DocuSign (NASDAQ:DOCU) Price Target Cut to $90.00 by Analysts at UBS Group

DocuSign (NASDAQ:DOCU) had its target price decreased by UBS Group from $100.00 to $90.00 in a research report sent to investors on Friday,Benzinga reports. UBS Group currently has a neutral rating on the stock.

Several other analysts have also commented on the stock. Bank of America dropped their price target on shares of DocuSign from $112.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday. Robert W. Baird raised their price target on shares of DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Jefferies Financial Group raised 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, December 3rd. Wells Fargo & Company raised their price target on shares of DocuSign from $70.00 to $73.00 and gave the company an “underweight” rating in a research report on Friday. Finally, Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Friday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $95.58.

DocuSign Price Performance

Shares of DocuSign stock opened at $85.76 on Friday. The firm has a fifty day moving average price of $87.97 and a 200 day moving average price of $79.22. DocuSign has a 1 year low of $48.70 and a 1 year high of $107.86. The stock has a market cap of $17.33 billion, a PE ratio of 17.68, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02.

DocuSign (NASDAQ:DOCU) last issued its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.02. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The firm had revenue of $776.25 million during the quarter, compared to analysts’ expectations of $760.94 million. During the same quarter last year, the company posted $0.76 earnings per share. The firm’s revenue was up 9.0% compared to the same quarter last year. As a group, equities analysts expect that DocuSign will post 1.17 EPS for the current year.

Insider Activity

In related news, CFO Blake Jeffrey Grayson sold 8,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $94.77, for a total transaction of $758,160.00. Following the completion of the sale, the chief financial officer now owns 101,439 shares of the company’s stock, valued at approximately $9,613,374.03. This represents a 7.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Allan C. Thygesen sold 40,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the completion of the sale, the chief executive officer now owns 156,050 shares of the company’s stock, valued at approximately $14,050,742. The trade was a 20.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 104,422 shares of company stock worth $9,665,394 over the last 90 days. 1.66% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On DocuSign

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. purchased a new stake in DocuSign in the 3rd quarter valued at $28,000. Kestra Investment Management LLC purchased a new stake in DocuSign in the 4th quarter valued at $30,000. Brooklyn Investment Group purchased a new stake in DocuSign in the 3rd quarter valued at $33,000. Modus Advisors LLC purchased a new stake in DocuSign in the 4th quarter valued at $36,000. Finally, First Horizon Advisors Inc. grew its holdings in DocuSign by 102.6% in the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock valued at $36,000 after buying an additional 201 shares in the last quarter. Institutional investors and hedge funds 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.