Wall Street brokerages forecast that Docusign Inc (NASDAQ:DOCU) will announce sales of $208.49 million for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Docusign’s earnings. The highest sales estimate is $213.09 million and the lowest is $206.40 million. Docusign reported sales of $155.81 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 33.8%. The company is scheduled to report its next quarterly earnings results on Thursday, June 6th.
On average, analysts expect that Docusign will report full-year sales of $913.96 million for the current financial year, with estimates ranging from $912.20 million to $920.16 million. For the next year, analysts anticipate that the firm will post sales of $1.13 billion, with estimates ranging from $1.10 billion to $1.14 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow Docusign.
Docusign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, March 14th. The company reported ($0.24) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.01). Docusign had a negative net margin of 60.84% and a negative return on equity of 86.06%. The company had revenue of $199.73 million for the quarter, compared to the consensus estimate of $193.63 million. The firm’s revenue was up 34.2% compared to the same quarter last year.
Several analysts have recently weighed in on DOCU shares. Goldman Sachs Group started coverage on shares of Docusign in a research note on Thursday, December 13th. They set a “neutral” rating and a $45.00 price target for the company. Zacks Investment Research raised shares of Docusign from a “sell” rating to a “hold” rating in a research note on Monday, December 17th. Morgan Stanley raised shares of Docusign from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $52.00 to $53.00 in a research note on Tuesday, January 15th. KeyCorp started coverage on shares of Docusign in a research note on Monday, January 28th. They set an “overweight” rating and a $59.00 price target for the company. Finally, Deutsche Bank raised shares of Docusign from a “hold” rating to a “buy” rating and lifted their price target for the company from $50.00 to $65.00 in a research note on Tuesday, February 12th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $61.75.
In related news, CRO Loren Alhadeff sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $54.35, for a total value of $652,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kirsten O. Wolberg sold 10,166 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $52.95, for a total transaction of $538,289.70. The disclosure for this sale can be found here. Insiders sold 709,378 shares of company stock valued at $34,993,383 in the last three months.
A number of large investors have recently modified their holdings of DOCU. SG Americas Securities LLC purchased a new position in Docusign in the third quarter worth $296,000. Rhumbline Advisers grew its holdings in Docusign by 20.8% in the third quarter. Rhumbline Advisers now owns 29,466 shares of the company’s stock worth $1,549,000 after purchasing an additional 5,077 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Docusign by 762.8% in the third quarter. Bank of New York Mellon Corp now owns 536,887 shares of the company’s stock worth $28,224,000 after purchasing an additional 474,659 shares during the last quarter. BlackRock Inc. grew its holdings in Docusign by 24.3% in the third quarter. BlackRock Inc. now owns 2,108,400 shares of the company’s stock worth $110,838,000 after purchasing an additional 412,766 shares during the last quarter. Finally, First Republic Investment Management Inc. purchased a new position in Docusign in the third quarter worth $532,000. 53.14% of the stock is owned by institutional investors.
Docusign stock opened at $55.35 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. Docusign has a fifty-two week low of $35.06 and a fifty-two week high of $68.35. The company has a market cap of $9.46 billion and a PE ratio of -19.09.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Docusign Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Docusign and related companies with MarketBeat.com's FREE daily email newsletter.