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

DocuSign (NASDAQ:DOCU)‘s stock had its “sector perform” rating restated by Royal Bank of Canada in a research report issued on Friday,Benzinga reports. They presently have a $90.00 target price on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 2.08% from the stock’s previous close.

Several other equities analysts also recently issued reports on DOCU. JMP Securities reissued a “market outperform” rating and set a $124.00 price target on shares of DocuSign in a report on Tuesday, January 7th. Piper Sandler raised their target price on DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Jefferies Financial Group raised their price target on DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Robert W. Baird upped their price target on shares of DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Bank of America lowered their price target on DocuSign from $112.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $95.42.

DocuSign Stock Up 18.0 %

Shares of NASDAQ DOCU traded up $13.46 on Friday, hitting $88.16. The company had a trading volume of 6,646,546 shares, compared to its average volume of 2,282,055. DocuSign has a 12-month low of $48.70 and a 12-month high of $107.86. The firm has a market capitalization of $17.81 billion, a P/E ratio of 18.17, a PEG ratio of 6.94 and a beta of 1.02. The business has a 50 day moving average of $88.06 and a two-hundred day moving average of $79.04.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $760.94 million. During the same period last year, the business earned $0.76 EPS. The business’s revenue was up 9.0% on a year-over-year basis. On average, sell-side analysts anticipate that DocuSign will post 1.17 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Allan C. Thygesen sold 40,000 shares of the business’s stock in a transaction on 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 $14,050,742. The trade was a 20.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Robert Chatwani sold 14,800 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $97.76, for a total transaction of $1,446,848.00. Following the completion of the sale, the insider now owns 73,414 shares in the company, valued at approximately $7,176,952.64. The trade was a 16.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 104,422 shares of company stock valued at $9,665,394 in the last 90 days. 1.66% of the stock is owned by insiders.

Institutional Investors Weigh In On DocuSign

Several hedge funds have recently added to or reduced their stakes in the business. Wood Tarver Financial Group LLC acquired a new stake in shares of DocuSign in the 4th quarter worth about $37,000. Audent Global Asset Management LLC lifted its holdings in shares of DocuSign by 382.6% in the fourth 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 purchased a new position in shares of DocuSign during the fourth quarter valued at approximately $772,000. Fluent Financial LLC bought a new stake in DocuSign during the fourth quarter worth $694,000. Finally, Total Wealth Planning & Management Inc. purchased a new stake in DocuSign in the 4th quarter valued at $312,000. 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.