Docusign (DOCU) Lifted to Buy at Deutsche Bank

Docusign (NASDAQ:DOCU) was upgraded by equities researchers at Deutsche Bank from a “hold” rating to a “buy” rating in a report released on Tuesday, Marketbeat reports. The brokerage currently has a $65.00 price target on the stock, up from their previous price target of $50.00. Deutsche Bank’s price target points to a potential upside of 22.43% from the stock’s previous close.

A number of other brokerages have also recently weighed in on DOCU. Zacks Investment Research raised Docusign from a “sell” rating to a “hold” rating in a research report on Thursday, January 31st. KeyCorp began coverage on Docusign in a research report on Monday, January 28th. They issued an “overweight” rating and a $59.00 price target for the company. Wedbush began coverage on Docusign in a research report on Thursday, October 18th. They issued a “neutral” rating and a $45.00 price target for the company. Morgan Stanley raised Docusign from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $52.00 to $53.00 in a research report on Tuesday, January 15th. Finally, Goldman Sachs Group assumed coverage on Docusign in a research report on Thursday, December 13th. They issued a “neutral” rating and a $45.00 price target for the company. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $58.80.

Shares of NASDAQ:DOCU traded up $0.43 on Tuesday, reaching $53.09. The company had a trading volume of 1,807,147 shares, compared to its average volume of 2,282,569. Docusign has a twelve month low of $35.06 and a twelve month high of $68.35. The company has a quick ratio of 2.91, a current ratio of 2.91 and a debt-to-equity ratio of 0.53.

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

In related news, Director Mary G. Meeker sold 9,646 shares of the business’s stock in a transaction dated Friday, December 14th. The stock was sold at an average price of $42.98, for a total transaction of $414,585.08. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, 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 disclosure for this sale can be found here. Insiders have sold a total of 1,037,161 shares of company stock valued at $48,420,464 in the last three months.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Townsquare Capital LLC bought a new position in Docusign during the fourth quarter valued at about $356,000. JOYN Advisors Inc. bought a new position in Docusign during the fourth quarter valued at about $90,000. Brandywine Managers LLC bought a new position in Docusign during the fourth quarter valued at about $301,000. NumerixS Investment Technologies Inc bought a new position in Docusign during the fourth quarter valued at about $194,000. Finally, Highland Private Wealth Management bought a new position in Docusign during the fourth quarter valued at about $1,413,000. Hedge funds and other institutional investors own 37.31% 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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