Docusign (NASDAQ:DOCU) had its price target upped by stock analysts at Wedbush from $80.00 to $90.00 in a research note issued on Friday, 24/7 WallStreet reports. The firm presently has an “outperform” rating on the stock. Wedbush’s price objective would suggest a potential upside of 19.09% from the company’s previous close.

Several other research firms also recently issued reports on DOCU. ValuEngine upgraded Docusign from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. FBN Securities set a $65.00 price objective on Docusign and gave the stock a “buy” rating in a research report on Friday, September 6th. JMP Securities lifted their target price on Docusign from $70.00 to $75.00 and gave the stock a “positive” rating in a report on Thursday, November 21st. Evercore ISI began coverage on Docusign in a report on Monday, November 4th. They set an “outperform” rating and a $80.00 target price for the company. Finally, Deutsche Bank boosted their target price on shares of Docusign from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Friday. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Docusign presently has an average rating of “Buy” and a consensus price target of $74.75.

Docusign stock opened at $75.57 on Friday. The company’s 50-day moving average price is $67.85 and its two-hundred day moving average price is $57.15. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.64 and a quick ratio of 1.64. Docusign has a twelve month low of $36.25 and a twelve month high of $75.85.

Docusign (NASDAQ:DOCU) last issued its quarterly earnings data on Thursday, December 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.08. The company had revenue of $249.50 million during the quarter, compared to analysts’ expectations of $240.40 million. Docusign had a negative return on equity of 26.51% and a negative net margin of 25.28%. The company’s quarterly revenue was up 39.9% on a year-over-year basis. On average, analysts forecast that Docusign will post -1.04 EPS for the current fiscal year.

In other news, CRO Loren Alhadeff sold 11,400 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $67.98, for a total transaction of $774,972.00. Also, CTO Kirsten O. Wolberg sold 7,877 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $61.29, for a total value of $482,781.33. In the last 90 days, insiders have sold 44,698 shares of company stock worth $2,849,129. Corporate insiders own 13.60% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its stake in Docusign by 58.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 16,338,342 shares of the company’s stock valued at $812,179,000 after purchasing an additional 6,051,597 shares in the last quarter. BlackRock Inc. increased its holdings in Docusign by 98.2% in the 2nd quarter. BlackRock Inc. now owns 5,122,761 shares of the company’s stock valued at $254,654,000 after buying an additional 2,537,764 shares during the period. Jericho Capital Asset Management L.P. bought a new position in Docusign in the 3rd quarter valued at about $77,119,000. Scout Investments Inc. bought a new position in Docusign in the 3rd quarter valued at about $67,705,000. Finally, Morgan Stanley raised its position in shares of Docusign by 73.7% in the 2nd quarter. Morgan Stanley now owns 2,440,441 shares of the company’s stock valued at $121,314,000 after buying an additional 1,035,506 shares in the last quarter. Institutional investors own 81.67% of the company’s stock.

Docusign Company Profile

DocuSign, Inc provides cloud based software in the United States. The company offers e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. The company sells its products through direct, partner-assisted, and Web-based sales. It serves enterprise businesses, commercial businesses, and small businesses, such as professionals, sole proprietorships and individuals.

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Analyst Recommendations for Docusign (NASDAQ:DOCU)

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