DocuSign (NASDAQ:DOCU) Price Target Raised to $115.00 at Citigroup

DocuSign (NASDAQ:DOCU) had its price target hoisted by investment analysts at Citigroup from $113.00 to $115.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 33.31% from the stock’s previous close.

Several other brokerages have also recently issued reports on DOCU. JMP Securities reiterated a “market outperform” rating and issued a $124.00 price objective on shares of DocuSign in a research note on Tuesday, January 7th. UBS Group reduced their price objective on DocuSign from $100.00 to $90.00 and set a “neutral” rating on the stock in a research note on Friday. Robert W. Baird increased their price objective on DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Bank of America dropped their target price on DocuSign from $112.00 to $98.00 and set a “neutral” rating on the stock in a report on Friday. Finally, Piper Sandler increased their target price on DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $95.58.

DocuSign Stock Performance

Shares of DOCU stock traded up $11.56 during trading hours on Friday, reaching $86.26. The company had a trading volume of 8,989,861 shares, compared to its average volume of 2,333,131. The stock has a fifty day moving average of $88.06 and a 200-day moving average of $79.04. The company has a market capitalization of $17.43 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 6.94 and a beta of 1.02. DocuSign has a 12-month low of $48.70 and a 12-month high of $107.86.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, March 13th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The company had revenue of $776.25 million for the quarter, compared to analysts’ expectations of $760.94 million. During the same period in the prior year, the firm earned $0.76 earnings per share. The firm’s revenue was up 9.0% compared to the same quarter last year. On average, analysts forecast that DocuSign will post 1.17 EPS for the current year.

Insider Activity at DocuSign

In other DocuSign news, CFO Blake Jeffrey Grayson sold 15,588 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $97.78, for a total value of $1,524,194.64. Following the completion of the transaction, the chief financial officer now directly owns 85,851 shares in the company, valued at approximately $8,394,510.78. The trade was a 15.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $94.60, for a total value of $50,516.40. Following the completion of the transaction, the director now owns 7,736 shares of the company’s stock, valued at $731,825.60. This trade represents a 6.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 104,422 shares of company stock worth $9,665,394 over the last 90 days. Company insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Toronto Dominion Bank raised its holdings in DocuSign by 30.3% in the 3rd quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock valued at $1,624,000 after acquiring an additional 6,081 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of DocuSign by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock worth $82,478,000 after buying an additional 16,014 shares during the last quarter. Quantinno Capital Management LP increased its holdings in shares of DocuSign by 39.5% during the 3rd quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock worth $12,514,000 after buying an additional 57,104 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of DocuSign by 118.8% during the 4th quarter. Rhumbline Advisers now owns 608,123 shares of the company’s stock worth $54,695,000 after buying an additional 330,136 shares during the last quarter. Finally, KBC Group NV increased its holdings in shares of DocuSign by 32.7% during the 4th quarter. KBC Group NV now owns 1,535,107 shares of the company’s stock worth $138,067,000 after buying an additional 378,233 shares during the last quarter. 77.64% of the stock is currently 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.