Docusign (NASDAQ:DOCU) had its price target raised by Citigroup from $60.00 to $72.00 in a research note released on Friday, BenzingaRatingsTable reports. They currently have a buy rating on the stock.
A number of other brokerages have also commented on DOCU. Royal Bank of Canada started coverage on Docusign in a research note on Friday. They issued an outperform rating and a $75.00 price target for the company. FBN Securities initiated coverage on shares of Docusign in a research report on Tuesday, July 9th. They set an outperform rating and a $60.00 price objective on the stock. Zacks Investment Research lowered shares of Docusign from a buy rating to a hold rating in a report on Monday, July 29th. Wedbush raised shares of Docusign from a neutral rating to an outperform rating and raised their target price for the stock from $48.00 to $65.00 in a research report on Friday. Finally, DA Davidson raised their target price on shares of Docusign to $63.00 and gave the stock a buy rating in a research report on Friday. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $65.07.
NASDAQ DOCU opened at $58.57 on Friday. Docusign has a fifty-two week low of $35.06 and a fifty-two week high of $59.74. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 1.00. The stock has a 50 day simple moving average of $48.14 and a two-hundred day simple moving average of $52.29.
Docusign (NASDAQ:DOCU) last issued its quarterly earnings data on Thursday, September 5th. The company reported $0.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.23) by $0.24. Docusign had a negative return on equity of 25.64% and a negative net margin of 28.20%. The firm had revenue of $235.61 million for the quarter, compared to analyst estimates of $220.81 million. During the same period last year, the company earned $0.03 EPS. The business’s quarterly revenue was up 41.0% compared to the same quarter last year. On average, sell-side analysts expect that Docusign will post -0.99 earnings per share for the current year.
In other Docusign news, Director Peter Solvik sold 541,532 shares of the company’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $51.52, for a total value of $27,899,728.64. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Kirsten O. Wolberg sold 7,877 shares of the company’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $50.93, for a total transaction of $401,175.61. The disclosure for this sale can be found here. In the last quarter, insiders sold 560,988 shares of company stock valued at $28,915,981. 13.60% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Wealthcare Advisory Partners LLC bought a new stake in shares of Docusign in the 2nd quarter worth approximately $36,000. Migdal Insurance & Financial Holdings Ltd. increased its position in Docusign by 261.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 769 shares of the company’s stock valued at $38,000 after buying an additional 556 shares in the last quarter. Rehmann Capital Advisory Group increased its position in Docusign by 226.1% during the 1st quarter. Rehmann Capital Advisory Group now owns 874 shares of the company’s stock valued at $45,000 after buying an additional 606 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in Docusign during the second quarter valued at $47,000. Finally, Regal Wealth Group Inc. purchased a new position in Docusign during the second quarter valued at $50,000. 69.76% of the stock is owned by institutional investors and hedge funds.
Docusign Company Profile
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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