Morgan Stanley Increases Docusign (DOCU) Price Target to $52.00

Share on StockTwits

Docusign (NASDAQ:DOCU) had its price objective upped by Morgan Stanley from $49.00 to $52.00 in a research note released on Friday. The brokerage currently has an equal weight rating on the stock.

Other analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Docusign from a hold rating to a buy rating and set a $64.00 price target on the stock in a research note on Monday, September 10th. Deutsche Bank decreased their price target on shares of Docusign to $50.00 and set a hold rating on the stock in a research note on Friday. JMP Securities increased their price target on shares of Docusign from $63.00 to $68.00 and gave the company a market outperform rating in a research note on Thursday, September 6th. Wedbush began coverage on shares of Docusign in a report on Thursday, October 18th. They issued a neutral rating and a $45.00 price objective on the stock. Finally, Bank of America increased their price objective on shares of Docusign from $63.00 to $64.00 and gave the company a neutral rating in a report on Thursday, September 6th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $59.60.

Shares of DOCU traded down $2.11 during mid-day trading on Friday, hitting $39.66. 4,742,188 shares of the company traded hands, compared to its average volume of 1,618,441. Docusign has a one year low of $35.06 and a one year high of $68.35.

Docusign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, December 6th. The company reported ($0.30) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.07). The firm had revenue of $178.39 million for the quarter, compared to analyst estimates of $173.55 million. The company’s revenue was up 36.6% compared to the same quarter last year. As a group, equities analysts anticipate that Docusign will post -2.46 EPS for the current fiscal year.

In related news, Director Peter Solvik sold 1,304,348 shares of the stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $55.00, for a total value of $71,739,140.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Marshall Wace North America L.P. raised its holdings in Docusign by 142.0% in the third quarter. Marshall Wace North America L.P. now owns 42,183 shares of the company’s stock worth $2,218,000 after purchasing an additional 24,751 shares during the period. Clearbridge Investments LLC raised its holdings in Docusign by 9.0% in the third quarter. Clearbridge Investments LLC now owns 318,950 shares of the company’s stock worth $16,767,000 after purchasing an additional 26,350 shares during the period. Vanguard Group Inc. raised its holdings in Docusign by 3.7% in the third quarter. Vanguard Group Inc. now owns 1,922,947 shares of the company’s stock worth $101,089,000 after purchasing an additional 69,428 shares during the period. Morgan Stanley raised its holdings in Docusign by 539.1% in the third quarter. Morgan Stanley now owns 1,148,284 shares of the company’s stock worth $60,366,000 after purchasing an additional 968,599 shares during the period. Finally, Legal & General Group Plc raised its holdings in Docusign by 64.1% in the third quarter. Legal & General Group Plc now owns 65,008 shares of the company’s stock worth $3,416,000 after purchasing an additional 25,384 shares during the period. Institutional investors and hedge funds own 39.06% 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.

Recommended Story: Earnings Reports

Analyst Recommendations for Docusign (NASDAQ:DOCU)

Receive News & Ratings for Docusign Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Docusign and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


Leave a Reply

 
© 2006-2018 BBNS.