Brokerages Set DocuSign, Inc. (NASDAQ:DOCU) Price Target at $63.40

DocuSign, Inc. (NASDAQ:DOCU) has earned a consensus recommendation of “Hold” from the eleven ratings firms that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $63.40.

A number of research firms have commented on DOCU. Robert W. Baird boosted their target price on DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. Royal Bank of Canada lifted their target price on shares of DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Friday, September 6th. Bank of America increased their price target 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. Finally, JMP Securities restated a “market outperform” rating and set a $84.00 price objective on shares of DocuSign in a research report on Thursday, September 5th.

Insiders Place Their Bets

In other news, Director Daniel D. Springer sold 287,052 shares of DocuSign stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $53.78, for a total value of $15,437,656.56. Following the completion of the sale, the director now owns 923,445 shares of the company’s stock, valued at $49,662,872.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Daniel D. Springer sold 70,983 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $49.84, for a total transaction of $3,537,792.72. Following the completion of the transaction, the director now owns 891,373 shares of the company’s stock, valued at approximately $44,426,030.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Daniel D. Springer sold 287,052 shares of DocuSign stock in a transaction on 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 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 disclosure for this sale can be found here. Insiders have sold a total of 410,502 shares of company stock valued at $21,963,248 in the last quarter. 1.66% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC increased its stake in DocuSign by 24.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,807 shares of the company’s stock worth $464,000 after acquiring an additional 1,524 shares during the last quarter. Dorsey & Whitney Trust CO LLC purchased a new position in DocuSign in the fourth quarter valued at approximately $204,000. Campbell & CO Investment Adviser LLC lifted its position in DocuSign by 17.6% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 19,905 shares of the company’s stock valued at $1,183,000 after buying an additional 2,983 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in DocuSign during the fourth quarter worth approximately $59,000. Finally, Rafferty Asset Management LLC grew its stake in DocuSign by 7.4% during the fourth quarter. Rafferty Asset Management LLC now owns 49,897 shares of the company’s stock worth $2,966,000 after buying an additional 3,431 shares during the period. 77.64% of the stock is owned by hedge funds and other institutional investors.

DocuSign Stock Up 6.5 %

Shares of NASDAQ DOCU opened at $66.89 on Wednesday. The stock has a market capitalization of $13.69 billion, a price-to-earnings ratio of 128.63, a price-to-earnings-growth ratio of 6.37 and a beta of 0.92. DocuSign has a 52 week low of $38.11 and a 52 week high of $68.64. The firm has a 50-day moving average price of $57.14 and a 200 day moving average price of $56.53.

DocuSign (NASDAQ:DOCU) last posted 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 company 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 company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the firm earned $0.09 EPS. Equities research analysts expect that DocuSign will post 0.99 EPS for the current fiscal year.

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.