DocuSign (NASDAQ:DOCU) Sets New 12-Month High – Here’s Why

DocuSign, Inc. (NASDAQ:DOCU)’s stock price reached a new 52-week high on Monday . The stock traded as high as $69.90 and last traded at $69.51, with a volume of 272859 shares trading hands. The stock had previously closed at $68.89.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on DOCU shares. Citigroup boosted their target price on shares of DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a report on Friday, September 6th. Bank of America upped their target price on shares of DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. JMP Securities reiterated a “market outperform” rating and set a $84.00 price target on shares of DocuSign in a report on Thursday, September 5th. Wells Fargo & Company boosted their price target on shares of DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Finally, Royal Bank of Canada upped their target price on shares of DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a report on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $63.40.

DocuSign Stock Performance

The stock’s fifty day moving average price is $58.30 and its 200-day moving average price is $56.82. The firm has a market cap of $14.07 billion, a PE ratio of 132.48, a P/E/G ratio of 7.33 and a beta of 0.92.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. The business had revenue of $736.03 million during the quarter, compared to the consensus estimate of $727.20 million. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.09 EPS. Sell-side analysts forecast that DocuSign, Inc. will post 1.01 earnings per share for the current fiscal year.

Insider Activity

In other DocuSign news, Director Daniel D. Springer sold 287,052 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $53.78, for a total transaction of $15,437,656.56. Following the completion of the transaction, the director now directly owns 923,445 shares in the company, valued at approximately $49,662,872.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other DocuSign news, Director Daniel D. Springer sold 287,052 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $53.78, for a total transaction of $15,437,656.56. Following the completion of the transaction, the director now directly owns 923,445 shares in the company, valued at approximately $49,662,872.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $56.56, for a total transaction of $30,203.04. Following the transaction, the director now owns 7,202 shares of the company’s stock, valued at $407,345.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 418,002 shares of company stock worth $22,471,973 in the last 90 days. 1.66% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DocuSign

Several hedge funds have recently modified their holdings of the company. Creative Planning boosted its stake in shares of DocuSign by 5.6% during the 3rd quarter. Creative Planning now owns 14,453 shares of the company’s stock worth $897,000 after purchasing an additional 766 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of DocuSign by 27.1% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,721 shares of the company’s stock worth $107,000 after purchasing an additional 367 shares during the last quarter. Gilman Hill Asset Management LLC boosted its position in shares of DocuSign by 3.7% in the third quarter. Gilman Hill Asset Management LLC now owns 82,447 shares of the company’s stock worth $5,119,000 after acquiring an additional 2,960 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in shares of DocuSign by 2,689.1% in the third quarter. Exchange Traded Concepts LLC now owns 3,849 shares of the company’s stock worth $239,000 after acquiring an additional 3,711 shares during the last quarter. Finally, Inspire Investing LLC acquired a new stake in shares of DocuSign in the third quarter worth approximately $911,000. 77.64% of the stock is 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.