Piper Sandler Cuts Docusign (NASDAQ:DOCU) Price Target to $75.00

Docusign (NASDAQ:DOCU) had its target price reduced by equities research analysts at Piper Sandler from $90.00 to $75.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s target price would suggest a potential upside of 13.16% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on DOCU. Evercore ISI cut their target price on Docusign from $92.00 to $80.00 and set an “in-line” rating on the stock in a research note on Friday. Zacks Research downgraded shares of Docusign from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 24th. Wells Fargo & Company reduced their price objective on Docusign from $85.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday. JMP Securities restated a “market outperform” rating and issued a $124.00 target price on shares of Docusign in a research report on Friday, October 3rd. Finally, Wedbush cut 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. Four investment analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. Based on data from MarketBeat.com, Docusign has a consensus rating of “Hold” and a consensus price target of $86.71.

Docusign Stock Down 6.8%

DOCU stock traded down $4.82 during midday trading on Friday, reaching $66.28. The company had a trading volume of 5,375,494 shares, compared to its average volume of 2,723,119. The firm has a market capitalization of $13.33 billion, a PE ratio of 49.83, a P/E/G ratio of 3.51 and a beta of 0.98. The stock has a 50 day moving average price of $69.80 and a 200 day moving average price of $75.45. Docusign has a fifty-two week low of $63.41 and a fifty-two week high of $107.86.

Docusign (NASDAQ:DOCU) last announced its quarterly earnings results 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 the consensus estimate of $780.35 million. During the same quarter last year, the business posted $0.97 EPS. The business’s revenue was up 8.8% on a year-over-year basis. Research analysts predict that Docusign will post 1.17 EPS for the current year.

Insiders Place Their Bets

In other Docusign news, Director Peter Solvik sold 15,000 shares of Docusign stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $81.48, for a total transaction of $1,222,200.00. Following the transaction, the director directly owned 135,253 shares in the company, valued at approximately $11,020,414.44. The trade was a 9.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 9,509 shares of the business’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $83.10, for a total transaction of $790,197.90. Following the sale, the chief financial officer directly owned 112,160 shares in the company, valued at approximately $9,320,496. This trade represents a 7.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 103,713 shares of company stock worth $7,791,047 over the last three months. Company insiders own 1.01% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Banque Transatlantique SA acquired a new stake in Docusign during the 1st quarter worth about $26,000. Summit Securities Group LLC purchased a new stake in shares of Docusign in the first quarter worth approximately $34,000. Rise Advisors LLC boosted its holdings in shares of Docusign by 864.6% during the first quarter. Rise Advisors LLC now owns 463 shares of the company’s stock worth $38,000 after purchasing an additional 415 shares during the period. WPG Advisers LLC acquired a new stake in shares of Docusign during the first quarter worth approximately $39,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in Docusign during the second quarter valued at approximately $43,000. 77.64% of the stock is owned by institutional investors and hedge funds.

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.