Docusign (DOCU) Rating Increased to Hold at Zacks Investment Research

Docusign (NASDAQ:DOCU) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Friday.

According to Zacks, “DocuSign Inc. provides e-signature solutions. The Company offers services to mortgage, non-profit, government, real estate, insurance, technology and healthcare industries. Its product portfolio includes trial, single-user, multi-user, business pro, enterprise pro, standards-based signatures, ehanko, DocuSign transaction rooms for real estate, DocuSign payments and enotary. DocuSign Inc. is based in San Francisco, United States. “

Other research analysts have also issued research reports about the company. Wedbush assumed coverage on Docusign in a research report on Thursday, October 18th. They set a “neutral” rating and a $45.00 price target on the stock. Morgan Stanley reaffirmed a “hold” rating on shares of Docusign in a research report on Sunday, December 9th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $50.00 price target on shares of Docusign in a research report on Friday, December 7th. Deutsche Bank lowered their price target on Docusign to $50.00 and set a “hold” rating on the stock in a research report on Friday, December 7th. Finally, Goldman Sachs Group began coverage on Docusign in a research report on Thursday, December 13th. They set a “neutral” rating and a $45.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Docusign currently has an average rating of “Buy” and a consensus price target of $58.36.

NASDAQ:DOCU opened at $48.57 on Friday. Docusign has a twelve month low of $35.06 and a twelve month high of $68.35. The company has a current ratio of 2.91, a quick ratio of 2.91 and a debt-to-equity ratio of 0.53.

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

In related news, General Counsel Reginald D. Davis sold 187,698 shares of the business’s stock in a transaction that occurred on Thursday, December 13th. The stock was sold at an average price of $42.51, for a total transaction of $7,979,041.98. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kirsten O. Wolberg sold 28,310 shares of the business’s stock in a transaction that occurred on Tuesday, January 22nd. The stock was sold at an average price of $46.10, for a total value of $1,305,091.00. The disclosure for this sale can be found here. Insiders have sold a total of 493,449 shares of company stock worth $21,202,765 over the last three months.

Several hedge funds have recently bought and sold shares of the stock. Cornerstone Advisors Inc. bought a new stake in Docusign in the 4th quarter valued at $61,000. Opera Trading Capital bought a new stake in Docusign in the 3rd quarter valued at $101,000. Valeo Financial Advisors LLC boosted its stake in Docusign by 914.5% in the 3rd quarter. Valeo Financial Advisors LLC now owns 2,790 shares of the company’s stock valued at $117,000 after purchasing an additional 2,515 shares during the period. Harbour Capital Advisors LLC bought a new stake in Docusign in the 4th quarter valued at $202,000. Finally, BKS Advisors LLC bought a new stake in Docusign in the 3rd quarter valued at $236,000. 37.08% of the stock is currently owned by institutional investors and hedge funds.

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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