DocuSign (NASDAQ:DOCU) Hits New 1-Year High After Analyst Upgrade

DocuSign, Inc. (NASDAQ:DOCU)’s share price reached a new 52-week high on Monday after JMP Securities raised their price target on the stock from $84.00 to $108.00. JMP Securities currently has a market outperform rating on the stock. DocuSign traded as high as $84.50 and last traded at $84.50, with a volume of 6562 shares traded. The stock had previously closed at $83.03.

Several other equities research analysts have also recently weighed in on the company. Bank of America upped their target price on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Royal Bank of Canada increased their target price on shares of DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a report on Friday, September 6th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Wells Fargo & Company increased their price objective on shares of DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Finally, Robert W. Baird boosted their price objective 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. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $65.80.

Insider Activity

In other news, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $56.56, for a total transaction of $30,203.04. Following the completion of the sale, the director now owns 7,202 shares of the company’s stock, valued at $407,345.12. The trade was a 6.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Allan C. Thygesen sold 7,764 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $69.95, for a total transaction of $543,091.80. Following the completion of the transaction, the chief executive officer now directly owns 107,825 shares in the company, valued at $7,542,358.75. This represents a 6.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,558 shares of company stock valued at $4,272,768 in the last three months. 1.66% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DocuSign

A number of institutional investors and hedge funds have recently bought and sold shares of DOCU. Tidal Investments LLC grew its holdings in shares of DocuSign by 62.8% in the third quarter. Tidal Investments LLC now owns 44,946 shares of the company’s stock valued at $2,791,000 after purchasing an additional 17,339 shares during the period. Optimist Retirement Group LLC boosted its holdings in DocuSign by 3.8% in the 3rd quarter. Optimist Retirement Group LLC now owns 4,416 shares of the company’s stock valued at $274,000 after purchasing an additional 161 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of DocuSign in the 3rd quarter valued at approximately $51,000. World Investment Advisors LLC acquired a new stake in shares of DocuSign during the 3rd quarter worth approximately $2,314,000. Finally, Toronto Dominion Bank raised its position in shares of DocuSign by 30.3% during the 3rd quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock valued at $1,624,000 after buying an additional 6,081 shares during the period. 77.64% of the stock is currently owned by institutional investors and hedge funds.

DocuSign Price Performance

The business has a fifty day moving average of $70.04 and a 200 day moving average of $60.46. The stock has a market capitalization of $17.36 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 8.79 and a beta of 0.90.

DocuSign (NASDAQ:DOCU) last posted its 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 net margin of 34.56% and a return on equity of 16.18%. The company had revenue of $736.03 million for the quarter, compared to analysts’ expectations of $727.20 million. During the same quarter in the prior year, the company posted $0.09 earnings per share. DocuSign’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, equities research analysts expect that DocuSign, Inc. will post 1.01 EPS for the current year.

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.