DocuSign, Inc. (NASDAQ:DOCU) Given Consensus Recommendation of “Hold” by Analysts

DocuSign, Inc. (NASDAQ:DOCU) has earned a consensus recommendation of “Hold” from the eleven brokerages that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $63.40.

DOCU has been the subject of several analyst reports. Citigroup raised their target price on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. JMP Securities restated a “market outperform” rating and issued a $84.00 target price on shares of DocuSign in a report on Thursday, September 5th. Robert W. Baird increased their target price on shares of DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Royal Bank of Canada lifted their price target on shares of DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research note on Friday, September 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a report on Friday, September 6th.

Insider Activity at DocuSign

In other news, CFO Blake Jeffrey Grayson sold 14,036 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $55.47, for a total transaction of $778,576.92. Following the transaction, the chief financial officer now owns 87,611 shares of the company’s stock, valued at $4,859,782.17. This represents a 13.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Allan C. Thygesen sold 7,764 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $69.95, for a total value of $543,091.80. Following the transaction, the chief executive officer now owns 107,825 shares of the company’s stock, valued at $7,542,358.75. The trade was a 6.72 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,558 shares of company stock worth $4,272,768. 1.66% of the stock is owned by company insiders.

Institutional Investors Weigh In On DocuSign

Institutional investors have recently added to or reduced their stakes in the business. Massmutual Trust Co. FSB ADV boosted its stake in DocuSign by 5,000.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after purchasing an additional 500 shares during the period. Itau Unibanco Holding S.A. bought a new position in shares of DocuSign in the third quarter valued at approximately $28,000. Mather Group LLC. boosted its position in shares of DocuSign by 4,338.5% in the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock valued at $31,000 after acquiring an additional 564 shares during the period. Brooklyn Investment Group purchased a new position in DocuSign during the third quarter valued at approximately $33,000. Finally, Reston Wealth Management LLC bought a new stake in DocuSign during the 3rd quarter worth approximately $47,000. 77.64% of the stock is owned by hedge funds and other institutional investors.

DocuSign Trading Down 0.9 %

Shares of NASDAQ:DOCU opened at $78.81 on Thursday. The firm has a 50 day moving average of $68.00 and a 200-day moving average of $59.80. DocuSign has a 12 month low of $42.12 and a 12 month high of $83.68. The stock has a market capitalization of $16.00 billion, a PE ratio of 16.63, a PEG ratio of 8.37 and a beta of 0.90.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The company had revenue of $736.03 million during the quarter, compared to analysts’ expectations of $727.20 million. During the same period in the prior year, the company earned $0.09 EPS. DocuSign’s revenue was up 7.0% compared to the same quarter last year. On average, research analysts predict that DocuSign will post 1.01 EPS for the current fiscal year.

About DocuSign

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.