Shares of Docusign Inc (NASDAQ:DOCU) have received a consensus rating of “Buy” from the twenty-two research firms that are presently covering the company, Marketbeat reports. Seven equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $147.56.
Several analysts have recently weighed in on the stock. Wells Fargo & Co began coverage on shares of Docusign in a research note on Tuesday, June 23rd. They issued an “equal weight” rating and a $160.00 price target for the company. Royal Bank of Canada lifted their price objective on Docusign from $170.00 to $210.00 and gave the company an “outperform” rating in a research note on Thursday, July 2nd. BidaskClub raised shares of Docusign from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. Oppenheimer began coverage on Docusign in a research note on Wednesday, June 24th. They issued an “outperform” rating and a $200.00 price objective on the stock. Finally, Piper Sandler upped their target price on shares of Docusign from $90.00 to $140.00 and gave the stock a “neutral” rating in a research note on Friday, June 5th.
Docusign stock opened at $216.83 on Thursday. The business has a 50 day simple moving average of $184.37 and a 200-day simple moving average of $118.60. Docusign has a 12 month low of $43.13 and a 12 month high of $217.70. The stock has a market capitalization of $39.79 billion, a PE ratio of -185.32 and a beta of 0.85. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.43.
Docusign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, June 4th. The company reported $0.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.02. Docusign had a negative return on equity of 29.36% and a negative net margin of 19.91%. The firm had revenue of $297.02 million during the quarter, compared to the consensus estimate of $281.12 million. During the same period in the prior year, the company earned $0.07 EPS. The firm’s revenue was up 38.8% compared to the same quarter last year. On average, equities research analysts anticipate that Docusign will post -0.74 EPS for the current fiscal year.
In related news, COO Scott V. Olrich sold 7,000 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $118.31, for a total transaction of $828,170.00. Following the completion of the transaction, the chief operating officer now directly owns 459,670 shares in the company, valued at approximately $54,383,557.70. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Scott V. Olrich sold 5,800 shares of the business’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $203.70, for a total transaction of $1,181,460.00. Following the transaction, the chief operating officer now directly owns 405,403 shares of the company’s stock, valued at approximately $82,580,591.10. The disclosure for this sale can be found here. Insiders have sold 248,534 shares of company stock worth $40,460,572 in the last 90 days. 5.06% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new stake in Docusign in the fourth quarter worth about $78,985,000. AGF Investments Inc. acquired a new position in Docusign during the first quarter worth about $63,674,000. Blair William & Co. IL boosted its position in shares of Docusign by 37.3% during the 1st quarter. Blair William & Co. IL now owns 1,430,768 shares of the company’s stock valued at $132,203,000 after purchasing an additional 389,001 shares in the last quarter. 1832 Asset Management L.P. raised its holdings in shares of Docusign by 39.0% in the 1st quarter. 1832 Asset Management L.P. now owns 1,343,600 shares of the company’s stock worth $116,554,000 after purchasing an additional 377,100 shares in the last quarter. Finally, Federated Hermes Inc. grew its position in Docusign by 91.8% in the first quarter. Federated Hermes Inc. now owns 754,630 shares of the company’s stock worth $69,728,000 after buying an additional 361,278 shares during the last quarter. Hedge funds and other institutional investors own 78.89% of the company’s stock.
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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