DocuSign’s (DOCU) Sector Perform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada restated their sector perform rating on shares of DocuSign (NASDAQ:DOCU) in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a $90.00 price objective on the stock.

DOCU has been the subject of several other reports. Robert W. Baird increased their price target on shares of DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Jefferies Financial Group increased their price target on shares of DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. UBS Group cut their price target on shares of DocuSign from $100.00 to $90.00 and set a “neutral” rating for the company in a report on Friday. Wedbush reissued a “neutral” rating and set a $100.00 price target on shares of DocuSign in a report on Friday. Finally, JPMorgan Chase & Co. raised shares of DocuSign from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $70.00 to $75.00 in a report on Monday, March 10th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $95.58.

DocuSign Stock Performance

Shares of DOCU opened at $85.76 on Friday. DocuSign has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The company 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. The firm has a 50-day simple moving average of $87.97 and a 200-day simple moving average of $79.52.

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

Insider Buying and Selling at DocuSign

In related news, Director Peter Solvik sold 10,000 shares of DocuSign stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $91.26, for a total transaction of $912,600.00. Following the completion of the transaction, the director now directly owns 150,253 shares in the company, valued at $13,712,088.78. The trade was a 6.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of DocuSign stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $86.90, for a total value of $695,200.00. Following the transaction, the chief financial officer now owns 77,851 shares of the company’s stock, valued at $6,765,251.90. This represents a 9.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 95,888 shares of company stock valued at $8,856,718. Corporate insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Kestra Investment Management LLC acquired a new position in shares of DocuSign during the 4th quarter worth approximately $30,000. First Horizon Advisors Inc. raised its position in shares of DocuSign by 102.6% during the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock worth $36,000 after purchasing an additional 201 shares during the last quarter. Modus Advisors LLC acquired a new position in shares of DocuSign during the 4th quarter worth approximately $36,000. Wood Tarver Financial Group LLC acquired a new position in shares of DocuSign during the 4th quarter worth approximately $37,000. Finally, McIlrath & Eck LLC raised its position in shares of DocuSign by 476.0% during the 4th quarter. McIlrath & Eck LLC now owns 432 shares of the company’s stock worth $39,000 after purchasing an additional 357 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

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.