DocuSign (NASDAQ:DOCU) Stock Rating Upgraded by William Blair

William Blair upgraded shares of DocuSign (NASDAQ:DOCU) from a market perform rating to an outperform rating in a report published on Monday morning, MarketBeat Ratings reports.

Other research analysts have also issued reports about the company. Piper Sandler boosted their target price on DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Wells Fargo & Company boosted their target price on DocuSign from $70.00 to $73.00 and gave the stock an “underweight” rating in a report on Friday, March 14th. Citigroup upped their price objective on DocuSign from $113.00 to $115.00 and gave the company a “buy” rating in a report on Friday, March 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a report on Friday, March 14th. Finally, JPMorgan Chase & Co. raised DocuSign from an “underweight” rating to a “neutral” rating and upped their price objective for the company 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 four have given a buy rating to the company. According to MarketBeat.com, DocuSign presently has an average rating of “Hold” and a consensus target price of $95.00.

DocuSign Trading Up 0.7 %

DOCU stock opened at $85.61 on Monday. The firm has a market capitalization of $17.30 billion, a PE ratio of 17.65, a PEG ratio of 6.94 and a beta of 1.02. DocuSign has a 1-year low of $48.70 and a 1-year high of $107.86. The business’s 50 day simple moving average is $87.67 and its 200 day simple moving average is $79.91.

DocuSign (NASDAQ:DOCU) last posted its earnings results 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. The business had revenue of $776.25 million for the quarter, compared to analyst estimates of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The firm’s revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.76 EPS. As a group, sell-side analysts predict that DocuSign will post 1.17 EPS for the current fiscal year.

Insider Activity

In other news, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $87.41, for a total transaction of $46,676.94. Following the completion of the sale, the director now directly owns 8,270 shares in the company, valued at approximately $722,880.70. This represents a 6.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Allan C. Thygesen sold 40,000 shares of the company’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 sale, the chief executive officer now owns 156,050 shares of the company’s stock, valued at approximately $14,050,742. This represents a 20.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 66,034 shares of company stock worth $5,932,352. 1.66% of the stock is currently owned by company insiders.

Institutional Trading of DocuSign

Several institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC lifted its position in shares of DocuSign by 178.2% during the 4th quarter. FMR LLC now owns 6,101,024 shares of the company’s stock worth $548,726,000 after buying an additional 3,908,139 shares during the last quarter. State Street Corp lifted its position in shares of DocuSign by 2.3% during the 3rd quarter. State Street Corp now owns 5,372,939 shares of the company’s stock worth $333,604,000 after buying an additional 120,743 shares during the last quarter. American Century Companies Inc. lifted its position in shares of DocuSign by 18.5% during the 4th quarter. American Century Companies Inc. now owns 5,315,459 shares of the company’s stock worth $478,072,000 after buying an additional 831,611 shares during the last quarter. Jericho Capital Asset Management L.P. lifted its position in shares of DocuSign by 34.0% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 4,754,753 shares of the company’s stock worth $427,642,000 after buying an additional 1,205,500 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in DocuSign by 4.9% in the 4th quarter. Renaissance Technologies LLC now owns 4,363,292 shares of the company’s stock worth $392,434,000 after purchasing an additional 205,304 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors.

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.