DocuSign (NASDAQ:DOCU) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

DocuSign (NASDAQ:DOCU) had its price objective boosted by equities researchers at Jefferies Financial Group from $80.00 to $95.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Jefferies Financial Group’s target price would indicate a potential upside of 17.95% from the company’s current price.

Other analysts also recently issued reports about the company. Bank of America raised their price target on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Wells Fargo & Company upped their price objective on shares of DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Royal Bank of Canada boosted their price target on DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a report on Friday, September 6th. Finally, Robert W. Baird boosted their target price on shares of DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $68.45.

DocuSign Stock Performance

DOCU traded up $0.28 during trading hours on Tuesday, reaching $80.54. The company’s stock had a trading volume of 153,708 shares, compared to its average volume of 2,858,009. DocuSign has a 52 week low of $44.34 and a 52 week high of $86.75. The firm has a market cap of $16.35 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 8.25 and a beta of 0.92. The company’s 50-day moving average is $72.42 and its 200-day moving average is $61.22.

DocuSign (NASDAQ:DOCU) last announced its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.17. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The firm had revenue of $736.03 million during the quarter, compared to analyst estimates of $727.20 million. During the same period last year, the firm posted $0.09 EPS. The business’s revenue was up 7.0% compared to the same quarter last year. Equities analysts anticipate that DocuSign will post 1.03 earnings per share for the current fiscal year.

Insider Activity at DocuSign

In other DocuSign news, Director Teresa Briggs sold 534 shares of the company’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 transaction, the director now directly owns 7,202 shares in the company, valued at approximately $407,345.12. This represents a 6.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Blake Jeffrey Grayson sold 14,036 shares of DocuSign stock in a transaction on Wednesday, September 18th. The shares were 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 in the company, valued at $4,859,782.17. The trade was a 13.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,833 shares of company stock valued at $3,816,297. Corporate 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 DOCU. Comerica Bank lifted its stake in DocuSign by 228.8% in the first quarter. Comerica Bank now owns 28,901 shares of the company’s stock valued at $1,721,000 after buying an additional 20,110 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of DocuSign by 455.7% in the 1st quarter. Cetera Investment Advisers now owns 45,709 shares of the company’s stock valued at $2,722,000 after purchasing an additional 37,484 shares during the last quarter. Cetera Advisors LLC grew its stake in shares of DocuSign by 38.0% in the 1st quarter. Cetera Advisors LLC now owns 12,866 shares of the company’s stock valued at $766,000 after buying an additional 3,542 shares during the period. Massmutual Trust Co. FSB ADV grew its stake in shares of 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 acquiring an additional 500 shares in the last quarter. Finally, DNB Asset Management AS grew its holdings in DocuSign by 16.1% during the second quarter. DNB Asset Management AS now owns 33,600 shares of the company’s stock valued at $1,798,000 after purchasing an additional 4,668 shares during the period. Institutional investors own 77.64% of the company’s stock.

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.