Docusign Inc (DOCU) Given Consensus Rating of “Hold” by Brokerages

Shares of Docusign Inc (NASDAQ:DOCU) have earned a consensus recommendation of “Hold” from the eleven analysts that are currently covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $60.22.

DOCU has been the subject of a number of research reports. Zacks Investment Research downgraded Docusign from a “hold” rating to a “sell” rating in a research note on Monday, October 1st. Bank of America lifted their price target on Docusign from $63.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, September 6th. Morgan Stanley lifted their price target on Docusign from $46.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 6th. Wedbush initiated coverage on Docusign in a research note on Thursday, October 18th. They issued a “neutral” rating and a $45.00 price target for the company. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $88.00 price target on shares of Docusign in a research note on Thursday, September 6th.

Shares of NASDAQ DOCU traded down $1.37 during midday trading on Tuesday, reaching $39.00. 1,612,303 shares of the company’s stock were exchanged, compared to its average volume of 2,039,862. Docusign has a 52-week low of $37.00 and a 52-week high of $68.35.

Docusign (NASDAQ:DOCU) last posted its quarterly earnings results on Wednesday, September 5th. The company reported $0.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.02. The firm had revenue of $167.04 million during the quarter, compared to analyst estimates of $158.70 million. The company’s revenue for the quarter was up 33.1% compared to the same quarter last year. Equities research analysts anticipate that Docusign will post -2.46 earnings per share for the current year.

In other Docusign news, Director Peter Solvik sold 1,304,348 shares of Docusign stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $55.00, for a total value of $71,739,140.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

A number of hedge funds have recently modified their holdings of DOCU. Bain Capital Public Equity Management LLC acquired a new position in Docusign in the second quarter valued at approximately $343,705,000. KPCB DGF Associates LLC acquired a new position in Docusign in the second quarter valued at approximately $163,591,000. FMR LLC acquired a new position in Docusign in the second quarter valued at approximately $158,068,000. American Century Companies Inc. acquired a new position in Docusign in the third quarter valued at approximately $103,254,000. Finally, Wasatch Advisors Inc. acquired a new position in Docusign in the second quarter valued at approximately $86,763,000. Institutional investors own 35.55% of the company’s stock.

Docusign Company Profile

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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