Docusign (DOCU) Research Coverage Started at Goldman Sachs Group

Goldman Sachs Group initiated coverage on shares of Docusign (NASDAQ:DOCU) in a report published on Thursday, Marketbeat Ratings reports. The brokerage issued a neutral rating and a $45.00 target price on the stock.

Other equities research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. reaffirmed an overweight rating and set a $88.00 price target on shares of Docusign in a research note on Thursday, September 6th. Wedbush assumed coverage on shares of Docusign in a research note on Thursday, October 18th. They set a neutral rating and a $45.00 price target on the stock. Deutsche Bank dropped their price target on shares of Docusign to $50.00 and set a hold rating on the stock in a research note on Friday, December 7th. Morgan Stanley reaffirmed a hold rating on shares of Docusign in a research note on Sunday, December 9th. Finally, Piper Jaffray Companies reaffirmed an overweight rating and set a $50.00 price target on shares of Docusign in a research note on Friday, December 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $58.27.

Docusign stock opened at $42.89 on Thursday. Docusign has a 12-month low of $35.06 and a 12-month high of $68.35. The company has a current ratio of 2.91, a quick ratio of 2.48 and a debt-to-equity ratio of 0.53.

Docusign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, December 6th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.07). The company had revenue of $178.39 million for the quarter, compared to analysts’ expectations of $173.55 million. The company’s quarterly revenue was up 36.6% on a year-over-year basis. On average, analysts expect that Docusign will post -2.5 earnings per share for the current fiscal year.

In other news, insider William Neil Hudspith sold 37,500 shares of the business’s stock in a transaction dated Tuesday, December 11th. The shares were sold at an average price of $40.75, for a total value of $1,528,125.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter Solvik sold 1,304,348 shares of the business’s stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $55.00, for a total transaction of $71,739,140.00. The disclosure for this sale can be found here.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can acquired a new position in shares of Docusign in the 2nd quarter valued at about $145,000. Massachusetts Financial Services Co. MA acquired a new position in shares of Docusign in the 2nd quarter valued at about $936,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Docusign in the 2nd quarter valued at about $2,699,000. TD Asset Management Inc. acquired a new position in shares of Docusign in the 2nd quarter valued at about $1,059,000. Finally, Commonwealth Equity Services LLC acquired a new position in shares of Docusign in the 2nd quarter valued at about $458,000. 39.06% of the stock is owned by institutional investors.

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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