DocuSign (NASDAQ:DOCU – Get Free Report) had its price target lifted by investment analysts at Morgan Stanley from $49.00 to $51.00 in a research note issued on Friday, MarketBeat.com reports. The brokerage currently has an “underweight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 1.57% from the stock’s previous close.
DOCU has been the topic of a number of other research reports. Robert W. Baird cut their price target on shares of DocuSign from $70.00 to $58.00 and set a “neutral” rating on the stock in a research note on Friday. 22nd Century Group reaffirmed a “maintains” rating on shares of DocuSign in a research note on Friday, June 9th. Bank of America cut their price target on shares of DocuSign from $72.00 to $60.00 in a research note on Friday. JPMorgan Chase & Co. lifted their price target on shares of DocuSign from $48.00 to $50.00 in a research note on Friday, June 9th. Finally, Piper Sandler lifted their price target on shares of DocuSign from $60.00 to $61.00 in a research note on Friday, June 9th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $61.79.
Read Our Latest Stock Report on DOCU
DocuSign Stock Performance
DocuSign (NASDAQ:DOCU – Get Free Report) last issued its quarterly earnings data on Thursday, September 7th. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.06. The firm had revenue of $687.69 million during the quarter, compared to analysts’ expectations of $677.56 million. DocuSign had a negative net margin of 0.64% and a positive return on equity of 12.39%. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.18) earnings per share. Analysts predict that DocuSign will post 0.35 earnings per share for the current fiscal year.
Insider Transactions at DocuSign
In other news, Director Enrique T. Salem sold 2,500 shares of the business’s stock in a transaction on 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other DocuSign news, Director Enrique T. Salem sold 2,500 shares of the company’s stock in a transaction on Friday, July 7th. The shares were sold at an average price of $50.02, for a total transaction of $125,050.00. Following the sale, the director now directly 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephen Shute sold 100,315 shares of the 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 disclosure for this sale can be found here. 17.80% of the stock is currently owned by insiders.
Hedge Funds Weigh In On DocuSign
Several large investors have recently modified their holdings of the stock. Private Advisor Group LLC bought a new position in DocuSign during the first quarter worth about $604,000. J.W. Cole Advisors Inc. bought a new position in DocuSign during the first quarter worth about $248,000. Tocqueville Asset Management L.P. increased its position in DocuSign by 50.4% during the fourth quarter. Tocqueville Asset Management L.P. now owns 279,870 shares of the company’s stock worth $15,510,000 after acquiring an additional 93,800 shares during the period. AustralianSuper Pty Ltd increased its position in DocuSign by 34.6% during the first quarter. AustralianSuper Pty Ltd now owns 288,739 shares of the company’s stock worth $16,833,000 after acquiring an additional 74,247 shares during the period. Finally, Prime Capital Investment Advisors LLC bought a new position in DocuSign during the first quarter worth about $357,000. 77.96% of the stock is owned by institutional investors.
DocuSign Company Profile
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.
Featured Stories
- Five stocks we like better than DocuSign
- How to Invest in EV Charging Stations
- MarketBeat Week in Review – 9/4 – 9/8
- How to Invest in Virtual Reality
- The Best 5 Small Cap AI Companies to Buy Now
- What Are Defense Contractor Stocks? How to Invest in Defense
- Miso Robotics Stock: Is an IPO Coming Soon?
Receive News & Ratings for DocuSign Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DocuSign and related companies with MarketBeat.com's FREE daily email newsletter.
