Analysts Set Docusign Inc. (NASDAQ:DOCU) Price Target at $60.27

Shares of Docusign Inc. (NASDAQ:DOCU) have been assigned a consensus rating of “Hold” from the nineteen brokerages that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, fifteen have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $60.2667.

Several analysts recently commented on the company. Wall Street Zen raised Docusign from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 13th. Wells Fargo & Company lowered their price target on Docusign from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Friday, June 5th. Jefferies Financial Group increased their price target on Docusign from $45.00 to $50.00 and gave the stock a “hold” rating in a research report on Friday, June 5th. JPMorgan Chase & Co. lowered their price target on Docusign from $78.00 to $65.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th. Finally, Piper Sandler lowered their price target on Docusign from $75.00 to $52.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th.

Insiders Place Their Bets

In other news, Director Mary Agnes Wilderotter sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $48.15, for a total value of $144,450.00. Following the transaction, the director owned 59,803 shares in the company, valued at $2,879,514.45. This trade represents a 4.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Paula Hansen sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $46.84, for a total value of $281,040.00. Following the completion of the transaction, the executive owned 79,233 shares in the company, valued at approximately $3,711,273.72. This trade represents a 7.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 64,695 shares of company stock valued at $3,006,682. 0.59% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Docusign

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Nordea Investment Management AB raised its stake in Docusign by 3.8% during the 4th quarter. Nordea Investment Management AB now owns 1,198,634 shares of the company’s stock valued at $82,502,000 after purchasing an additional 43,810 shares during the period. Step Capital Management Pte. Ltd. acquired a new stake in Docusign during the 4th quarter valued at $2,052,000. Retirement Systems of Alabama grew its holdings in shares of Docusign by 4.9% during the 4th quarter. Retirement Systems of Alabama now owns 544,473 shares of the company’s stock valued at $37,242,000 after acquiring an additional 25,367 shares in the last quarter. South Dakota Investment Council grew its holdings in shares of Docusign by 140.6% during the 3rd quarter. South Dakota Investment Council now owns 53,373 shares of the company’s stock valued at $3,848,000 after acquiring an additional 31,192 shares in the last quarter. Finally, Munich Reinsurance Co Stock Corp in Munich purchased a new position in shares of Docusign during the 3rd quarter valued at $17,614,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Docusign Stock Down 4.0%

Docusign stock opened at $42.46 on Friday. The firm has a market cap of $8.11 billion, a price-to-earnings ratio of 27.57, a price-to-earnings-growth ratio of 1.34 and a beta of 0.92. Docusign has a 52 week low of $40.16 and a 52 week high of $86.65. The business’s 50-day moving average price is $47.04 and its 200 day moving average price is $51.77.

Docusign (NASDAQ:DOCU) last posted its earnings results on Thursday, June 4th. The company reported $1.09 EPS for the quarter, topping the consensus estimate of $0.99 by $0.10. The firm had revenue of $830.24 million for the quarter, compared to analyst estimates of $824.71 million. Docusign had a return on equity of 17.48% and a net margin of 9.59%.Docusign’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the company earned $0.90 earnings per share. Equities analysts expect that Docusign will post 1.97 EPS for the current year.

Docusign declared that its Board of Directors has initiated a share repurchase program on Tuesday, March 17th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 21% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Docusign Company Profile

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.