DocuSign (NASDAQ:DOCU) Receives Hold Rating from Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of DocuSign (NASDAQ:DOCU) in a research note published on Friday morning,Benzinga reports.

DOCU has been the topic of several other research reports. UBS Group boosted their price target on DocuSign from $60.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Hsbc Global Res raised DocuSign to a “moderate sell” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. raised shares of DocuSign from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $70.00 to $75.00 in a research report on Monday, March 10th. Morgan Stanley upped their target price on shares of DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Finally, Jefferies Financial Group lifted their price target on DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $95.58.

DocuSign Stock Performance

Shares of NASDAQ:DOCU opened at $85.76 on Friday. DocuSign has a 1 year low of $48.70 and a 1 year high of $107.86. The stock has a 50-day simple moving average of $87.97 and a 200-day simple moving average of $79.22. The stock has a market capitalization of $17.33 billion, a P/E ratio of 17.68, a PEG ratio of 6.94 and a beta of 1.02.

DocuSign (NASDAQ:DOCU) last posted its earnings results on Thursday, March 13th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. The business had revenue of $776.25 million for the quarter, compared to analysts’ expectations of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.76 earnings per share. Analysts predict that DocuSign will post 1.17 earnings per share for the current year.

Insider Buying and Selling

In other DocuSign news, CEO Allan C. Thygesen sold 40,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total value of $3,601,600.00. Following the completion of the transaction, the chief executive officer now owns 156,050 shares in the company, valued at approximately $14,050,742. This represents a 20.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of DocuSign stock in a transaction on Monday, December 16th. The shares were sold at an average price of $94.77, for a total value of $758,160.00. Following the sale, the chief financial officer now directly owns 101,439 shares in the company, valued at $9,613,374.03. The trade was a 7.31 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 104,422 shares of company stock valued at $9,665,394. Insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On DocuSign

A number of institutional investors and hedge funds have recently bought and sold shares of DOCU. Kestra Investment Management LLC bought a new position in shares of DocuSign in the fourth quarter valued at approximately $30,000. First Horizon Advisors Inc. lifted its position in DocuSign by 102.6% in the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock worth $36,000 after purchasing an additional 201 shares during the period. Modus Advisors LLC bought a new position in DocuSign during the 4th quarter valued at $36,000. Wood Tarver Financial Group LLC acquired a new position in shares of DocuSign during the 4th quarter valued at $37,000. Finally, McIlrath & Eck LLC raised its stake in shares of DocuSign by 476.0% in the 4th quarter. McIlrath & Eck LLC now owns 432 shares of the company’s stock worth $39,000 after buying an additional 357 shares in the last quarter. 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.