Jefferies Financial Group Forecasts Strong Price Appreciation for DocuSign (NASDAQ:DOCU) Stock

DocuSign (NASDAQ:DOCU) had its price target upped by analysts at Jefferies Financial Group from $80.00 to $95.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s target price indicates a potential upside of 13.11% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Citigroup boosted their target price on shares of DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Bank of America boosted their price objective on shares of DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Royal Bank of Canada boosted their price objective 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. Finally, JMP Securities boosted their price objective on shares of DocuSign from $84.00 to $108.00 and gave the stock a “market outperform” rating in a research report on Friday, November 22nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned 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 price target of $70.73.

DocuSign Stock Performance

Shares of NASDAQ DOCU opened at $83.99 on Tuesday. The firm has a market capitalization of $17.05 billion, a P/E ratio of 17.72, a PEG ratio of 8.31 and a beta of 0.92. DocuSign has a one year low of $44.34 and a one year high of $86.75. The company’s fifty day moving average is $73.33 and its two-hundred day moving average is $61.52.

DocuSign (NASDAQ:DOCU) last issued its earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.80 by $0.17. The company had revenue of $736.03 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the firm earned $0.09 EPS. On average, sell-side analysts forecast that DocuSign will post 1.03 earnings per share for the current fiscal year.

Insider Buying and Selling at DocuSign

In other news, CFO Blake Jeffrey Grayson sold 9,552 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $68.80, for a total transaction of $657,177.60. Following the completion of the transaction, the chief financial officer now owns 78,265 shares of the company’s stock, valued at $5,384,632. This represents a 10.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Allan C. Thygesen sold 7,763 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $80.54, for a total transaction of $625,232.02. Following the sale, the chief executive officer now directly owns 100,062 shares of the company’s stock, valued at approximately $8,058,993.48. This trade represents a 7.20 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,596 shares of company stock worth $4,441,529. Corporate insiders own 1.66% of the company’s stock.

Institutional Trading of DocuSign

Institutional investors and hedge funds have recently bought and sold shares of the business. Massmutual Trust Co. FSB ADV increased its position in DocuSign by 5,000.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after purchasing an additional 500 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in DocuSign during the 3rd quarter worth approximately $28,000. Mather Group LLC. increased its position 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 purchasing an additional 564 shares in the last quarter. Brooklyn Investment Group acquired a new stake in DocuSign during the 3rd quarter worth approximately $33,000. Finally, Reston Wealth Management LLC acquired a new stake in DocuSign during the 3rd quarter worth 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.