DocuSign (NASDAQ:DOCU) Earns “Sector Perform” Rating from Royal Bank of Canada

DocuSign (NASDAQ:DOCU)‘s stock had its “sector perform” rating reiterated by stock analysts at Royal Bank of Canada in a research report issued on Friday,Benzinga reports. They currently have a $90.00 price target on the stock, up from their previous price target of $57.00. Royal Bank of Canada’s target price would suggest a potential downside of 10.82% from the stock’s previous close.

Several other analysts have also issued reports on DOCU. Wells Fargo & Company upped their target price on DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research note on Friday. Robert W. Baird increased their price objective on DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday. JMP Securities increased their price objective on DocuSign from $108.00 to $124.00 and gave the company a “market outperform” rating in a research note on Friday. JPMorgan Chase & Co. increased their price objective on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research note on Tuesday. Finally, Jefferies Financial Group increased their price objective on DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $83.45.

DocuSign Stock Up 20.6 %

Shares of DOCU stock traded up $17.24 during trading on Friday, hitting $100.92. The company had a trading volume of 3,165,093 shares, compared to its average volume of 2,873,228. The stock’s 50-day moving average is $73.75 and its two-hundred day moving average is $61.68. The stock has a market capitalization of $20.48 billion, a price-to-earnings ratio of 21.29, a price-to-earnings-growth ratio of 8.33 and a beta of 0.92. DocuSign has a 52 week low of $44.34 and a 52 week high of $101.57.

DocuSign (NASDAQ:DOCU) last issued its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.17. The business had revenue of $736.03 million during the quarter, compared to analyst estimates of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. DocuSign’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.09 earnings per share. On average, research analysts predict that DocuSign will post 1.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Robert Chatwani sold 14,799 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $55.46, for a total transaction of $820,752.54. Following the completion of the transaction, the insider now directly owns 70,748 shares in the company, valued at $3,923,684.08. This trade represents a 17.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Allan C. Thygesen sold 7,763 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $80.54, for a total value of $625,232.02. Following the transaction, the chief executive officer now owns 100,062 shares of the company’s stock, valued at $8,058,993.48. The trade was a 7.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,596 shares of company stock worth $4,441,529. 1.66% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DocuSign

Institutional investors and hedge funds have recently modified their holdings of the stock. Itau Unibanco Holding S.A. bought a new position in shares of DocuSign during the third quarter valued at $28,000. Mather Group LLC. boosted its position in shares of DocuSign by 4,338.5% during the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock valued at $31,000 after buying an additional 564 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of DocuSign during the third quarter valued at $33,000. Reston Wealth Management LLC purchased a new stake in shares of DocuSign during the third quarter valued at $47,000. Finally, nVerses Capital LLC purchased a new stake in shares of DocuSign during the second quarter valued at $48,000. 77.64% of the stock is currently owned by institutional investors.

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.