Docusign (NASDAQ:DOCU) Hits New 1-Year High on Earnings Beat

Docusign Inc (NASDAQ:DOCU)’s stock price hit a new 52-week high during mid-day trading on Friday following a better than expected earnings announcement. The company traded as high as $77.00 and last traded at $75.10, with a volume of 1432 shares traded. The stock had previously closed at $69.50.

The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.08. The company had revenue of $249.50 million during the quarter, compared to analyst estimates of $240.40 million. Docusign had a negative return on equity of 26.70% and a negative net margin of 28.20%. Docusign’s revenue was up 39.9% on a year-over-year basis.

DOCU has been the topic of several recent research reports. DA Davidson upped their price objective on Docusign from $63.00 to $79.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. KeyCorp set a $65.00 target price on Docusign and gave the company a “buy” rating in a research report on Friday, September 6th. Citigroup raised their target price on shares of Docusign from $72.00 to $85.00 in a report on Friday. Deutsche Bank boosted their price target on shares of Docusign from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Royal Bank of Canada upped their price target on shares of Docusign from $80.00 to $93.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $74.75.

In related news, COO Scott V. Olrich sold 2,000 shares of the stock in a transaction 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 sale, the chief operating officer now owns 497,770 shares in the company, valued at approximately $33,196,281.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Scott V. Olrich sold 4,000 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $58.98, for a total value of $235,920.00. In the last quarter, insiders sold 44,698 shares of company stock valued at $2,849,129. Company insiders own 13.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of DOCU. Steward Partners Investment Advisory LLC lifted its holdings in shares of Docusign by 6.5% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 4,258 shares of the company’s stock worth $211,000 after acquiring an additional 260 shares during the last quarter. Berkeley Capital Partners LLC grew its holdings in Docusign by 3.0% during the 3rd quarter. Berkeley Capital Partners LLC now owns 10,767 shares of the company’s stock valued at $667,000 after purchasing an additional 316 shares during the last quarter. Tortoise Index Solutions LLC raised its position in Docusign by 26.0% in the 2nd quarter. Tortoise Index Solutions LLC now owns 1,859 shares of the company’s stock worth $92,000 after purchasing an additional 384 shares during the period. Whittier Trust Co. raised its position in Docusign by 229.4% in the 3rd quarter. Whittier Trust Co. now owns 560 shares of the company’s stock worth $35,000 after purchasing an additional 390 shares during the period. Finally, North Star Investment Management Corp. purchased a new stake in Docusign in the 3rd quarter worth about $25,000. 81.67% of the stock is owned by institutional investors.

The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 1.06. The firm has a market cap of $13.30 billion, a P/E ratio of -26.06 and a beta of 1.46. The company’s 50 day simple moving average is $67.85 and its 200-day simple moving average is $57.15.

Docusign Company Profile (NASDAQ:DOCU)

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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