Docusign (DOCU) Given New $52.00 Price Target at Morgan Stanley

Docusign (NASDAQ:DOCU) had its target price boosted by Morgan Stanley from $49.00 to $52.00 in a research report report published on Friday morning. They currently have an equal weight rating on the stock.

A number of other brokerages have also commented on DOCU. Deutsche Bank cut their price objective on shares of Docusign to $50.00 and set a hold rating for the company in a research report on Friday. Piper Jaffray Companies reaffirmed an overweight rating and set a $50.00 price objective on shares of Docusign in a research report on Friday. Zacks Investment Research raised shares of Docusign from a sell rating to a hold rating in a research report on Friday, November 9th. Wedbush initiated coverage on shares of Docusign in a research report on Thursday, October 18th. They set a neutral rating and a $45.00 price objective for the company. Finally, Bank of America upped their price objective on shares of Docusign from $63.00 to $64.00 and gave the company a neutral rating in a research report on Thursday, September 6th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $59.60.

Docusign stock traded down $2.11 on Friday, reaching $39.66. 4,742,188 shares of the stock were exchanged, compared to its average volume of 1,618,441. Docusign has a twelve month low of $35.06 and a twelve month high of $68.35.

Docusign (NASDAQ:DOCU) last released its earnings results on Thursday, December 6th. The company reported ($0.30) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.07). The business had revenue of $178.39 million for the quarter, compared to analysts’ expectations of $173.55 million. Docusign’s revenue for the quarter was up 36.6% on a year-over-year basis. Equities analysts forecast that Docusign will post -2.46 earnings per share for the current fiscal year.

In related news, Director Peter Solvik sold 1,304,348 shares of the company’s stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $55.00, for a total value of $71,739,140.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Marshall Wace North America L.P. increased its stake in Docusign by 142.0% in the third quarter. Marshall Wace North America L.P. now owns 42,183 shares of the company’s stock valued at $2,218,000 after acquiring an additional 24,751 shares during the period. Clearbridge Investments LLC increased its stake in Docusign by 9.0% in the third quarter. Clearbridge Investments LLC now owns 318,950 shares of the company’s stock valued at $16,767,000 after acquiring an additional 26,350 shares during the period. Vanguard Group Inc. increased its stake in Docusign by 3.7% in the third quarter. Vanguard Group Inc. now owns 1,922,947 shares of the company’s stock valued at $101,089,000 after acquiring an additional 69,428 shares during the period. Morgan Stanley increased its stake in Docusign by 539.1% in the third quarter. Morgan Stanley now owns 1,148,284 shares of the company’s stock valued at $60,366,000 after acquiring an additional 968,599 shares during the period. Finally, Legal & General Group Plc increased its stake in Docusign by 64.1% in the third quarter. Legal & General Group Plc now owns 65,008 shares of the company’s stock valued at $3,416,000 after acquiring an additional 25,384 shares during the period. 39.06% of the stock is currently owned by institutional investors and hedge funds.

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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