Docusign (NASDAQ:DOCU) Given New $82.00 Price Target at Bank of America

Docusign (NASDAQ:DOCU) had its price objective decreased by Bank of America from $102.00 to $82.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Bank of America‘s price objective points to a potential upside of 15.33% from the company’s current price.

A number of other equities research analysts also recently issued reports on DOCU. Argus reaffirmed a “hold” rating on shares of Docusign in a research note on Monday, September 8th. Robert W. Baird dropped their price objective on shares of Docusign from $90.00 to $75.00 and set a “neutral” rating for the company in a research note on Friday. Piper Sandler boosted their target price on shares of Docusign from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, September 5th. Citigroup increased their price target on shares of Docusign from $110.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, September 4th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Docusign in a research report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $90.93.

Docusign Price Performance

NASDAQ DOCU opened at $71.10 on Friday. Docusign has a 1-year low of $63.50 and a 1-year high of $107.86. The business has a 50 day simple moving average of $69.80 and a two-hundred day simple moving average of $75.45. The stock has a market capitalization of $14.30 billion, a PE ratio of 53.46, a P/E/G ratio of 3.51 and a beta of 0.98.

Docusign (NASDAQ:DOCU) last issued its quarterly earnings data on Thursday, September 4th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.08. Docusign had a return on equity of 14.01% and a net margin of 9.08%.The business had revenue of $800.64 million for the quarter, compared to analysts’ expectations of $780.35 million. During the same period in the prior year, the firm earned $0.97 EPS. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, analysts anticipate that Docusign will post 1.17 EPS for the current fiscal year.

Insider Activity at Docusign

In other Docusign news, insider Robert Chatwani sold 13,817 shares of the company’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $83.10, for a total value of $1,148,192.70. Following the transaction, the insider owned 71,162 shares of the company’s stock, valued at $5,913,562.20. This represents a 16.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Allan C. Thygesen sold 40,000 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $69.69, for a total value of $2,787,600.00. Following the completion of the sale, the chief executive officer owned 136,246 shares in the company, valued at approximately $9,494,983.74. The trade was a 22.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 103,713 shares of company stock worth $7,791,047 over the last quarter. 1.01% of the stock is owned by insiders.

Institutional Investors Weigh In On Docusign

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Banque Transatlantique SA bought a new position in Docusign in the 1st quarter worth about $26,000. Summit Securities Group LLC bought a new stake in shares of Docusign during the first quarter valued at approximately $34,000. Rise Advisors LLC boosted its holdings in shares of Docusign by 864.6% in the first quarter. Rise Advisors LLC now owns 463 shares of the company’s stock valued at $38,000 after purchasing an additional 415 shares during the period. WPG Advisers LLC purchased a new stake in shares of Docusign in the first quarter valued at approximately $39,000. Finally, Twin Peaks Wealth Advisors LLC bought a new position in Docusign in the second quarter worth approximately $43,000. 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.