DocuSign (NASDAQ:DOCU) Price Target Raised to $68.00 at Bank of America

DocuSign (NASDAQ:DOCU) had its price target upped by Bank of America from $60.00 to $68.00 in a report published on Friday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other equities analysts have also issued research reports about the stock. Royal Bank of Canada boosted their price target on shares of DocuSign from $52.00 to $57.00 and gave the company a sector perform rating in a report on Friday. Citigroup dropped their price target on DocuSign from $93.00 to $86.00 and set a buy rating on the stock in a research report on Wednesday, June 5th. Needham & Company LLC reiterated a hold rating on shares of DocuSign in a research report on Friday. Piper Sandler dropped their target price on shares of DocuSign from $65.00 to $60.00 and set a neutral rating on the stock in a report on Friday, June 7th. Finally, JMP Securities reiterated a market outperform rating and issued a $84.00 price target on shares of DocuSign in a report on Thursday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $61.45.

DocuSign Trading Up 4.0 %

NASDAQ DOCU opened at $59.19 on Friday. DocuSign has a 12 month low of $38.11 and a 12 month high of $64.76. The stock has a 50-day simple moving average of $55.44 and a 200 day simple moving average of $55.86. The company has a market capitalization of $12.12 billion, a PE ratio of 113.83, a P/E/G ratio of 9.74 and a beta of 0.93.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. DocuSign had a return on equity of 15.44% and a net margin of 3.81%. The company had revenue of $736.03 million during the quarter, compared to analysts’ expectations of $727.20 million. During the same period in the prior year, the business posted $0.09 EPS. DocuSign’s revenue was up 7.0% on a year-over-year basis. As a group, sell-side analysts predict that DocuSign will post 0.83 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Allan C. Thygesen sold 7,911 shares of the stock in a transaction that occurred 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 directly 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 the SEC website. In related news, insider James P. Shaughnessy sold 1,800 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $50.98, for a total value of $91,764.00. Following the completion of the sale, the insider now directly owns 35,703 shares in the company, valued at approximately $1,820,138.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Allan C. Thygesen sold 7,911 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $53.77, for a total value of $425,374.47. Following the completion of the sale, the chief executive officer now owns 117,643 shares in the company, valued at approximately $6,325,664.11. The disclosure for this sale can be found here. Insiders sold 482,418 shares of company stock worth $25,524,100 in the last quarter. Corporate insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in DOCU. Metis Global Partners LLC bought a new position in DocuSign during the fourth quarter worth $208,000. Charles Schwab Investment Management Inc. raised its holdings in DocuSign by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,260,296 shares of the company’s stock valued at $74,925,000 after acquiring an additional 44,646 shares during the period. Comerica Bank lifted its position in DocuSign by 228.8% during the first quarter. Comerica Bank now owns 28,901 shares of the company’s stock worth $1,721,000 after acquiring an additional 20,110 shares during the last quarter. Vanguard Group Inc. lifted its position in DocuSign by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 21,399,739 shares of the company’s stock worth $1,272,214,000 after acquiring an additional 417,352 shares during the last quarter. Finally, KBC Group NV boosted its holdings in shares of DocuSign by 119.3% during the fourth quarter. KBC Group NV now owns 739,196 shares of the company’s stock worth $43,945,000 after acquiring an additional 402,084 shares during the period. 77.64% of the stock is owned by institutional investors and hedge funds.

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.