DocuSign (NASDAQ:DOCU) Given New $70.00 Price Target at JPMorgan Chase & Co.

DocuSign (NASDAQ:DOCU) had its target price boosted by JPMorgan Chase & Co. from $50.00 to $70.00 in a research report report published on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

Several other equities research analysts have also recently issued reports on the company. Citigroup lifted their price objective on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, September 6th. JMP Securities lifted their price objective on DocuSign from $84.00 to $108.00 and gave the stock a “market outperform” rating in a report on Friday, November 22nd. Jefferies Financial Group lifted their price objective on DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Finally, Royal Bank of Canada lifted their price objective on DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $70.73.

DocuSign Stock Down 0.4 %

NASDAQ:DOCU opened at $83.68 on Tuesday. DocuSign has a 52 week low of $44.34 and a 52 week high of $86.75. The stock has a market capitalization of $16.98 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 8.33 and a beta of 0.92. The stock’s 50-day moving average price is $73.75 and its 200-day moving average price is $61.68.

DocuSign (NASDAQ:DOCU) last posted its earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The firm had revenue of $736.03 million for the quarter, compared to analysts’ expectations of $727.20 million. During the same period last year, the firm earned $0.09 EPS. The company’s quarterly revenue was up 7.0% on a year-over-year basis. Sell-side analysts expect that DocuSign will post 1.03 earnings per share for the current fiscal year.

Insider Transactions at DocuSign

In other news, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $56.56, for a total transaction of $30,203.04. Following the sale, the director now owns 7,202 shares of the company’s stock, valued at approximately $407,345.12. The trade was a 6.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Chatwani sold 14,799 shares of DocuSign stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total transaction of $820,752.54. Following the sale, the insider now directly owns 70,748 shares in the company, valued at approximately $3,923,684.08. The trade was a 17.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,596 shares of company stock worth $4,441,529 in the last ninety days. Insiders own 1.66% of the company’s stock.

Institutional Trading of DocuSign

Institutional investors have recently made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new stake in shares of DocuSign during the 3rd quarter valued at approximately $28,000. Massmutual Trust Co. FSB ADV raised its position in DocuSign by 5,000.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock valued at $27,000 after purchasing an additional 500 shares during the period. Brooklyn Investment Group purchased a new stake in DocuSign in the third quarter valued at approximately $33,000. Mather Group LLC. raised its position in DocuSign by 4,338.5% in the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock valued at $31,000 after purchasing an additional 564 shares during the period. Finally, Reston Wealth Management LLC purchased a new stake in DocuSign in the third quarter valued at approximately $47,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

DocuSign Company Profile

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.