Analysts Set Docusign Inc (DOCU) Target Price at $61.55

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Shares of Docusign Inc (NASDAQ:DOCU) have been given an average rating of “Buy” by the thirteen brokerages that are covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $61.55.

Several equities analysts have commented on the stock. Wedbush increased their target price on shares of Docusign from $48.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Piper Jaffray Companies raised their price objective on shares of Docusign from $50.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, March 11th. Deutsche Bank upgraded shares of Docusign from a “hold” rating to a “buy” rating and raised their price objective for the stock from $50.00 to $65.00 in a report on Tuesday, February 12th. Zacks Investment Research upgraded shares of Docusign from a “sell” rating to a “hold” rating in a report on Thursday, January 31st. Finally, KeyCorp began coverage on shares of Docusign in a report on Monday, January 28th. They set an “overweight” rating and a $59.00 price objective for the company.

In related news, CRO Loren Alhadeff sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $54.35, for a total transaction of $652,200.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Reginald D. Davis sold 74,669 shares of the firm’s stock in a transaction that occurred on Tuesday, January 15th. The stock was sold at an average price of $45.00, for a total value of $3,360,105.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 709,378 shares of company stock valued at $34,993,383.

Several hedge funds have recently made changes to their positions in the business. Valeo Financial Advisors LLC increased its position in Docusign by 11.3% during the first quarter. Valeo Financial Advisors LLC now owns 3,300 shares of the company’s stock worth $171,000 after buying an additional 335 shares in the last quarter. Hudock Capital Group LLC lifted its position in shares of Docusign by 26.2% during the fourth quarter. Hudock Capital Group LLC now owns 2,046 shares of the company’s stock valued at $82,000 after purchasing an additional 425 shares in the last quarter. Caz Investments LP lifted its position in shares of Docusign by 86.6% during the fourth quarter. Caz Investments LP now owns 933 shares of the company’s stock valued at $37,000 after purchasing an additional 433 shares in the last quarter. Private Capital Group LLC increased its holdings in Docusign by 173.0% during the fourth quarter. Private Capital Group LLC now owns 819 shares of the company’s stock worth $33,000 after buying an additional 519 shares during the last quarter. Finally, Sonora Investment Management LLC purchased a new stake in Docusign during the first quarter worth about $31,000. Institutional investors own 53.14% of the company’s stock.

DOCU opened at $55.25 on Friday. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $9.39 billion and a PE ratio of -19.05. Docusign has a 12 month low of $35.06 and a 12 month high of $68.35.

Docusign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, March 14th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.01). The firm had revenue of $199.73 million for the quarter, compared to analysts’ expectations of $193.63 million. Docusign had a negative net margin of 60.84% and a negative return on equity of 86.06%. Docusign’s revenue was up 34.2% compared to the same quarter last year. As a group, research analysts forecast that Docusign will post -1 EPS for the current fiscal year.

Docusign Company Profile

DocuSign, Inc provides cloud based transaction products and services in the United States. The company offers e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. It serves large enterprises, sole proprietorships, small- to medium-sized businesses, professionals, and individuals.

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Analyst Recommendations for Docusign (NASDAQ:DOCU)

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