Docusign (NASDAQ:DOCU) Reaches New 52-Week High – Time to Buy?

Docusign Inc. (NASDAQ:DOCU) hit a new 52-week high on Monday. The company traded as high as $85.90 and last traded at $85.2790, with a volume of 115,106 shares. The stock had previously closed at $85.27.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on DOCU shares. Citigroup boosted their price objective on shares of Docusign from $54.00 to $72.00 and gave the stock a “neutral” rating in a report on Friday, September 4th. Royal Bank Of Canada boosted their price target on shares of Docusign from $55.00 to $70.00 and gave the company a “sector perform” rating in a research report on Friday, September 4th. Wall Street Zen lowered Docusign from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 2nd. Yorkville Ives initiated coverage on Docusign in a research note on Monday, October 5th. They issued an “in-line” rating and a $72.00 price target on the stock. Finally, BTIG Research upped their target price on shares of Docusign from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, September 2nd. Three equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Docusign has a consensus rating of “Hold” and an average price target of $67.62.

Docusign Stock Down 0.3%

The stock has a fifty day simple moving average of $68.76 and a 200 day simple moving average of $55.95. The firm has a market capitalization of $15.89 billion, a P/E ratio of 51.86, a PEG ratio of 3.15 and a beta of 0.86.

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

Insider Buying and Selling

In other Docusign news, CRO Paula Hansen sold 3,300 shares of the business’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $68.81, for a total value of $227,073.00. Following the completion of the transaction, the executive directly owned 106,557 shares in the company, valued at approximately $7,332,187.17. The trade was a 3.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mary Wilderotter sold 1,000 shares of the firm’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $68.80, for a total value of $68,800.00. Following the completion of the sale, the director directly owned 2,199 shares of the company’s stock, valued at $151,291.20. The trade was a 31.26% 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 165,868 shares of company stock worth $11,121,890 over the last 90 days. Corporate insiders own 0.59% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Docusign in the second quarter valued at $927,059,000. Arrowstreet Capital Limited Partnership raised its holdings in Docusign by 76.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,285,128 shares of the company’s stock worth $250,568,000 after purchasing an additional 2,283,996 shares during the period. Renaissance Technologies LLC boosted its position in Docusign by 4.0% during the first quarter. Renaissance Technologies LLC now owns 3,170,061 shares of the company’s stock worth $150,293,000 after purchasing an additional 123,100 shares in the last quarter. Quantinno Capital Management LP boosted its position in Docusign by 51.9% during the first quarter. Quantinno Capital Management LP now owns 1,608,631 shares of the company’s stock worth $76,265,000 after purchasing an additional 549,603 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Docusign in the second quarter valued at approximately $56,219,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

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.