DocuSign (NASDAQ:DOCU) Price Target Raised to $100.00

DocuSign (NASDAQ:DOCU) had its price objective boosted by Robert W. Baird from $59.00 to $100.00 in a research note released on Friday,Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

Other analysts have also issued research reports about the stock. Royal Bank of Canada raised their target price on shares of DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. raised their target price on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company raised their target price on shares of DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. Jefferies Financial Group raised their target price on shares of DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Finally, JMP Securities raised their target price on shares of DocuSign from $84.00 to $108.00 and gave the company a “market outperform” rating in a research report on Friday, November 22nd. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, DocuSign has a consensus rating of “Hold” and an average price target of $92.45.

DocuSign Trading Up 27.9 %

NASDAQ DOCU opened at $106.99 on Friday. The firm has a market capitalization of $21.72 billion, a price-to-earnings ratio of 22.06, a P/E/G ratio of 8.70 and a beta of 0.92. The firm’s 50 day simple moving average is $74.66 and its 200 day simple moving average is $62.04. DocuSign has a 1 year low of $44.34 and a 1 year high of $107.86.

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, topping the consensus estimate 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 net margin of 34.56% and a return on equity of 16.18%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the business posted $0.09 EPS. On average, equities research analysts forecast that DocuSign will post 1.03 earnings per share for the current year.

Insider Buying and Selling

In other DocuSign news, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $56.56, for a total transaction of $30,203.04. Following the sale, the director now owns 7,202 shares of the company’s stock, valued at approximately $407,345.12. This represents a 6.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider James P. Shaughnessy sold 7,500 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $67.83, for a total transaction of $508,725.00. Following the sale, the insider now directly owns 43,301 shares in the company, valued at $2,937,106.83. This trade represents a 14.76 % 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 over the last 90 days. 1.66% of the stock is owned by insiders.

Institutional Trading of DocuSign

Institutional investors have recently bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new stake in DocuSign during the third quarter valued at $28,000. Mather Group LLC. raised its holdings in shares of DocuSign by 4,338.5% during the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock valued at $31,000 after purchasing an additional 564 shares during the period. Brooklyn Investment Group acquired a new position in shares of DocuSign during the third quarter valued at about $33,000. Reston Wealth Management LLC acquired a new position in shares of DocuSign during the third quarter valued at about $47,000. Finally, nVerses Capital LLC acquired a new position in shares of DocuSign during the second quarter valued at about $48,000. Institutional investors 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.