Docusign Inc (DOCU) Receives Consensus Rating of “Buy” from Brokerages

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Shares of Docusign Inc (NASDAQ:DOCU) have been assigned an average recommendation of “Buy” from the ten brokerages that are presently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $58.63.

A number of research firms recently commented on DOCU. Citigroup lifted their price objective on Docusign from $59.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, June 8th. JMP Securities lifted their price objective on Docusign from $52.00 to $63.00 and gave the stock a “market outperform” rating in a research note on Friday, June 8th. Deutsche Bank lifted their price objective on Docusign from $45.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, June 8th. Piper Jaffray Companies began coverage on Docusign in a research note on Tuesday, May 22nd. They issued an “overweight” rating and a $52.00 price objective on the stock. Finally, William Blair began coverage on Docusign in a research note on Tuesday, May 22nd. They issued an “outperform” rating on the stock.

Shares of Docusign stock traded down $2.25 during midday trading on Friday, reaching $58.20. The company had a trading volume of 1,525,105 shares, compared to its average volume of 1,132,651. Docusign has a fifty-two week low of $37.00 and a fifty-two week high of $66.80.

Docusign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, June 7th. The company reported $0.01 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.14. The company had revenue of $155.81 million during the quarter, compared to analyst estimates of $145.87 million. The firm’s quarterly revenue was up 37.3% compared to the same quarter last year. equities analysts predict that Docusign will post -2.29 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of DOCU. State of Alaska Department of Revenue bought a new stake in Docusign in the second quarter worth approximately $160,000. Bank of Montreal Can bought a new stake in Docusign in the second quarter worth approximately $145,000. KPCB DGF Associates LLC bought a new stake in Docusign in the second quarter worth approximately $163,591,000. Westpac Banking Corp bought a new stake in Docusign in the second quarter worth approximately $193,000. Finally, Prospera Financial Services Inc bought a new stake in Docusign in the second quarter worth approximately $482,000. Institutional investors and hedge funds own 2.48% of the company’s stock.

Docusign Company Profile

DocuSign, Inc provides cloud based transaction products and services in the United States. The company offers e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. It serves large enterprises, sole proprietorships, small- to medium-sized businesses, professionals, and individuals.

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Analyst Recommendations for Docusign (NASDAQ:DOCU)

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