Jefferies Financial Group Cuts DocuSign (NASDAQ:DOCU) Price Target to $105.00

DocuSign (NASDAQ:DOCU) had its price target reduced by Jefferies Financial Group from $115.00 to $105.00 in a research report released on Monday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also weighed in on the stock. HSBC reissued a “reduce” rating on shares of DocuSign in a research report on Friday, December 6th. JMP Securities reiterated a “market outperform” rating and set a $124.00 target price on shares of DocuSign in a research report on Tuesday, January 7th. Royal Bank of Canada reiterated a “sector perform” rating and set a $90.00 price objective on shares of DocuSign in a report on Friday, March 14th. JPMorgan Chase & Co. upgraded shares of DocuSign from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $70.00 to $75.00 in a report on Monday, March 10th. Finally, Morgan Stanley upped their price target on DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, DocuSign currently has an average rating of “Hold” and a consensus price target of $95.83.

DocuSign Stock Up 0.9 %

NASDAQ:DOCU opened at $83.40 on Monday. DocuSign has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The stock has a market cap of $16.89 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02. The firm’s fifty day simple moving average is $86.67 and its 200-day simple moving average is $81.91.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings data on Thursday, March 13th. The company reported $0.86 EPS for the quarter, topping the consensus estimate 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 net margin of 34.73% and a return on equity of 14.90%. The business’s revenue for the quarter 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. Equities analysts anticipate that DocuSign will post 1.17 earnings per share for the current year.

Insider Transactions at DocuSign

In related news, Director Peter Solvik sold 10,000 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $91.26, for a total transaction of $912,600.00. Following the transaction, the director now directly owns 150,253 shares in the company, valued at $13,712,088.78. This trade represents a 6.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $86.90, for a total transaction of $695,200.00. Following the sale, the chief financial officer now owns 77,851 shares of the company’s stock, valued at approximately $6,765,251.90. The trade was a 9.32 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,851 shares of company stock valued at $4,911,319. Insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On DocuSign

A number of large investors have recently bought and sold shares of the business. Kera Capital Partners Inc. grew its holdings in shares of DocuSign by 13.0% during the first quarter. Kera Capital Partners Inc. now owns 3,607 shares of the company’s stock valued at $294,000 after purchasing an additional 416 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in DocuSign by 153.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 453 shares of the company’s stock valued at $37,000 after purchasing an additional 274 shares during the period. Wellington Management Group LLP grew its stake in DocuSign by 1,054.0% during the 4th quarter. Wellington Management Group LLP now owns 386,680 shares of the company’s stock worth $34,778,000 after buying an additional 353,172 shares during the last quarter. Mascagni Wealth Management Inc. acquired a new stake in DocuSign in the fourth quarter worth $154,000. Finally, 111 Capital bought a new stake in DocuSign in the fourth quarter valued at $1,721,000. Institutional investors own 77.64% of the company’s stock.

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.