Zacks: Analysts Anticipate Docusign Inc (NASDAQ:DOCU) Will Post Quarterly Sales of $241.30 Million

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Equities research analysts predict that Docusign Inc (NASDAQ:DOCU) will post $241.30 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Docusign’s earnings, with estimates ranging from $238.96 million to $246.24 million. Docusign reported sales of $178.39 million during the same quarter last year, which indicates a positive year over year growth rate of 35.3%. The company is expected to announce its next earnings report after the market closes on Thursday, December 5th.

According to Zacks, analysts expect that Docusign will report full year sales of $952.18 million for the current year, with estimates ranging from $948.88 million to $963.87 million. For the next fiscal year, analysts forecast that the firm will report sales of $1.19 billion, with estimates ranging from $1.16 billion to $1.23 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Docusign.

Docusign (NASDAQ:DOCU) last issued its earnings results on Thursday, September 5th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.23) by $0.24. Docusign had a negative return on equity of 26.70% and a negative net margin of 28.20%. The firm had revenue of $235.61 million for the quarter, compared to analysts’ expectations of $220.81 million. During the same quarter last year, the business earned $0.03 earnings per share. The company’s revenue was up 41.0% compared to the same quarter last year.

DOCU has been the topic of a number of recent analyst reports. Danske initiated coverage on Docusign in a report on Friday, August 16th. They set a “buy” rating and a $52.00 target price on the stock. Piper Jaffray Companies initiated coverage on Docusign in a report on Friday, November 8th. They set a “neutral” rating and a $75.00 target price on the stock. Evercore ISI initiated coverage on Docusign in a report on Monday, November 4th. They set an “outperform” rating and a $80.00 target price on the stock. KeyCorp set a $65.00 target price on Docusign and gave the stock a “buy” rating in a report on Friday, September 6th. Finally, JMP Securities raised their target price on Docusign from $70.00 to $75.00 and gave the stock a “positive” rating in a report on Thursday, November 21st. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $70.25.

DOCU traded down $1.29 during midday trading on Wednesday, reaching $69.92. 2,258,603 shares of the company were exchanged, compared to its average volume of 2,529,673. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.64 and a current ratio of 1.64. Docusign has a one year low of $36.25 and a one year high of $73.22. The stock has a market capitalization of $12.53 billion, a P/E ratio of -24.11 and a beta of 1.46. The stock’s 50-day simple moving average is $67.51 and its 200 day simple moving average is $56.80.

In other Docusign news, COO Scott V. Olrich sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $59.50, for a total value of $119,000.00. Also, CTO Kirsten O. Wolberg sold 7,877 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $61.29, for a total value of $482,781.33. Insiders have sold a total of 68,698 shares of company stock worth $4,184,489 in the last quarter. 13.60% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC lifted its stake in Docusign by 6.5% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 4,258 shares of the company’s stock valued at $211,000 after acquiring an additional 260 shares in the last quarter. Berkeley Capital Partners LLC lifted its stake in Docusign by 3.0% in the 3rd quarter. Berkeley Capital Partners LLC now owns 10,767 shares of the company’s stock valued at $667,000 after acquiring an additional 316 shares in the last quarter. Tortoise Index Solutions LLC lifted its stake in Docusign by 26.0% in the 2nd quarter. Tortoise Index Solutions LLC now owns 1,859 shares of the company’s stock valued at $92,000 after acquiring an additional 384 shares in the last quarter. Whittier Trust Co. lifted its stake in Docusign by 229.4% in the 3rd quarter. Whittier Trust Co. now owns 560 shares of the company’s stock valued at $35,000 after acquiring an additional 390 shares in the last quarter. Finally, North Star Investment Management Corp. bought a new stake in Docusign in the 3rd quarter valued at approximately $25,000. Hedge funds and other institutional investors own 81.67% of the company’s stock.

Docusign Company Profile

DocuSign, Inc provides cloud based software in the United States. The company offers e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. The company sells its products through direct, partner-assisted, and Web-based sales. It serves enterprise businesses, commercial businesses, and small businesses, such as professionals, sole proprietorships and individuals.

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