Recent Analysts’ Ratings Changes for DocuSign (DOCU)

DocuSign (NASDAQ: DOCU) has recently received a number of price target changes and ratings updates:

• 4/12/2024 – DocuSign had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $59.00 price target on the stock.
• 4/12/2024 – DocuSign was upgraded by analysts at UBS Group AG from a “sell” rating to a “neutral” rating. They now have a $62.00 price target on the stock, up previously from $48.00.
• 4/12/2024 – DocuSign had its “market outperform” rating reaffirmed by analysts at JMP Securities. They now have a $84.00 price target on the stock.
• 4/12/2024 – DocuSign had its “hold” rating reaffirmed by analysts at Needham & Company LLC.

DocuSign Trading Up 1.2 %

Shares of DOCU opened at $57.30 on Thursday. The firm has a market cap of $11.77 billion, a P/E ratio of 159.17, a PEG ratio of 4.89 and a beta of 0.88. DocuSign, Inc. has a 12 month low of $38.11 and a 12 month high of $64.76. The stock’s 50 day moving average is $56.90 and its two-hundred day moving average is $53.06.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, March 7th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. The firm had revenue of $712.39 million for the quarter, compared to analysts’ expectations of $698.05 million. DocuSign had a net margin of 2.68% and a return on equity of 13.91%. Equities research analysts forecast that DocuSign, Inc. will post 0.87 EPS for the current year.

Insider Buying and Selling

In related news, Director Peter Solvik sold 15,000 shares of DocuSign stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $60.00, for a total value of $900,000.00. Following the sale, the director now directly owns 783 shares in the company, valued at approximately $46,980. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other DocuSign news, Director Peter Solvik sold 15,000 shares of the firm’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $60.00, for a total value of $900,000.00. Following the transaction, the director now owns 783 shares in the company, valued at approximately $46,980. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Teresa Briggs sold 499 shares of DocuSign stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $52.99, for a total transaction of $26,442.01. Following the sale, the director now directly owns 6,169 shares in the company, valued at approximately $326,895.31. The disclosure for this sale can be found here. Insiders sold a total of 47,191 shares of company stock worth $2,705,646 in the last 90 days. Insiders own 17.80% of the company’s stock.

Institutional Trading of DocuSign

A number of hedge funds have recently bought and sold shares of DOCU. New York State Teachers Retirement System grew its position in shares of DocuSign by 0.9% in the fourth quarter. New York State Teachers Retirement System now owns 18,282 shares of the company’s stock valued at $1,087,000 after purchasing an additional 163 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in DocuSign by 2.7% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,975 shares of the company’s stock valued at $415,000 after buying an additional 184 shares in the last quarter. Whittier Trust Co. increased its stake in shares of DocuSign by 28.8% in the 4th quarter. Whittier Trust Co. now owns 935 shares of the company’s stock worth $56,000 after acquiring an additional 209 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of DocuSign by 0.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 83,899 shares of the company’s stock worth $4,617,000 after acquiring an additional 239 shares during the period. Finally, SeaCrest Wealth Management LLC boosted its position in shares of DocuSign by 2.2% during the 1st quarter. SeaCrest Wealth Management LLC now owns 11,327 shares of the company’s stock valued at $675,000 after acquiring an additional 240 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

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.