Wells Fargo & Company Forecasts Strong Price Appreciation for DocuSign (NASDAQ:DOCU) Stock

DocuSign (NASDAQ:DOCU) had its price target lifted by stock analysts at Wells Fargo & Company from $70.00 to $73.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “underweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential downside of 14.88% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research note on Friday. JMP Securities reaffirmed a “market outperform” rating and set a $124.00 target price on shares of DocuSign in a research note on Tuesday, January 7th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 target price (up previously from $57.00) on shares of DocuSign in a research note on Friday, December 6th. Piper Sandler increased their target price on shares of DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Hsbc Global Res raised shares of DocuSign to a “moderate sell” rating in a research note on Friday, December 6th. Two research 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $95.58.

DocuSign Trading Up 14.8 %

Shares of DOCU opened at $85.76 on Friday. DocuSign has a 12-month low of $48.70 and a 12-month high of $107.86. The firm has a 50-day moving average price of $87.97 and a 200 day moving average price of $79.37. The firm 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 (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The firm had revenue of $776.25 million during the quarter, compared to analyst estimates of $760.94 million. During the same quarter in the prior year, the firm posted $0.76 earnings per share. DocuSign’s quarterly revenue was up 9.0% on a year-over-year basis. Equities research analysts predict that DocuSign will post 1.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, 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 transaction of $695,200.00. Following the completion of the sale, the chief financial officer now owns 77,851 shares in the company, valued at approximately $6,765,251.90. The trade was a 9.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $94.60, for a total transaction of $50,516.40. Following the sale, the director now owns 7,736 shares of the company’s stock, valued at $731,825.60. This represents a 6.46 % 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 90 days. 1.66% of the stock is owned by insiders.

Institutional Trading of DocuSign

Institutional investors have recently modified their holdings of the stock. Itau Unibanco Holding S.A. purchased a new stake in DocuSign in the 3rd quarter valued at $28,000. Kestra Investment Management LLC purchased a new stake in DocuSign in the 4th quarter valued at $30,000. Brooklyn Investment Group purchased a new stake in DocuSign in the 3rd quarter valued at $33,000. Modus Advisors LLC purchased a new stake in DocuSign in the 4th quarter valued at $36,000. Finally, First Horizon Advisors Inc. raised its position in 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 during the last quarter. 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.