Docusign (NASDAQ:DOCU) Rating Lowered to Buy at Wall Street Zen

Docusign (NASDAQ:DOCU) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Sunday.

Several other research analysts have also commented on the stock. Needham & Company LLC restated a “hold” rating on shares of Docusign in a report on Friday, June 5th. UBS Group set a $60.00 price objective on shares of Docusign in a research note on Friday, June 5th. Wedbush dropped their price objective on shares of Docusign from $60.00 to $58.00 and set a “neutral” rating for the company in a research report on Friday, June 5th. Wells Fargo & Company cut their target price on shares of Docusign from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Friday, June 5th. Finally, Jefferies Financial Group lifted their target price on shares of Docusign from $45.00 to $50.00 and gave the company a “hold” rating in a report on Friday, June 5th. Three equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Docusign has an average rating of “Hold” and an average price target of $60.27.

Docusign Stock Up 0.5%

Shares of DOCU opened at $55.13 on Friday. The firm has a market cap of $10.53 billion, a PE ratio of 35.80, a price-to-earnings-growth ratio of 1.62 and a beta of 0.87. The company’s fifty day moving average is $48.53 and its two-hundred day moving average is $48.25. 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 earnings per share 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 analysts’ expectations of $824.71 million. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.90 earnings per share. As a group, equities research analysts anticipate that Docusign will post 2.03 earnings per share for the current year.

Insider Transactions at Docusign

In other Docusign news, CRO Paula Hansen sold 6,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $45.54, for a total value of $273,240.00. Following the completion of the sale, the executive owned 89,972 shares of the company’s stock, valued at $4,097,324.88. This trade represents a 6.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James P. Shaughnessy sold 12,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $45.54, for a total transaction of $546,480.00. Following the completion of the sale, the insider directly owned 52,815 shares of the company’s stock, valued at $2,405,195.10. This trade represents a 18.51% decrease in their position. 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 have sold 76,695 shares of company stock worth $3,476,002 over the last 90 days. 0.59% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Docusign

A number of large investors have recently added to or reduced their stakes in DOCU. State Street Corp boosted its position in Docusign by 0.9% in the 4th quarter. State Street Corp now owns 8,193,805 shares of the company’s stock valued at $560,456,000 after buying an additional 77,008 shares during the last quarter. Capital World Investors increased its position in shares of Docusign by 38.1% during the fourth quarter. Capital World Investors now owns 5,815,804 shares of the company’s stock worth $397,801,000 after acquiring an additional 1,603,900 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Docusign by 76.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 5,285,128 shares of the company’s stock worth $250,568,000 after acquiring an additional 2,283,996 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Docusign by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 4,084,463 shares of the company’s stock worth $278,665,000 after acquiring an additional 18,873 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Docusign by 8.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,343,613 shares of the company’s stock worth $228,703,000 after acquiring an additional 251,639 shares in the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

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.