DocuSign (NASDAQ:DOCU) Stock Price Expected to Rise, JMP Securities Analyst Says

DocuSign (NASDAQ:DOCU) had its price target lifted by equities research analysts at JMP Securities from $84.00 to $108.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ target price points to a potential upside of 34.70% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on DOCU. Royal Bank of Canada lifted their price target on shares of DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research note on Friday, September 6th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. Wells Fargo & Company upped their price target on shares of DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Citigroup lifted their price objective on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Finally, Robert W. Baird increased their target price on DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Two investment 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $65.80.

DocuSign Stock Performance

Shares of DocuSign stock opened at $80.18 on Friday. The firm has a 50-day simple moving average of $68.94 and a two-hundred day simple moving average of $60.07. DocuSign has a fifty-two week low of $42.12 and a fifty-two week high of $83.68. The company has a market cap of $16.27 billion, a P/E ratio of 16.92, a price-to-earnings-growth ratio of 8.41 and a beta of 0.90.

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

Insider Activity at DocuSign

In other news, insider Robert Chatwani sold 14,799 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total value of $820,752.54. Following the sale, the insider now directly owns 70,748 shares of the company’s stock, valued at approximately $3,923,684.08. The trade was a 17.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $56.56, for a total value of $30,203.04. Following the transaction, the director now owns 7,202 shares in the company, valued at $407,345.12. This trade represents a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 69,558 shares of company stock valued at $4,272,768. 1.66% of the stock is owned by company insiders.

Hedge Funds Weigh In On DocuSign

Several hedge funds have recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV grew its position in DocuSign by 5,000.0% in 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 in the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of DocuSign in the third quarter valued at approximately $28,000. Mather Group LLC. increased its stake in DocuSign by 4,338.5% during the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after buying an additional 564 shares during the period. Brooklyn Investment Group acquired a new stake in DocuSign during the 3rd quarter worth approximately $33,000. Finally, Reston Wealth Management LLC purchased a new position in DocuSign in the 3rd quarter valued at approximately $47,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

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.