DocuSign (NASDAQ:DOCU) Price Target Raised to $124.00

DocuSign (NASDAQ:DOCU) had its price target increased by JMP Securities from $108.00 to $124.00 in a research report released on Friday morning,Benzinga reports. The firm currently has a market outperform rating on the stock.

Other research analysts also recently issued reports about the company. Robert W. Baird lifted their target price on DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research report on Friday. Wells Fargo & Company increased their price objective 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 stock a “buy” rating in a research note on Tuesday, December 3rd. Finally, Bank of America upped their price target on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Three 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 stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $92.45.

DocuSign Trading Up 27.9 %

Shares of DOCU opened at $106.99 on Friday. The company’s fifty 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. The company 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.

DocuSign (NASDAQ:DOCU) last issued its 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 for the quarter, compared to analysts’ expectations of $727.20 million. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. DocuSign’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.09 EPS. As a group, research analysts forecast that DocuSign will post 1.03 earnings per share for the current year.

Insider Activity at DocuSign

In related news, CEO Allan C. Thygesen sold 7,648 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $62.47, for a total value of $477,770.56. Following the completion of the transaction, the chief executive officer now owns 115,589 shares of the company’s stock, valued at $7,220,844.83. The trade was a 6.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Blake Jeffrey Grayson sold 14,036 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $55.47, for a total transaction of $778,576.92. Following the sale, the chief financial officer now owns 87,611 shares in the company, valued at $4,859,782.17. The trade was a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,596 shares of company stock worth $4,441,529. Company insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its holdings in shares of DocuSign by 12.1% during the 3rd quarter. Franklin Resources Inc. now owns 520,925 shares of the company’s stock worth $35,870,000 after buying an additional 56,221 shares in the last quarter. Tidal Investments LLC grew its position in DocuSign by 62.8% in the third quarter. Tidal Investments LLC now owns 44,946 shares of the company’s stock valued at $2,791,000 after acquiring an additional 17,339 shares during the last quarter. Optimist Retirement Group LLC grew its position in DocuSign by 3.8% in the third quarter. Optimist Retirement Group LLC now owns 4,416 shares of the company’s stock valued at $274,000 after acquiring an additional 161 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in DocuSign during the third quarter worth about $51,000. Finally, World Investment Advisors LLC bought a new position in shares of DocuSign in the third quarter worth about $2,314,000. 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.