BTIG Research Forecasts Strong Price Appreciation for Docusign (NASDAQ:DOCU) Stock

Docusign (NASDAQ:DOCU) had its target price hoisted by analysts at BTIG Research from $60.00 to $75.00 in a research report issued on Wednesday, MarketBeat reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s target price suggests a potential upside of 16.03% from the company’s current price.

DOCU has been the subject of a number of other reports. Weiss Ratings upgraded Docusign from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 25th. Jefferies Financial Group lifted their price target on shares of Docusign from $45.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, June 5th. Citizens Jmp reissued a “market outperform” rating and issued a $86.00 price target on shares of Docusign in a report on Tuesday, August 18th. Wells Fargo & Company reduced their price target on shares of Docusign from $60.00 to $55.00 and set an “equal weight” rating for the company in a research report on Friday, June 5th. Finally, Bank of America reiterated an “underperform” rating on shares of Docusign in a report on Friday. Four analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $61.27.

Docusign Stock Performance

NASDAQ:DOCU opened at $64.64 on Wednesday. The stock has a market capitalization of $12.34 billion, a P/E ratio of 41.97, a P/E/G ratio of 1.92 and a beta of 0.90. The company’s 50-day simple moving average is $54.35 and its 200-day simple moving average is $49.43. Docusign has a fifty-two week low of $40.16 and a fifty-two week high of $86.65.

Docusign (NASDAQ:DOCU) last issued its earnings results on Thursday, June 4th. The company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.90 earnings per share. On average, research analysts forecast that Docusign will post 2.06 EPS for the current year.

Insider Transactions at Docusign

In other Docusign news, Director James A. Beer sold 450 shares of the company’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $64.02, for a total value of $28,809.00. Following the transaction, the director owned 14,586 shares of the company’s stock, valued at $933,795.72. This represents a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Allan C. Thygesen sold 26,250 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $46.02, for a total transaction of $1,208,025.00. Following the completion of the transaction, the chief executive officer owned 159,038 shares in the company, valued at approximately $7,318,928.76. This represents a 14.17% decrease in their ownership of the stock. 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. Insiders sold 90,965 shares of company stock worth $4,341,688 in the last 90 days. Insiders own 0.59% of the company’s stock.

Institutional Trading of Docusign

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Docusign in the 2nd quarter valued at approximately $927,059,000. California State Teachers Retirement System increased its holdings in Docusign by 4,016.6% in the second quarter. California State Teachers Retirement System now owns 9,960,652 shares of the company’s stock valued at $442,452,000 after buying an additional 9,718,686 shares during the last quarter. Norges Bank acquired a new stake in Docusign in the fourth quarter valued at $186,795,000. Arrowstreet Capital Limited Partnership raised its stake in Docusign by 76.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 5,285,128 shares of the company’s stock valued at $250,568,000 after buying an additional 2,283,996 shares in the last quarter. Finally, Capital World Investors lifted its holdings in Docusign by 38.1% during the 4th quarter. Capital World Investors now owns 5,815,804 shares of the company’s stock worth $397,801,000 after buying an additional 1,603,900 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

About Docusign

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.