Docusign (NASDAQ:DOCU) Price Target Raised to $240.00

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Docusign (NASDAQ:DOCU) had its price target hoisted by Wedbush from $165.00 to $240.00 in a report issued on Thursday morning, The Fly reports. They currently have an outperform rating on the stock.

A number of other equities analysts have also commented on DOCU. Royal Bank of Canada lifted their price objective on Docusign from $170.00 to $210.00 and gave the stock an outperform rating in a research note on Thursday, July 2nd. Oppenheimer began coverage on Docusign in a research note on Wednesday, June 24th. They issued an outperform rating and a $200.00 price objective on the stock. Piper Sandler lifted their price objective on Docusign from $90.00 to $140.00 and gave the stock a neutral rating in a research note on Friday, June 5th. Evercore ISI lowered Docusign to an outperform rating in a research note on Monday, April 20th. Finally, JPMorgan Chase & Co. boosted their price target on Docusign from $90.00 to $150.00 and gave the company an overweight rating in a research note on Friday, June 5th. Seven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Docusign presently has an average rating of Buy and an average price target of $144.00.

NASDAQ:DOCU opened at $210.11 on Thursday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.43 and a current ratio of 1.43. The stock’s 50-day moving average is $158.68 and its 200-day moving average is $105.49. Docusign has a 1-year low of $43.13 and a 1-year high of $217.00.

Docusign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, June 4th. The company reported $0.12 EPS for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.02. The company had revenue of $297.02 million for the quarter, compared to analyst estimates of $281.12 million. Docusign had a negative return on equity of 29.36% and a negative net margin of 19.91%. The firm’s quarterly revenue was up 38.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.07 earnings per share. On average, research analysts forecast that Docusign will post -0.74 earnings per share for the current year.

In other news, COO Scott V. Olrich sold 5,800 shares of the company’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $203.70, for a total transaction of $1,181,460.00. Following the transaction, the chief operating officer now owns 405,403 shares of the company’s stock, valued at approximately $82,580,591.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Scott V. Olrich sold 7,000 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $118.31, for a total value of $828,170.00. Following the transaction, the chief operating officer now directly owns 459,670 shares in the company, valued at approximately $54,383,557.70. The disclosure for this sale can be found here. Insiders sold a total of 248,534 shares of company stock valued at $40,460,572 in the last 90 days. Corporate insiders own 5.06% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Oxford Asset Management LLP purchased a new position in shares of Docusign during the 4th quarter valued at $1,174,000. IBM Retirement Fund purchased a new stake in Docusign during the 1st quarter worth about $347,000. Schroder Investment Management Group purchased a new stake in Docusign during the 1st quarter worth about $228,000. Pictet Asset Management Ltd. lifted its holdings in Docusign by 11.2% during the 1st quarter. Pictet Asset Management Ltd. now owns 38,800 shares of the company’s stock worth $3,585,000 after purchasing an additional 3,900 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its holdings in Docusign by 67.4% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 15,900 shares of the company’s stock worth $1,469,000 after purchasing an additional 6,400 shares in the last quarter. 79.26% of the stock is currently 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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