Analysts Set Docusign Inc (DOCU) Target Price at $58.63

Docusign Inc (NASDAQ:DOCU) has received an average rating of “Buy” from the ten ratings firms that are presently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $58.63.

A number of brokerages recently commented on DOCU. Citigroup raised their price target on Docusign from $59.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, June 8th. JMP Securities raised their price target on Docusign from $52.00 to $63.00 and gave the stock a “market outperform” rating in a research report on Friday, June 8th. Deutsche Bank raised their price target on Docusign from $45.00 to $50.00 and gave the stock a “hold” rating in a research report on Friday, June 8th. Piper Jaffray Companies began coverage on Docusign in a research report on Tuesday, May 22nd. They issued an “overweight” rating and a $52.00 price target on the stock. Finally, William Blair began coverage on Docusign in a research report on Tuesday, May 22nd. They issued an “outperform” rating on the stock.

Shares of NASDAQ DOCU traded down $2.25 during mid-day trading on Friday, reaching $58.20. The company had a trading volume of 1,525,105 shares, compared to its average volume of 1,132,651. Docusign has a one year low of $37.00 and a one year high of $66.80.

Docusign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, June 7th. The company reported $0.01 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.14. The company had revenue of $155.81 million during the quarter, compared to the consensus estimate of $145.87 million. The business’s quarterly revenue was up 37.3% compared to the same quarter last year. equities analysts anticipate that Docusign will post -2.29 EPS for the current year.

Large investors have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC acquired a new stake in Docusign in the second quarter valued at about $131,000. Bank of Montreal Can acquired a new stake in Docusign in the second quarter valued at about $145,000. State of Alaska Department of Revenue acquired a new stake in Docusign in the second quarter valued at about $160,000. Westpac Banking Corp acquired a new stake in Docusign in the second quarter valued at about $193,000. Finally, Keybank National Association OH acquired a new stake in Docusign in the second quarter valued at about $245,000. 2.48% of the stock is currently owned by institutional investors and hedge funds.

About Docusign

DocuSign, Inc provides cloud based transaction products and services in the United States. The company offers e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. It serves large enterprises, sole proprietorships, small- to medium-sized businesses, professionals, and individuals.

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Analyst Recommendations for Docusign (NASDAQ:DOCU)

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