DocuSign (NASDAQ:DOCU) Upgraded to “Outperform” at William Blair

William Blair upgraded shares of DocuSign (NASDAQ:DOCU) from a market perform rating to an outperform rating in a research note released on Monday, Marketbeat reports.

A number of other equities analysts have also recently commented on DOCU. Wedbush reiterated a “neutral” rating and issued a $100.00 target price on shares of DocuSign in a report on Friday. Jefferies Financial Group lifted their target price on DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Wells Fargo & Company lifted their target price on DocuSign from $70.00 to $73.00 and gave the stock an “underweight” rating in a report on Friday. JMP Securities reiterated a “market outperform” rating and issued a $124.00 target price on shares of DocuSign in a report on Tuesday, January 7th. Finally, Citigroup lifted their target price on DocuSign from $113.00 to $115.00 and gave the stock a “buy” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, DocuSign currently has an average rating of “Hold” and an average price target of $95.58.

DocuSign Price Performance

NASDAQ DOCU opened at $83.43 on Monday. The stock has a market capitalization of $16.85 billion, a PE ratio of 17.20, a P/E/G ratio of 6.94 and a beta of 1.02. The business has a 50 day simple moving average of $87.82 and a two-hundred day simple moving average of $79.69. DocuSign has a 1-year low of $48.70 and a 1-year high of $107.86.

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

Insider Buying and Selling at DocuSign

In other news, insider James P. Shaughnessy sold 7,500 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $90.17, for a total value of $676,275.00. Following the completion of the transaction, the insider now directly owns 43,781 shares of the company’s stock, valued at approximately $3,947,732.77. The trade was a 14.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Robert Chatwani sold 14,800 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $97.76, for a total value of $1,446,848.00. Following the completion of the transaction, the insider now directly owns 73,414 shares of the company’s stock, valued at approximately $7,176,952.64. The trade was a 16.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 96,422 shares of company stock valued at $8,903,395 in the last ninety days. Corporate insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in DOCU. Apollon Wealth Management LLC bought a new position in shares of DocuSign in the 3rd quarter worth $203,000. Victory Capital Management Inc. grew its stake in DocuSign by 211.4% during the 3rd quarter. Victory Capital Management Inc. now owns 409,877 shares of the company’s stock worth $25,449,000 after buying an additional 278,252 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in DocuSign by 9.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 5,442 shares of the company’s stock worth $338,000 after buying an additional 481 shares during the last quarter. Metis Global Partners LLC purchased a new position in DocuSign during the 3rd quarter worth $224,000. Finally, ING Groep NV purchased a new position in DocuSign during the 3rd quarter worth $1,099,000. 77.64% of the stock is 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.