DocuSign (NASDAQ:DOCU) PT Set at $60.00 by Robert W. Baird

Robert W. Baird set a $60.00 price objective on DocuSign (NASDAQ:DOCUGet Rating) in a research note released on Monday morning, Stock Target Advisor reports.

DOCU has been the subject of several other reports. Royal Bank of Canada reduced their price objective on DocuSign from $85.00 to $80.00 in a report on Friday, June 10th. Bank of America cut DocuSign from a buy rating to a neutral rating and reduced their price objective for the stock from $120.00 to $72.00 in a report on Friday, June 10th. William Blair cut DocuSign from an outperform rating to a market perform rating in a report on Friday, June 10th. Piper Sandler reduced their price objective on DocuSign from $100.00 to $75.00 and set a neutral rating for the company in a report on Friday, June 10th. Finally, Wedbush cut DocuSign from a neutral rating to an underperform rating and reduced their price objective for the stock from $80.00 to $60.00 in a report on Tuesday, May 3rd. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $132.60.

DOCU opened at $65.70 on Monday. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.01 and a quick ratio of 1.01. The business has a 50 day simple moving average of $78.21 and a 200-day simple moving average of $106.03. The stock has a market capitalization of $13.14 billion, a P/E ratio of -146.00 and a beta of 1.05. DocuSign has a 12 month low of $55.96 and a 12 month high of $314.76.

DocuSign (NASDAQ:DOCUGet Rating) last posted its quarterly earnings results on Thursday, June 9th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.08). The business had revenue of $588.69 million during the quarter, compared to analyst estimates of $581.85 million. DocuSign had a negative net margin of 4.00% and a negative return on equity of 17.17%. The firm’s quarterly revenue was up 25.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.03) earnings per share. Research analysts anticipate that DocuSign will post -0.43 EPS for the current year.

In other news, COO Scott V. Olrich sold 3,948 shares of DocuSign stock in a transaction on Tuesday, April 5th. The stock was sold at an average price of $110.09, for a total value of $434,635.32. Following the completion of the sale, the chief operating officer now owns 230,663 shares of the company’s stock, valued at $25,393,689.67. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Scott V. Olrich sold 12,500 shares of DocuSign stock in a transaction on Tuesday, March 29th. The shares were sold at an average price of $110.15, for a total value of $1,376,875.00. The disclosure for this sale can be found here. 2.55% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in the business. IMA Wealth Inc. increased its stake in DocuSign by 20.4% during the first quarter. IMA Wealth Inc. now owns 26,450 shares of the company’s stock worth $2,833,000 after acquiring an additional 4,484 shares during the last quarter. Rehmann Capital Advisory Group increased its stake in DocuSign by 101.8% during the first quarter. Rehmann Capital Advisory Group now owns 3,758 shares of the company’s stock worth $398,000 after acquiring an additional 1,896 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in DocuSign by 25.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 132,505 shares of the company’s stock worth $14,194,000 after acquiring an additional 27,293 shares during the last quarter. City State Bank increased its stake in DocuSign by 1,507.8% during the first quarter. City State Bank now owns 1,029 shares of the company’s stock worth $110,000 after acquiring an additional 965 shares during the last quarter. Finally, Kestra Private Wealth Services LLC increased its stake in DocuSign by 16.8% during the first quarter. Kestra Private Wealth Services LLC now owns 5,774 shares of the company’s stock worth $619,000 after acquiring an additional 832 shares during the last quarter. Institutional investors own 75.62% of the company’s stock.

DocuSign Company Profile (Get Rating)

DocuSign, Inc provides electronic signature software in the United States and internationally. The company provides e-signature solution that enables businesses to digitally prepare, sign, act on, and manage agreements. It also offers CLM, which automates workflows across the entire agreement process; Insights that use artificial intelligence (AI) to search and analyze agreements by legal concepts and clauses; Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce; Negotiate for Salesforce that supports for approvals, document comparisons, and version control; Analyzer, which helps customers understand what they're signing before they sign it; and CLM+ that provide AI-driven contract lifecycle management.

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Analyst Recommendations for DocuSign (NASDAQ:DOCU)

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