JPMorgan Chase & Co. Issues Pessimistic Forecast for Docusign (NASDAQ:DOCU) Stock Price

Docusign (NASDAQ:DOCU) had its target price reduced by research analysts at JPMorgan Chase & Co. from $80.00 to $78.00 in a report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 17.29% from the company’s previous close.

A number of other analysts have also issued reports on DOCU. Citigroup boosted their target price on Docusign from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, September 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Docusign in a report on Wednesday, October 8th. Wedbush decreased their target price on Docusign from $85.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday. Wells Fargo & Company set a $75.00 target price on Docusign in a report on Friday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Docusign in a research note on Friday. Four equities research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. Based on data from MarketBeat, Docusign currently has a consensus rating of “Hold” and an average price target of $87.79.

Docusign Stock Down 6.5%

DOCU stock traded down $4.60 during mid-day trading on Friday, hitting $66.50. 4,111,010 shares of the company were exchanged, compared to its average volume of 2,716,897. Docusign has a 12-month low of $63.41 and a 12-month high of $107.86. The firm has a market capitalization of $13.37 billion, a P/E ratio of 50.06, a PEG ratio of 3.51 and a beta of 0.98. The business has a fifty day simple moving average of $69.80 and a 200-day simple moving average of $75.45.

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

Insider Buying and Selling

In other news, Director Anna Marrs sold 365 shares of Docusign stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $68.54, for a total value of $25,017.10. Following the completion of the transaction, the director owned 11,163 shares in the company, valued at approximately $765,112.02. This trade represents a 3.17% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider James P. Shaughnessy sold 7,500 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $71.19, for a total value of $533,925.00. Following the transaction, the insider directly owned 55,442 shares of the company’s stock, valued at approximately $3,946,915.98. This represents a 11.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 103,713 shares of company stock worth $7,791,047 over the last ninety days. Company insiders own 1.01% of the company’s stock.

Institutional Investors Weigh In On Docusign

A number of large investors have recently modified their holdings of DOCU. Oak Family Advisors LLC increased its holdings in Docusign by 37.2% in the second quarter. Oak Family Advisors LLC now owns 95,134 shares of the company’s stock valued at $7,410,000 after buying an additional 25,795 shares during the last quarter. QRG Capital Management Inc. lifted its holdings in Docusign by 6.6% during the 2nd quarter. QRG Capital Management Inc. now owns 70,583 shares of the company’s stock worth $5,498,000 after buying an additional 4,341 shares during the last quarter. Vise Technologies Inc. acquired a new position in shares of Docusign during the 2nd quarter worth about $436,000. ASR Vermogensbeheer N.V. purchased a new position in shares of Docusign in the 1st quarter valued at about $523,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Docusign in the 2nd quarter valued at about $32,294,000. 77.64% of the stock is owned by hedge funds and other institutional investors.

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.