DocuSign (NASDAQ:DOCU) Stock Price Expected to Rise, Citigroup Analyst Says

DocuSign (NASDAQ:DOCU) had its price target increased by stock analysts at Citigroup from $113.00 to $115.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target indicates a potential upside of 34.10% from the stock’s previous close.

Several other research analysts have also recently commented on the stock. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a report on Friday. 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 report on Tuesday, December 3rd. Piper Sandler raised their price target on shares of DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Royal Bank of Canada restated a “sector perform” rating and set a $90.00 price target on shares of DocuSign in a report on Friday. Finally, Morgan Stanley raised their price target on shares of DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $95.58.

DocuSign Price Performance

Shares of DOCU opened at $85.76 on Friday. The firm’s 50 day moving average is $87.97 and its 200-day moving average is $79.37. The stock has a market capitalization of $17.33 billion, a P/E ratio of 17.68, a P/E/G ratio of 6.94 and a beta of 1.02. DocuSign has a 12-month low of $48.70 and a 12-month high of $107.86.

DocuSign (NASDAQ:DOCU) last announced its earnings results on Thursday, March 13th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.84 by $0.02. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The company had revenue of $776.25 million during the quarter, compared to analysts’ expectations of $760.94 million. During the same period last year, the company posted $0.76 earnings per share. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, equities research analysts forecast that DocuSign will post 1.17 EPS for the current fiscal year.

Insider Buying and Selling at DocuSign

In other news, Director Peter Solvik sold 10,000 shares of DocuSign stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $91.26, for a total value of $912,600.00. Following the transaction, the director now owns 150,253 shares of the company’s stock, valued at $13,712,088.78. This trade represents a 6.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $86.90, for a total transaction of $695,200.00. Following the transaction, the chief financial officer now directly owns 77,851 shares in the company, valued at $6,765,251.90. This trade represents a 9.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 104,422 shares of company stock worth $9,665,394 over the last ninety days. 1.66% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DocuSign

Several institutional investors and hedge funds have recently bought and sold shares of the business. Kestra Investment Management LLC acquired a new stake in shares of DocuSign in the 4th quarter valued at $30,000. First Horizon Advisors Inc. boosted its stake in shares of DocuSign by 102.6% in the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock valued at $36,000 after purchasing an additional 201 shares in the last quarter. Modus Advisors LLC acquired a new stake in shares of DocuSign in the 4th quarter valued at $36,000. Wood Tarver Financial Group LLC acquired a new stake in shares of DocuSign in the 4th quarter valued at $37,000. Finally, McIlrath & Eck LLC boosted its stake in shares of DocuSign by 476.0% in the 4th quarter. McIlrath & Eck LLC now owns 432 shares of the company’s stock valued at $39,000 after purchasing an additional 357 shares in the last quarter. 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.