DocuSign (NASDAQ:DOCU) Given New $100.00 Price Target at Robert W. Baird

DocuSign (NASDAQ:DOCU) had its price target increased by equities researchers at Robert W. Baird from $59.00 to $100.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Robert W. Baird’s price objective suggests a potential upside of 19.50% from the company’s previous close.

A number of other research analysts have also issued reports on DOCU. Royal Bank of Canada raised their price objective on shares of DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a report on Friday, September 6th. Jefferies Financial Group upped their price target on shares of DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday. JMP Securities lifted their price target on shares of DocuSign from $84.00 to $108.00 and gave the stock a “market outperform” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. increased their price objective on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a report on Tuesday. Finally, Citigroup raised their target price on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, DocuSign currently has a consensus rating of “Hold” and an average price target of $74.45.

DocuSign Stock Performance

Shares of NASDAQ:DOCU opened at $83.68 on Friday. DocuSign has a 52-week low of $44.34 and a 52-week high of $86.75. The company has a market capitalization of $16.98 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 8.33 and a beta of 0.92. The company has a fifty day moving average of $73.75 and a 200-day moving average of $61.68.

DocuSign (NASDAQ:DOCU) last issued its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The business had revenue of $736.03 million during the quarter, compared to analysts’ expectations of $727.20 million. During the same quarter in the prior year, the firm earned $0.09 EPS. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, equities analysts forecast that DocuSign will post 1.03 EPS for the current fiscal year.

Insider Activity at DocuSign

In other DocuSign news, insider Robert Chatwani sold 14,799 shares of DocuSign stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total value of $820,752.54. Following the completion of the sale, the insider now directly owns 70,748 shares of the company’s stock, valued at approximately $3,923,684.08. The trade was a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Teresa Briggs sold 534 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $56.56, for a total transaction of $30,203.04. Following the transaction, the director now directly owns 7,202 shares in the company, valued at $407,345.12. This trade represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,596 shares of company stock worth $4,441,529 in the last 90 days. Corporate insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new position in shares of DocuSign during the third quarter worth approximately $28,000. Mather Group LLC. lifted its stake in shares of DocuSign by 4,338.5% in the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock valued at $31,000 after buying an additional 564 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of DocuSign during the third quarter valued at about $33,000. Reston Wealth Management LLC bought a new stake in shares of DocuSign during the third quarter worth about $47,000. Finally, nVerses Capital LLC bought a new position in DocuSign in the 2nd quarter valued at about $48,000. 77.64% of the stock is owned by institutional investors and hedge funds.

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.