Robert W. Baird Increases DocuSign (NASDAQ:DOCU) Price Target to $59.00

DocuSign (NASDAQ:DOCU) had its target price lifted by analysts at Robert W. Baird from $55.00 to $59.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s price target points to a potential upside of 3.64% from the stock’s current price.

Several other research firms have also recently commented on DOCU. Bank of America cut their target price on shares of DocuSign from $72.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, June 7th. Royal Bank of Canada lowered their price target on DocuSign from $59.00 to $52.00 and set a “sector perform” rating on the stock in a research note on Friday, June 7th. JMP Securities reiterated a “market outperform” rating and issued a $84.00 price objective on shares of DocuSign in a research report on Thursday. Morgan Stanley decreased their price target on shares of DocuSign from $65.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Friday, June 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research note on Friday, August 16th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, DocuSign has a consensus rating of “Hold” and a consensus target price of $59.73.

DocuSign Stock Performance

Shares of NASDAQ:DOCU opened at $56.93 on Friday. DocuSign has a 52-week low of $38.11 and a 52-week high of $64.76. The company has a market cap of $11.65 billion, a P/E ratio of 109.48, a P/E/G ratio of 9.74 and a beta of 0.93. The stock’s 50-day moving average is $55.32 and its 200-day moving average is $55.80.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. DocuSign had a return on equity of 15.44% and a net margin of 3.81%. The firm had revenue of $736.03 million for the quarter, compared to analyst estimates of $727.20 million. During the same quarter last year, the firm posted $0.09 EPS. The company’s revenue was up 7.0% on a year-over-year basis. As a group, equities analysts predict that DocuSign will post 0.83 EPS for the current year.

Insider Buying and Selling

In other news, insider James P. Shaughnessy sold 1,800 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $50.98, for a total transaction of $91,764.00. Following the completion of the transaction, the insider now directly owns 35,703 shares in the company, valued at approximately $1,820,138.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Allan C. Thygesen sold 7,725 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $59.09, for a total value of $456,470.25. Following the completion of the transaction, the chief executive officer now directly owns 102,193 shares in the company, valued at approximately $6,038,584.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James P. Shaughnessy sold 1,800 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $50.98, for a total value of $91,764.00. Following the completion of the transaction, the insider now owns 35,703 shares of the company’s stock, valued at $1,820,138.94. The disclosure for this sale can be found here. Insiders sold a total of 482,418 shares of company stock worth $25,524,100 over the last three months. 1.66% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DocuSign

Several institutional investors have recently bought and sold shares of DOCU. Gilbert & Cook Inc. lifted its stake in DocuSign by 7.7% in the 4th quarter. Gilbert & Cook Inc. now owns 8,497 shares of the company’s stock valued at $505,000 after acquiring an additional 604 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of DocuSign by 532.5% during the 4th quarter. Victory Capital Management Inc. now owns 139,255 shares of the company’s stock worth $8,279,000 after purchasing an additional 117,238 shares in the last quarter. Amalgamated Bank raised its stake in shares of DocuSign by 7.9% during the 4th quarter. Amalgamated Bank now owns 23,232 shares of the company’s stock worth $1,381,000 after purchasing an additional 1,696 shares in the last quarter. Metis Global Partners LLC bought a new stake in shares of DocuSign during the 4th quarter worth approximately $208,000. Finally, Private Advisor Group LLC raised its stake in shares of DocuSign by 64.3% during the 4th quarter. Private Advisor Group LLC now owns 26,122 shares of the company’s stock worth $1,553,000 after purchasing an additional 10,225 shares in the last quarter. Institutional investors own 77.64% of the company’s stock.

About DocuSign

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.