UBS Group Has Lowered Expectations for DocuSign (NASDAQ:DOCU) Stock Price

DocuSign (NASDAQ:DOCU) had its price objective cut by analysts at UBS Group from $100.00 to $90.00 in a report released on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s price objective points to a potential upside of 4.94% from the company’s current price.

Other research analysts also recently issued reports about the company. Bank of America reduced their price objective on DocuSign from $112.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research note on Friday. Citigroup reaffirmed a “buy” rating on shares of DocuSign in a research note on Thursday, March 6th. HSBC reaffirmed a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. Finally, Robert W. Baird raised their target price on DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $95.58.

DocuSign Price Performance

Shares of DOCU stock opened at $85.76 on Friday. The company has a market cap of $17.33 billion, a price-to-earnings ratio of 17.68, a PEG ratio of 6.94 and a beta of 1.02. The stock has a 50 day simple moving average of $87.97 and a 200-day simple moving average of $79.37. DocuSign has a 1-year low of $48.70 and a 1-year high of $107.86.

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

Insider Activity at DocuSign

In related news, insider Robert Chatwani sold 14,800 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $97.76, for a total transaction of $1,446,848.00. Following the completion of the sale, the insider now owns 73,414 shares in the company, valued at $7,176,952.64. The trade was a 16.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $86.90, for a total value of $695,200.00. Following the completion of the sale, the chief financial officer now owns 77,851 shares of the company’s stock, valued at approximately $6,765,251.90. This 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 in the last three months. 1.66% of the stock is owned by company insiders.

Institutional Investors Weigh In On DocuSign

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wood Tarver Financial Group LLC purchased a new stake in DocuSign in the fourth quarter valued at approximately $37,000. Audent Global Asset Management LLC raised its stake in shares of DocuSign by 382.6% during the fourth quarter. Audent Global Asset Management LLC now owns 27,425 shares of the company’s stock worth $2,467,000 after purchasing an additional 21,742 shares during the last quarter. Siemens Fonds Invest GmbH purchased a new stake in shares of DocuSign during the fourth quarter worth approximately $772,000. Fluent Financial LLC acquired a new position in DocuSign during the fourth quarter worth $694,000. Finally, Total Wealth Planning & Management Inc. acquired a new position in DocuSign during the fourth quarter worth $312,000. Hedge funds and other 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.