately $6,033,399.02. The disclosure for this sale can be found here. Insiders have sold a total of 475,192 shares of company stock valued at $25,095,034 over the last ninety days. Company insiders own 1.66% of the company’s stock.

Institutional Investors Weigh In On DocuSign

Hedge funds have recently added to or reduced their stakes in the stock. Massmutual Trust Co. FSB ADV grew its position in shares of DocuSign by 5,000.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock valued at $27,000 after acquiring an additional 500 shares during the period. Capital Analysts LLC grew its holdings in DocuSign by 781.7% during the fourth quarter. Capital Analysts LLC now owns 529 shares of the company’s stock valued at $31,000 after purchasing an additional 469 shares during the period. Mather Group LLC. increased its position in DocuSign by 4,338.5% in the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after buying an additional 564 shares in the last quarter. Register Financial Advisors LLC bought a new position in shares of DocuSign in the first quarter worth about $37,000. Finally, ICA Group Wealth Management LLC purchased a new position in shares of DocuSign during the 4th quarter valued at about $39,000. 77.64% of the stock is currently owned by hedge funds and other 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.