Docusign Inc (NASDAQ:DOCU) Receives Average Rating of “Buy” from Analysts

Shares of Docusign Inc (NASDAQ:DOCU) have received an average rating of “Buy” from the twelve research firms that are currently covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $61.22.

Several brokerages have commented on DOCU. ValuEngine lowered shares of Docusign from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 8th. Piper Jaffray Companies increased their price target on shares of Docusign from $50.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, March 11th. Wedbush increased their price target on shares of Docusign from $48.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Finally, William Blair reiterated an “outperform” rating on shares of Docusign in a research note on Friday, June 7th.

In other Docusign news, CRO Loren Alhadeff sold 11,579 shares of the stock in a transaction that occurred on Wednesday, June 19th. The shares were sold at an average price of $53.12, for a total value of $615,076.48. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Scott V. Olrich sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $53.39, for a total transaction of $533,900.00. The disclosure for this sale can be found here. Insiders sold 51,579 shares of company stock worth $2,766,276 over the last quarter. 13.60% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the company. Sonora Investment Management LLC acquired a new stake in shares of Docusign in the first quarter valued at approximately $31,000. Clean Yield Group acquired a new stake in shares of Docusign during the first quarter worth $31,000. Legacy Advisors LLC acquired a new stake in shares of Docusign during the first quarter worth $38,000. Rehmann Capital Advisory Group lifted its holdings in shares of Docusign by 226.1% during the first quarter. Rehmann Capital Advisory Group now owns 874 shares of the company’s stock worth $45,000 after purchasing an additional 606 shares during the period. Finally, Shine Investment Advisory Services Inc. acquired a new stake in shares of Docusign during the first quarter worth $66,000. 61.15% of the stock is owned by institutional investors and hedge funds.

DOCU stock opened at $49.83 on Wednesday. The stock’s 50 day moving average price is $52.60. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.76 and a quick ratio of 1.76. Docusign has a fifty-two week low of $35.06 and a fifty-two week high of $68.35. The stock has a market capitalization of $8.82 billion, a price-to-earnings ratio of -17.18 and a beta of 1.77.

Docusign (NASDAQ:DOCU) last released its earnings results on Thursday, June 6th. The company reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.23) by $0.30. Docusign had a negative net margin of 26.54% and a negative return on equity of 22.27%. The firm had revenue of $213.96 million for the quarter, compared to analyst estimates of $208.15 million. During the same period in the prior year, the firm earned $0.01 earnings per share. The business’s quarterly revenue was up 37.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Docusign will post -0.99 earnings per share for the current fiscal year.

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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Analyst Recommendations for Docusign (NASDAQ:DOCU)

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