Docusign Inc (NASDAQ:DOCU) Receives $65.50 Consensus Target Price from Analysts

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Shares of Docusign Inc (NASDAQ:DOCU) have been given a consensus recommendation of “Buy” by the seventeen analysts that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and fourteen have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $65.50.

DOCU has been the subject of a number of analyst reports. Citigroup increased their target price on Docusign from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. increased their target price on Docusign from $88.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Bank of America increased their target price on Docusign from $57.00 to $62.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. DA Davidson increased their target price on Docusign to $63.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Finally, ValuEngine raised Docusign from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th.

Docusign stock traded down $0.61 during mid-day trading on Monday, reaching $61.88. 4,149,941 shares of the company were exchanged, compared to its average volume of 2,552,592. Docusign has a twelve month low of $35.06 and a twelve month high of $64.18. The firm’s 50-day simple moving average is $49.17 and its two-hundred day simple moving average is $52.53. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.76 and a current ratio of 1.64. The firm has a market cap of $11.08 billion, a PE ratio of -21.34 and a beta of 1.37.

Docusign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.24. Docusign had a negative return on equity of 26.70% and a negative net margin of 28.20%. The company had revenue of $235.61 million during the quarter, compared to analysts’ expectations of $220.81 million. During the same period last year, the firm earned $0.03 EPS. The firm’s revenue for the quarter was up 41.0% on a year-over-year basis. As a group, equities research analysts anticipate that Docusign will post -1.04 EPS for the current year.

In related news, COO Scott V. Olrich sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $58.98, for a total value of $235,920.00. Also, insider Kirsten O. Wolberg sold 7,877 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $50.93, for a total value of $401,175.61. The disclosure for this sale can be found here. Insiders sold a total of 590,988 shares of company stock valued at $30,606,261 over the last ninety days. 13.60% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wealthcare Advisory Partners LLC purchased a new position in Docusign in the 2nd quarter valued at approximately $36,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in Docusign by 261.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 769 shares of the company’s stock valued at $38,000 after purchasing an additional 556 shares in the last quarter. Rehmann Capital Advisory Group increased its stake in Docusign by 226.1% in the 1st quarter. Rehmann Capital Advisory Group now owns 874 shares of the company’s stock valued at $45,000 after purchasing an additional 606 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in Docusign in the 2nd quarter valued at approximately $47,000. Finally, Regal Wealth Group Inc. purchased a new position in Docusign in the 2nd quarter valued at approximately $50,000. 68.79% of the stock is owned by hedge funds and other institutional investors.

About Docusign

DocuSign, Inc provides cloud based software in the United States. The company offers e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. The company sells its products through direct, partner-assisted, and Web-based sales. It serves enterprise businesses, commercial businesses, and small businesses, such as professionals, sole proprietorships and individuals.

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Analyst Recommendations for Docusign (NASDAQ:DOCU)

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