DocuSign (NASDAQ:DOCU) Sets New 52-Week High on Analyst Upgrade

DocuSign, Inc. (NASDAQ:DOCU) reached a new 52-week high during trading on Monday after JMP Securities raised their price target on the stock from $84.00 to $108.00. JMP Securities currently has a market outperform rating on the stock. DocuSign traded as high as $84.50 and last traded at $84.50, with a volume of 6562 shares changing hands. The stock had previously closed at $83.03.

A number of other brokerages have also recently commented on DOCU. Royal Bank of Canada increased 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. Citigroup raised their target price on shares of DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Robert W. Baird raised their target price on shares of DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Finally, Bank of America raised their target price on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $65.80.

Insider Buying and Selling at DocuSign

In other news, insider Robert Chatwani sold 14,799 shares of DocuSign stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total transaction of $820,752.54. Following the sale, the insider now 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $56.56, for a total transaction of $30,203.04. Following the completion of the sale, the director now directly owns 7,202 shares in the company, valued at $407,345.12. This represents a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,558 shares of company stock worth $4,272,768 over the last 90 days. Corporate insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of DOCU. Massmutual Trust Co. FSB ADV grew its stake 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. Itau Unibanco Holding S.A. purchased a new position in shares of DocuSign during the 3rd quarter worth about $28,000. Mather Group LLC. lifted its stake in shares of 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 acquiring an additional 564 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of DocuSign during the third quarter valued at $33,000. Finally, Reston Wealth Management LLC bought a new stake in shares of DocuSign during the third quarter valued at approximately $47,000. 77.64% of the stock is owned by institutional investors.

DocuSign Stock Up 2.0 %

The stock has a market cap of $17.19 billion, a PE ratio of 17.52, a price-to-earnings-growth ratio of 8.79 and a beta of 0.90. The firm has a 50 day moving average price of $69.47 and a 200 day moving average price of $60.27.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings data 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 firm had revenue of $736.03 million for 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 company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the firm earned $0.09 earnings per share. Equities analysts forecast that DocuSign, Inc. will post 1.01 earnings per share for the current year.

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.