DocuSign (NASDAQ:DOCU) Price Target Raised to $59.00 at Robert W. Baird

DocuSign (NASDAQ:DOCU) had its target price hoisted by Robert W. Baird from $55.00 to $59.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities analysts have also commented on DOCU. Bank of America decreased their price target on shares of DocuSign from $72.00 to $60.00 and set a neutral rating on the stock in a report on Friday, June 7th. Citigroup reduced their target price on DocuSign from $93.00 to $86.00 and set a buy rating on the stock in a research note on Wednesday, June 5th. Needham & Company LLC reaffirmed a hold rating on shares of DocuSign in a research note on Friday, August 16th. Royal Bank of Canada cut their price objective on DocuSign from $59.00 to $52.00 and set a sector perform rating for the company in a report on Friday, June 7th. Finally, JMP Securities reissued a market outperform rating and set a $84.00 price objective on shares of DocuSign in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $61.45.

DocuSign Stock Performance

NASDAQ:DOCU opened at $59.19 on Friday. DocuSign has a 52-week low of $38.11 and a 52-week high of $64.76. The stock has a fifty day moving average of $55.44 and a 200 day moving average of $55.86. The firm has a market capitalization of $12.12 billion, a price-to-earnings ratio of 113.83, a P/E/G ratio of 9.74 and a beta of 0.93.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. The firm had revenue of $736.03 million during the quarter, compared to the consensus estimate of $727.20 million. DocuSign had a return on equity of 15.44% and a net margin of 3.81%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the company posted $0.09 EPS. Equities analysts forecast that DocuSign will post 0.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In other DocuSign news, Director Daniel D. Springer sold 70,983 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $49.84, for a total value of $3,537,792.72. Following the sale, the director now owns 891,373 shares of the company’s stock, valued at approximately $44,426,030.32. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other DocuSign news, Director Daniel D. Springer sold 70,983 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $49.84, for a total transaction of $3,537,792.72. Following the completion of the transaction, the director now owns 891,373 shares of the company’s stock, valued at approximately $44,426,030.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James P. Shaughnessy sold 1,800 shares of DocuSign stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $50.98, for a total value of $91,764.00. Following the completion of the sale, the insider now owns 35,703 shares in the company, valued at $1,820,138.94. The disclosure for this sale can be found here. Insiders have sold a total of 482,418 shares of company stock valued at $25,524,100 over the last three months. 1.66% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in DOCU. Massmutual Trust Co. FSB ADV grew its holdings in shares of DocuSign by 5,000.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after acquiring an additional 500 shares during the period. Mather Group LLC. boosted its position in shares of DocuSign by 4,338.5% during the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock valued at $31,000 after purchasing an additional 564 shares in the last quarter. Register Financial Advisors LLC purchased a new stake in DocuSign in the first quarter worth $37,000. ICA Group Wealth Management LLC bought a new position in DocuSign in the fourth quarter worth $39,000. Finally, nVerses Capital LLC purchased a new position in DocuSign during the second quarter valued at $48,000. 77.64% of the stock is owned by hedge funds and other institutional investors.

DocuSign Company Profile

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.