Brokerages Set DocuSign, Inc. (NASDAQ:DOCU) Price Target at $62.93

Posted by Defense World Staff on Jul 13th, 2023

DocuSign, Inc. (NASDAQ:DOCU – Get Free Report) has been given a consensus rating of “Hold” by the thirteen analysts that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $62.93.

Several research firms have recently issued reports on DOCU. JPMorgan Chase & Co. increased their price target on DocuSign from $48.00 to $50.00 in a research note on Friday, June 9th. UBS Group decreased their price target on DocuSign from $52.00 to $45.00 in a research note on Wednesday, May 31st. Piper Sandler increased their price objective on shares of DocuSign from $60.00 to $61.00 in a report on Friday, June 9th. Morgan Stanley decreased their price objective on shares of DocuSign from $54.00 to $49.00 in a report on Tuesday, June 27th. Finally, Citigroup decreased their price objective on shares of DocuSign from $80.00 to $73.00 in a report on Wednesday, June 7th.

DocuSign Trading Up 0.1 %

Shares of NASDAQ DOCU opened at $51.80 on Monday. DocuSign has a twelve month low of $39.57 and a twelve month high of $77.24. The company has a market capitalization of $10.48 billion, a price-to-earnings ratio of -148.00, a price-to-earnings-growth ratio of 11.25 and a beta of 0.91. The business has a 50 day simple moving average of $52.79 and a 200-day simple moving average of $55.97.

DocuSign (NASDAQ:DOCU – Get Free Report) last issued its quarterly earnings data on Thursday, June 8th. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.16. DocuSign had a positive return on equity of 3.70% and a negative net margin of 2.69%. The firm had revenue of $661.39 million during the quarter, compared to the consensus estimate of $641.69 million. During the same period in the prior year, the business earned ($0.12) EPS. The firm’s revenue was up 12.3% on a year-over-year basis. As a group, equities analysts predict that DocuSign will post 0.33 earnings per share for the current year.

Insider Activity

In related news, Director Enrique T. Salem sold 2,500 shares of the company’s stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $50.02, for a total value of $125,050.00. Following the sale, the director now owns 156,140 shares of the company’s stock, valued at $7,810,122.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other DocuSign news, insider Stephen Shute sold 100,315 shares of the company’s stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $49.20, for a total transaction of $4,935,498.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Enrique T. Salem sold 2,500 shares of the stock in a transaction on Friday, July 7th. The stock was sold at an average price of $50.02, for a total value of $125,050.00. Following the sale, the director now owns 156,140 shares in the company, valued at approximately $7,810,122.80. The disclosure for this sale can be found here. 17.80% of the stock is currently owned by company insiders.

Institutional Trading of DocuSign

Several large investors have recently made changes to their positions in DOCU. MetLife Investment Management LLC bought a new position in DocuSign in the first quarter valued at about $1,337,000. Raymond James Trust N.A. boosted its holdings in DocuSign by 27.3% during the first quarter. Raymond James Trust N.A. now owns 4,206 shares of the company’s stock worth $450,000 after buying an additional 901 shares during the last quarter. Sei Investments Co. boosted its holdings in DocuSign by 21.8% during the first quarter. Sei Investments Co. now owns 177,214 shares of the company’s stock worth $18,934,000 after buying an additional 31,769 shares during the last quarter. National Pension Service boosted its holdings in DocuSign by 25.9% during the first quarter. National Pension Service now owns 347,633 shares of the company’s stock worth $37,238,000 after buying an additional 71,449 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of DocuSign by 20.3% during the first quarter. Vanguard Group Inc. now owns 17,308,877 shares of the company’s stock worth $1,854,127,000 after purchasing an additional 2,917,683 shares in the last quarter. Institutional investors own 76.03% of the company’s stock.

About DocuSign

(Get Free Report

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides DocuSign 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; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.