Wedbush Reaffirms Neutral Rating for DocuSign (NASDAQ:DOCU)

DocuSign (NASDAQ:DOCU)‘s stock had its “neutral” rating reissued by stock analysts at Wedbush in a report released on Friday,Benzinga reports. They currently have a $100.00 price objective on the stock. Wedbush’s price objective suggests a potential upside of 16.60% from the stock’s previous close.

A number of other equities analysts have also commented on the company. JPMorgan Chase & Co. raised DocuSign from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $70.00 to $75.00 in a research note on Monday, March 10th. Citigroup reissued a “buy” rating on shares of DocuSign in a research note on Thursday, March 6th. UBS Group upped their price target on DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. HSBC reaffirmed a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 price target (up previously from $57.00) on shares of DocuSign in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $95.58.

DocuSign Price Performance

Shares of NASDAQ:DOCU opened at $85.76 on Friday. The business’s fifty day moving average price is $87.97 and its two-hundred day moving average price is $79.37. DocuSign has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The stock has a market capitalization of $17.33 billion, a price-to-earnings ratio of 17.68, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02.

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

Insider Activity at DocuSign

In other DocuSign news, CFO Blake Jeffrey Grayson sold 15,588 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $97.78, for a total value of $1,524,194.64. Following the completion of the sale, the chief financial officer now directly owns 85,851 shares in the company, valued at $8,394,510.78. This represents a 15.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Allan C. Thygesen sold 40,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total value of $3,601,600.00. Following the completion of the sale, the chief executive officer now owns 156,050 shares of the company’s stock, valued at $14,050,742. This trade represents a 20.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 104,422 shares of company stock worth $9,665,394. 1.66% of the stock is owned by insiders.

Institutional Investors Weigh In On DocuSign

Several large investors have recently modified their holdings of DOCU. FMR LLC increased its holdings in shares of DocuSign by 178.2% in the fourth quarter. FMR LLC now owns 6,101,024 shares of the company’s stock worth $548,726,000 after acquiring an additional 3,908,139 shares in the last quarter. Invesco Ltd. grew its holdings in shares of DocuSign by 283.9% during the fourth quarter. Invesco Ltd. now owns 3,447,275 shares of the company’s stock worth $310,048,000 after buying an additional 2,549,310 shares in the last quarter. Norges Bank bought a new position in shares of DocuSign during the fourth quarter worth about $223,196,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of DocuSign by 201.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,158,311 shares of the company’s stock worth $194,118,000 after buying an additional 1,442,639 shares in the last quarter. Finally, Jericho Capital Asset Management L.P. grew its holdings in shares of DocuSign by 34.0% during the fourth quarter. Jericho Capital Asset Management L.P. now owns 4,754,753 shares of the company’s stock worth $427,642,000 after buying an additional 1,205,500 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors.

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.