UBS Group Raises DocuSign (NASDAQ:DOCU) Price Target to $100.00

DocuSign (NASDAQ:DOCU) had its price target increased by research analysts at UBS Group from $60.00 to $100.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price target would suggest a potential downside of 6.53% from the company’s current price.

A number of other equities analysts have also issued reports on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $90.00 target price (up from $57.00) on shares of DocuSign in a research report on Friday. Jefferies Financial Group upped their price target on shares of DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Piper Sandler raised their price objective on shares of DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday. Wells Fargo & Company upped their target price on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research note on Friday. Finally, JPMorgan Chase & Co. lifted their price target on DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 3rd. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $92.45.

DocuSign Trading Up 27.9 %

DOCU opened at $106.99 on Friday. DocuSign has a twelve month low of $44.34 and a twelve month high of $107.86. The firm has a market cap of $21.72 billion, a price-to-earnings ratio of 22.06, a PEG ratio of 8.70 and a beta of 0.92. The company has a fifty day simple moving average of $74.66 and a 200 day simple moving average of $62.01.

DocuSign (NASDAQ:DOCU) last announced its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. The business had revenue of $736.03 million for the quarter, compared to analyst estimates of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.09 earnings per share. On average, analysts forecast that DocuSign will post 1.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Robert Chatwani sold 14,799 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was 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 in the company, valued at $3,923,684.08. This trade represents a 17.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 14,036 shares of DocuSign stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $55.47, for a total value of $778,576.92. Following the sale, the chief financial officer now directly owns 87,611 shares in the company, valued at $4,859,782.17. The trade was a 13.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,596 shares of company stock valued at $4,441,529 in the last quarter. Company insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On DocuSign

A number of institutional investors and hedge funds have recently bought and sold shares of DOCU. Itau Unibanco Holding S.A. acquired a new stake in shares of DocuSign in the 3rd quarter worth approximately $28,000. Mather Group LLC. boosted its stake in DocuSign by 4,338.5% during the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock valued at $31,000 after purchasing an additional 564 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of DocuSign during the 3rd quarter valued at $33,000. Reston Wealth Management LLC bought a new stake in shares of DocuSign in the 3rd quarter worth $47,000. Finally, nVerses Capital LLC acquired a new stake in shares of DocuSign in the second quarter valued at $48,000. Institutional investors own 77.64% of the company’s stock.

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.