DocuSign (NASDAQ:DOCU) Price Target Raised to $100.00 at UBS Group

DocuSign (NASDAQ:DOCU) had its price objective upped by stock analysts at UBS Group from $60.00 to $100.00 in a report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s target price points to a potential downside of 4.12% from the company’s previous close.

A number of other research firms have also recently issued reports on DOCU. Piper Sandler increased their target price on DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research note on Friday. Citigroup increased their target price on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Robert W. Baird increased their target price on DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, JMP Securities increased their target price on DocuSign from $108.00 to $124.00 and gave the stock a “market outperform” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $86.91.

DocuSign Trading Up 24.6 %

Shares of DOCU stock traded up $20.62 on Friday, reaching $104.30. The company had a trading volume of 8,046,470 shares, compared to its average volume of 2,900,427. The stock has a market cap of $21.17 billion, a PE ratio of 22.00, a PEG ratio of 8.33 and a beta of 0.92. The company has a 50-day moving average of $73.75 and a 200-day moving average of $61.68. DocuSign has a 12 month low of $44.34 and a 12 month high of $104.59.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. The company had revenue of $736.03 million during the quarter, compared to analysts’ expectations of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. DocuSign’s revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.09 EPS. Sell-side analysts anticipate that DocuSign will post 1.03 earnings per share for the current year.

Insider Activity

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in DOCU. Itau Unibanco Holding S.A. bought a new position in DocuSign during the 3rd quarter worth $28,000. Mather Group LLC. raised its stake in 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 purchasing an additional 564 shares in the last quarter. Brooklyn Investment Group acquired a new stake in DocuSign during the third quarter worth about $33,000. Reston Wealth Management LLC bought a new position in DocuSign in the 3rd quarter valued at about $47,000. Finally, nVerses Capital LLC bought a new position in DocuSign in the 2nd quarter valued at about $48,000. Institutional investors own 77.64% of the company’s stock.

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.