Docusign (NASDAQ:DOCU) Hits New 12-Month High – Time to Buy?

Docusign Inc. (NASDAQ:DOCU)’s share price hit a new 52-week high during trading on Tuesday. The stock traded as high as $79.59 and last traded at $77.9960, with a volume of 340,548 shares trading hands. The stock had previously closed at $76.66.

Analysts Set New Price Targets

Several brokerages recently issued reports on DOCU. Robert W. Baird lifted their price objective on shares of Docusign from $55.00 to $72.00 and gave the company a “neutral” rating in a report on Friday, September 4th. Weiss Ratings upgraded shares of Docusign from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Piper Sandler lifted their price objective on shares of Docusign from $52.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, September 4th. Morgan Stanley increased their price objective on Docusign from $69.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, September 4th. Finally, Bank of America boosted their target price on Docusign from $58.00 to $64.00 and gave the stock an “underperform” rating in a research note on Friday, September 4th. Three investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $67.62.

Docusign Trading Up 1.5%

The company has a market capitalization of $15.23 billion, a price-to-earnings ratio of 49.68, a PEG ratio of 2.97 and a beta of 0.86. The company has a fifty day moving average of $67.89 and a 200-day moving average of $55.43.

Docusign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, September 3rd. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.07. Docusign had a net margin of 9.82% and a return on equity of 18.29%. The firm had revenue of $875.75 million for the quarter, compared to analyst estimates of $867.22 million. During the same period in the previous year, the business posted $0.30 earnings per share. Docusign’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, equities research analysts expect that Docusign Inc. will post 2.14 EPS for the current year.

Insider Transactions at Docusign

In related news, insider Robert Chatwani sold 14,676 shares of the business’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $69.41, for a total transaction of $1,018,661.16. Following the completion of the transaction, the insider directly owned 75,928 shares of the company’s stock, valued at $5,270,162.48. The trade was a 16.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James Shaughnessy sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $68.80, for a total transaction of $825,600.00. Following the completion of the sale, the insider directly owned 50,591 shares in the company, valued at approximately $3,480,660.80. This trade represents a 19.17% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 165,868 shares of company stock valued at $11,121,890 in the last 90 days. Insiders own 0.59% of the company’s stock.

Hedge Funds Weigh In On Docusign

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE raised its holdings in shares of Docusign by 23.3% during the first quarter. Bank of America Corp DE now owns 1,193,163 shares of the company’s stock valued at $56,568,000 after buying an additional 225,801 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Docusign by 247.5% in the second quarter. Assenagon Asset Management S.A. now owns 349,038 shares of the company’s stock worth $15,504,000 after purchasing an additional 248,597 shares in the last quarter. Jefferies Financial Group Inc. acquired a new stake in Docusign in the second quarter worth about $691,000. OP Asset Management Ltd acquired a new stake in Docusign in the first quarter worth about $3,931,000. Finally, Two Sigma Securities LLC bought a new position in Docusign in the 2nd quarter valued at about $1,376,000. 77.64% of the stock is owned by institutional investors and hedge funds.

Docusign Company Profile

DocuSign, Inc is a software company that provides digital agreement and electronic signature solutions. Its platform enables individuals and organizations to prepare, send, sign, manage and store agreements electronically, helping customers replace paper-based contracting processes with digital workflows.

The company’s offerings include eSignature, contract lifecycle management, identity verification, notarization and agreement analytics tools. These products are designed to support agreement creation, negotiation, execution and post-signature management across functions such as sales, human resources, procurement, legal and finance.

Founded in 2003, DocuSign serves businesses, government organizations and individual users in markets around the world.