DocuSign’s (DOCU) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of DocuSign (NASDAQ:DOCU) in a research report released on Friday,Benzinga reports.

A number of other brokerages have also recently weighed in on DOCU. JPMorgan Chase & Co. upgraded DocuSign from an “underweight” rating to a “neutral” rating and raised their price target for the company from $70.00 to $75.00 in a research report on Monday, March 10th. JMP Securities restated a “market outperform” rating and issued a $124.00 price target on shares of DocuSign in a research report on Tuesday, January 7th. Royal Bank of Canada restated a “sector perform” rating and issued a $90.00 price target (up previously from $57.00) on shares of DocuSign in a research report on Friday, December 6th. Hsbc Global Res upgraded DocuSign to a “moderate sell” rating in a research report on Friday, December 6th. Finally, Morgan Stanley raised their price target on DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $95.58.

DocuSign Price Performance

Shares of DOCU stock opened at $85.76 on Friday. The business’s fifty day moving average price is $87.97 and its 200 day moving average price is $79.52. DocuSign has a 1-year low of $48.70 and a 1-year high of $107.86. The firm has a market capitalization of $17.33 billion, a PE 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 for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The firm had revenue of $776.25 million for the quarter, compared to analyst estimates of $760.94 million. During the same quarter in the prior year, the company posted $0.76 earnings per share. DocuSign’s quarterly revenue was up 9.0% on a year-over-year basis. Equities research analysts expect that DocuSign will post 1.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other DocuSign news, CFO Blake Jeffrey Grayson sold 8,000 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $86.90, for a total value of $695,200.00. Following the sale, the chief financial officer now directly owns 77,851 shares of the company’s stock, valued at approximately $6,765,251.90. This trade represents a 9.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Allan C. Thygesen sold 40,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total value of $3,601,600.00. Following the completion of the sale, the chief executive officer now directly owns 156,050 shares in the company, valued at approximately $14,050,742. The trade was a 20.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 95,888 shares of company stock valued at $8,856,718. Insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On DocuSign

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wood Tarver Financial Group LLC acquired a new position in shares of DocuSign in the 4th quarter valued at about $37,000. Audent Global Asset Management LLC lifted its stake in shares of DocuSign by 382.6% in the 4th quarter. Audent Global Asset Management LLC now owns 27,425 shares of the company’s stock valued at $2,467,000 after purchasing an additional 21,742 shares in the last quarter. Siemens Fonds Invest GmbH acquired a new position in shares of DocuSign in the 4th quarter valued at about $772,000. Fluent Financial LLC acquired a new position in shares of DocuSign in the 4th quarter valued at about $694,000. Finally, Total Wealth Planning & Management Inc. acquired a new position in shares of DocuSign in the 4th quarter valued at about $312,000. 77.64% of the stock is 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.