Docusign Inc (NASDAQ:DOCU) Expected to Post Quarterly Sales of $241.30 Million

Equities research analysts expect that Docusign Inc (NASDAQ:DOCU) will announce $241.30 million in sales for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Docusign’s earnings, with estimates ranging from $238.96 million to $246.24 million. Docusign posted sales of $178.39 million during the same quarter last year, which suggests a positive year-over-year growth rate of 35.3%. The business is scheduled to issue its next quarterly earnings results after the market closes on Thursday, December 5th.

According to Zacks, analysts expect that Docusign will report full-year sales of $952.18 million for the current financial year, with estimates ranging from $948.88 million to $963.87 million. For the next fiscal year, analysts expect that the business will report sales of $1.19 billion, with estimates ranging from $1.16 billion to $1.23 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Docusign.

Docusign (NASDAQ:DOCU) last announced its earnings results on Thursday, September 5th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.24. Docusign had a negative return on equity of 26.70% and a negative net margin of 28.20%. The business had revenue of $235.61 million for the quarter, compared to analyst estimates of $220.81 million. During the same quarter last year, the firm earned $0.03 EPS. Docusign’s revenue for the quarter was up 41.0% compared to the same quarter last year.

DOCU has been the topic of a number of recent research reports. Danske initiated coverage on Docusign in a research report on Friday, August 16th. They issued a “buy” rating and a $52.00 target price on the stock. Citigroup lifted their target price on Docusign from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Wedbush lifted their target price on Docusign from $65.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Piper Jaffray Companies initiated coverage on Docusign in a research report on Friday, November 8th. They set a “neutral” rating and a $75.00 price target on the stock. Finally, Zacks Investment Research raised Docusign from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $70.25.

Docusign stock traded down $1.29 during midday trading on Wednesday, reaching $69.92. The stock had a trading volume of 2,258,603 shares, compared to its average volume of 2,529,673. The firm’s fifty day simple moving average is $67.51 and its 200-day simple moving average is $56.80. Docusign has a 1-year low of $36.25 and a 1-year high of $73.22. The stock has a market capitalization of $12.53 billion, a P/E ratio of -24.11 and a beta of 1.46. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.64 and a current ratio of 1.64.

In related news, COO Scott V. Olrich sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $66.69, for a total transaction of $133,380.00. Following the transaction, the chief operating officer now directly owns 497,770 shares of the company’s stock, valued at approximately $33,196,281.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Scott V. Olrich sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $58.98, for a total value of $235,920.00. Insiders have sold a total of 68,698 shares of company stock worth $4,184,489 in the last ninety days. Insiders own 13.60% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Jericho Capital Asset Management L.P. acquired a new position in shares of Docusign during the 3rd quarter worth approximately $77,119,000. Metropolitan Life Insurance Co NY increased its holdings in shares of Docusign by 95.2% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 11,252 shares of the company’s stock worth $697,000 after acquiring an additional 5,489 shares during the last quarter. Millennium Management LLC acquired a new position in shares of Docusign during the 3rd quarter worth approximately $50,881,000. Man Group plc increased its holdings in shares of Docusign by 306.5% during the 3rd quarter. Man Group plc now owns 66,319 shares of the company’s stock worth $4,106,000 after acquiring an additional 50,003 shares during the last quarter. Finally, Voloridge Investment Management LLC acquired a new position in shares of Docusign during the 3rd quarter worth approximately $7,785,000. 81.67% of the stock is currently owned by institutional investors and hedge funds.

About Docusign

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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