Docusign Inc (NASDAQ:DOCU) Receives $78.00 Consensus Target Price from Brokerages

Docusign Inc (NASDAQ:DOCU) has received an average recommendation of “Buy” from the seventeen brokerages that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $78.64.

A number of research firms have recently issued reports on DOCU. Deutsche Bank raised their target price on shares of Docusign from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Morgan Stanley cut shares of Docusign from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $67.00 to $76.00 in a research note on Monday, January 13th. Evercore ISI initiated coverage on shares of Docusign in a research note on Monday, November 4th. They issued an “outperform” rating and a $80.00 price objective for the company. Bank of America lifted their price objective on shares of Docusign from $62.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Piper Jaffray Companies initiated coverage on shares of Docusign in a research note on Friday, November 8th. They issued a “neutral” rating and a $75.00 price objective for the company.

In other Docusign news, COO Scott V. Olrich sold 2,000 shares of Docusign stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $66.69, for a total value of $133,380.00. Following the completion of the sale, the chief operating officer now owns 497,770 shares in the company, valued at approximately $33,196,281.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Loren Alhadeff sold 32,000 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $75.00, for a total transaction of $2,400,000.00. Following the completion of the transaction, the executive now directly owns 238,078 shares in the company, valued at $17,855,850. The disclosure for this sale can be found here. Insiders sold a total of 1,585,805 shares of company stock valued at $119,025,392 in the last quarter. Corporate insiders own 13.60% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Worldquant Millennium Advisors LLC bought a new position in Docusign in the 3rd quarter valued at about $8,644,000. Meridian Investment Counsel Inc. increased its holdings in Docusign by 231.0% in the 3rd quarter. Meridian Investment Counsel Inc. now owns 24,328 shares of the company’s stock valued at $1,506,000 after buying an additional 16,978 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Docusign by 3.6% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 409,918 shares of the company’s stock valued at $25,382,000 after buying an additional 14,366 shares during the period. Man Group plc increased its holdings in Docusign by 306.5% in the 3rd quarter. Man Group plc now owns 66,319 shares of the company’s stock valued at $4,106,000 after buying an additional 50,003 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in Docusign by 333.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 48,170 shares of the company’s stock valued at $2,980,000 after buying an additional 37,067 shares during the period. 80.09% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ DOCU traded down $0.55 during mid-day trading on Friday, reaching $72.53. 1,939,571 shares of the company were exchanged, compared to its average volume of 1,445,274. The company’s 50-day simple moving average is $73.74 and its 200-day simple moving average is $61.78. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $13.11 billion, a P/E ratio of -54.95 and a beta of 1.44. Docusign has a twelve month low of $43.13 and a twelve month high of $77.01.

Docusign (NASDAQ:DOCU) last posted its earnings results on Thursday, December 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.08. The company had revenue of $249.50 million during the quarter, compared to analysts’ expectations of $240.40 million. Docusign had a negative net margin of 25.28% and a negative return on equity of 26.77%. The business’s quarterly revenue was up 39.9% on a year-over-year basis. As a group, equities research analysts expect that Docusign will post -0.9 EPS for the current year.

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.

See Also: What are the benefits of a portfolio tracker?

Analyst Recommendations for Docusign (NASDAQ:DOCU)

Receive News & Ratings for Docusign Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Docusign and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit