Docusign (NASDAQ:DOCU) Stock Rating Lowered by ValuEngine

Docusign (NASDAQ:DOCU) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, ValuEngine reports.

DOCU has been the subject of several other research reports. Deutsche Bank upgraded shares of Docusign from a “hold” rating to a “buy” rating and increased their target price for the stock from $50.00 to $65.00 in a report on Tuesday, February 12th. Piper Jaffray Companies increased their price target on shares of Docusign from $50.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, March 11th. Wedbush increased their price target on shares of Docusign from $48.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Finally, William Blair reiterated an “outperform” rating on shares of Docusign in a research note on Friday, June 7th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $61.50.

DOCU traded up $0.18 during trading hours on Wednesday, hitting $48.08. 1,578,500 shares of the company’s stock were exchanged, compared to its average volume of 2,389,609. Docusign has a 1-year low of $35.06 and a 1-year high of $68.35. The stock has a market capitalization of $8.30 billion, a price-to-earnings ratio of -16.58 and a beta of 1.77. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.71.

Docusign (NASDAQ:DOCU) last announced its earnings results on Thursday, June 6th. The company reported $0.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.30. Docusign had a negative net margin of 26.54% and a negative return on equity of 21.30%. The business had revenue of $213.96 million during the quarter, compared to analysts’ expectations of $208.15 million. During the same quarter in the prior year, the company posted $0.01 earnings per share. The firm’s revenue was up 37.3% on a year-over-year basis. As a group, research analysts predict that Docusign will post -1 earnings per share for the current fiscal year.

In other news, CRO Loren Alhadeff sold 8,717 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $56.04, for a total transaction of $488,500.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kirsten O. Wolberg sold 10,166 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $52.95, for a total transaction of $538,289.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,883 shares of company stock valued at $3,177,990. Corporate insiders own 13.60% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of DOCU. Sonora Investment Management LLC acquired a new stake in shares of Docusign during the 1st quarter worth about $31,000. Clean Yield Group acquired a new stake in shares of Docusign during the 1st quarter worth about $31,000. Parallel Advisors LLC lifted its stake in shares of Docusign by 244.1% during the 4th quarter. Parallel Advisors LLC now owns 905 shares of the company’s stock worth $36,000 after buying an additional 642 shares during the last quarter. Caz Investments LP lifted its stake in shares of Docusign by 86.6% during the 4th quarter. Caz Investments LP now owns 933 shares of the company’s stock worth $37,000 after buying an additional 433 shares during the last quarter. Finally, Legacy Advisors LLC acquired a new stake in shares of Docusign during the 1st quarter worth about $38,000. Institutional investors own 61.56% of the company’s stock.

Docusign Company Profile

DocuSign, Inc provides cloud based software in the United States. The company offers e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. The company sells its products through direct, partner-assisted, and Web-based sales. It serves enterprise businesses, commercial businesses, and small businesses, such as professionals, sole proprietorships and individuals.

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Analyst Recommendations for Docusign (NASDAQ:DOCU)

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