Citizens Jmp Reaffirms Market Outperform Rating for Docusign (NASDAQ:DOCU)

Docusign (NASDAQ:DOCU)‘s stock had its “market outperform” rating reaffirmed by equities research analysts at Citizens Jmp in a report released on Tuesday,Benzinga reports. They currently have a $86.00 price objective on the stock. Citizens Jmp’s price target would indicate a potential upside of 43.76% from the stock’s current price.

A number of other research firms have also recently weighed in on DOCU. UBS Group set a $60.00 target price on shares of Docusign in a research note on Friday, June 5th. Wells Fargo & Company decreased 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 note on Friday, June 5th. Wall Street Zen cut shares of Docusign from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 2nd. Citigroup reiterated a “market outperform” rating on shares of Docusign in a research note on Tuesday. Finally, Weiss Ratings raised Docusign from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 14th. Four equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $60.27.

Docusign Price Performance

NASDAQ DOCU opened at $59.82 on Tuesday. The business’s fifty day moving average is $50.26 and its 200-day moving average is $48.39. The stock has a market capitalization of $11.42 billion, a price-to-earnings ratio of 38.84, a PEG ratio of 1.83 and a beta of 0.87. Docusign has a one year low of $40.16 and a one year high of $86.65.

Docusign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, June 4th. The company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.10. Docusign had a net margin of 9.59% and a return on equity of 17.48%. The company had revenue of $830.24 million during the quarter, compared to analyst estimates of $824.71 million. During the same quarter in the prior year, the business earned $0.90 earnings per share. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. Research analysts expect that Docusign will post 2.03 EPS for the current fiscal year.

Insider Buying and Selling at Docusign

In other news, CFO Blake Jeffrey Grayson sold 15,000 shares of Docusign stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $60.00, for a total value of $900,000.00. Following the completion of the transaction, the chief financial officer owned 126,429 shares in the company, valued at $7,585,740. This trade represents a 10.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Paula Hansen sold 6,000 shares of the business’s 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 $273,240.00. Following the completion of the sale, the executive directly owned 89,972 shares in the company, valued at approximately $4,097,324.88. This trade represents a 6.25% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 91,695 shares of company stock valued at $4,376,002. Insiders own 0.59% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of DOCU. Smartleaf Asset Management LLC grew its stake in Docusign by 8.2% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,169 shares of the company’s stock valued at $166,000 after buying an additional 165 shares in the last quarter. Centaurus Financial Inc. lifted its position in shares of Docusign by 3.4% during the third quarter. Centaurus Financial Inc. now owns 5,582 shares of the company’s stock worth $402,000 after acquiring an additional 184 shares in the last quarter. Tred Avon Family Wealth LLC boosted its holdings in shares of Docusign by 3.6% in the first quarter. Tred Avon Family Wealth LLC now owns 6,176 shares of the company’s stock worth $293,000 after acquiring an additional 215 shares during the period. Sanctuary Advisors LLC boosted its holdings in shares of Docusign by 2.4% in the fourth quarter. Sanctuary Advisors LLC now owns 9,685 shares of the company’s stock worth $662,000 after acquiring an additional 231 shares during the period. Finally, First Citizens Bank & Trust Co. grew its position in shares of Docusign by 2.1% in the first quarter. First Citizens Bank & Trust Co. now owns 11,745 shares of the company’s stock valued at $557,000 after purchasing an additional 239 shares in the last quarter. 77.64% of the stock is owned by institutional investors.

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.