DocuSign (NASDAQ:DOCU) Upgraded at William Blair

William Blair upgraded shares of DocuSign (NASDAQ:DOCU) from a market perform rating to an outperform rating in a research note issued to investors on Monday morning, MarketBeat.com reports.

Several other equities analysts have also recently issued reports on DOCU. Royal Bank of Canada reiterated a “sector perform” rating and issued a $90.00 price target on shares of DocuSign in a report on Friday, March 14th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a report on Friday, March 14th. Hsbc Global Res upgraded DocuSign to a “moderate sell” rating in a report on Friday, December 6th. HSBC reiterated a “reduce” rating on shares of DocuSign in a report on Friday, December 6th. Finally, Piper Sandler raised their target price on DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, DocuSign has a consensus rating of “Hold” and a consensus price target of $95.00.

DocuSign Stock Performance

Shares of DOCU stock opened at $85.61 on Monday. The stock’s fifty day moving average is $87.67 and its 200-day moving average is $79.91. The stock has a market capitalization of $17.30 billion, a PE ratio of 17.65, a PEG ratio of 6.94 and a beta of 1.02. DocuSign has a 52 week low of $48.70 and a 52 week high of $107.86.

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

Insider Activity

In other news, insider James P. Shaughnessy sold 7,500 shares of DocuSign stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.17, for a total transaction of $676,275.00. Following the transaction, the insider now owns 43,781 shares in the company, valued at $3,947,732.77. The trade was a 14.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $87.41, for a total value of $46,676.94. Following the completion of the sale, the director now owns 8,270 shares in the company, valued at $722,880.70. The trade was a 6.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,034 shares of company stock worth $5,932,352 in the last 90 days. Corporate insiders own 1.66% of the company’s stock.

Institutional Investors Weigh In On DocuSign

Several institutional investors have recently bought and sold shares of DOCU. Apollon Wealth Management LLC acquired a new position in shares of DocuSign during the 3rd quarter worth approximately $203,000. Victory Capital Management Inc. increased its position in shares of DocuSign by 211.4% during the 3rd quarter. Victory Capital Management Inc. now owns 409,877 shares of the company’s stock worth $25,449,000 after purchasing an additional 278,252 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of DocuSign by 9.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 5,442 shares of the company’s stock worth $338,000 after purchasing an additional 481 shares during the last quarter. Metis Global Partners LLC acquired a new position in shares of DocuSign during the 3rd quarter worth approximately $224,000. Finally, ING Groep NV acquired a new position in shares of DocuSign during the 3rd quarter worth approximately $1,099,000. Institutional investors own 77.64% of the company’s stock.

About DocuSign

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.