DocuSign (NASDAQ:DOCU) Price Target Raised to $50.00 at Wells Fargo & Company

DocuSign (NASDAQ:DOCU) had its price objective lifted by Wells Fargo & Company from $48.00 to $50.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an underweight rating on the stock.

DOCU has been the topic of a number of other reports. Needham & Company LLC restated a hold rating on shares of DocuSign in a research note on Friday. JMP Securities reissued a market outperform rating and issued a $84.00 price objective on shares of DocuSign in a research note on Thursday, September 5th. Bank of America decreased their target price on DocuSign from $72.00 to $60.00 and set a neutral rating for the company in a research report on Friday, June 7th. Royal Bank of Canada dropped their price target on DocuSign from $59.00 to $52.00 and set a sector perform rating on the stock in a research report on Friday, June 7th. Finally, Piper Sandler decreased their price objective on DocuSign from $65.00 to $60.00 and set a neutral rating for the company in a report on Friday, June 7th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $61.45.

DocuSign Stock Performance

Shares of NASDAQ DOCU opened at $56.04 on Friday. The business’s 50 day moving average price is $55.45 and its 200-day moving average price is $55.99. DocuSign has a fifty-two week low of $38.11 and a fifty-two week high of $64.76. The company has a market cap of $11.47 billion, a price-to-earnings ratio of 107.77, a PEG ratio of 9.73 and a beta of 0.93.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.17. The business had revenue of $736.03 million during the quarter, compared to the consensus estimate of $727.20 million. DocuSign had a return on equity of 19.50% and a net margin of 34.56%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the company earned $0.09 earnings per share. Sell-side analysts predict that DocuSign will post 0.83 earnings per share for the current year.

Insider Activity

In related news, insider Stephen Shute sold 35,300 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $52.87, for a total transaction of $1,866,311.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other DocuSign news, Director Daniel D. Springer sold 287,052 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $53.78, for a total value of $15,437,656.56. Following the completion of the sale, the director now owns 923,445 shares of the company’s stock, valued at $49,662,872.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Stephen Shute sold 35,300 shares of the company’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $52.87, for a total transaction of $1,866,311.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 480,618 shares of company stock worth $25,432,336. Corporate insiders own 1.66% of the company’s stock.

Institutional Trading of DocuSign

Large investors have recently bought and sold shares of the stock. Massmutual Trust Co. FSB ADV lifted its stake in shares of DocuSign by 5,000.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after buying an additional 500 shares during the period. Mather Group LLC. raised its stake in DocuSign by 4,338.5% in the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after acquiring an additional 564 shares during the last quarter. Register Financial Advisors LLC acquired a new stake in DocuSign during the 1st quarter worth about $37,000. ICA Group Wealth Management LLC acquired a new stake in DocuSign during the 4th quarter worth about $39,000. Finally, nVerses Capital LLC purchased a new stake in DocuSign during the 2nd quarter valued at about $48,000. Hedge funds and other 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.