DocuSign (NASDAQ:DOCU) PT Raised to $68.00 at Bank of America

DocuSign (NASDAQ:DOCU) had its price objective upped by Bank of America from $60.00 to $68.00 in a report published on Friday, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Wells Fargo & Company raised their target price on DocuSign from $48.00 to $50.00 and gave the company an underweight rating in a report on Friday. Needham & Company LLC reaffirmed a hold rating on shares of DocuSign in a report on Friday. Piper Sandler decreased their target price on shares of DocuSign from $65.00 to $60.00 and set a neutral rating on the stock in a research note on Friday, June 7th. Robert W. Baird boosted their price objective on DocuSign from $55.00 to $59.00 and gave the stock a neutral rating in a research report on Friday. Finally, Morgan Stanley dropped their target price on DocuSign from $65.00 to $62.00 and set an equal weight rating for the company in a research report on Friday, June 7th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $61.45.

DocuSign Stock Up 4.0 %

Shares of DocuSign stock opened at $59.19 on Friday. The stock has a market capitalization of $12.12 billion, a price-to-earnings ratio of 113.83, a price-to-earnings-growth ratio of 9.74 and a beta of 0.93. DocuSign has a twelve month low of $38.11 and a twelve month high of $64.76. The company has a 50-day simple moving average of $55.44 and a two-hundred day simple moving average of $55.86.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. The company had revenue of $736.03 million during the quarter, compared to the consensus estimate of $727.20 million. DocuSign had a net margin of 3.81% and a return on equity of 15.44%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.09 earnings per share. On average, sell-side analysts anticipate that DocuSign will post 0.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Allan C. Thygesen sold 7,725 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $59.09, for a total transaction of $456,470.25. Following the completion of the sale, the chief executive officer now directly owns 102,193 shares in the company, valued at $6,038,584.37. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Allan C. Thygesen sold 7,725 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $59.09, for a total value of $456,470.25. Following the transaction, the chief executive officer now directly owns 102,193 shares of the company’s stock, valued at approximately $6,038,584.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James P. Shaughnessy sold 1,800 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $50.98, for a total value of $91,764.00. Following the sale, the insider now directly owns 35,703 shares of the company’s stock, valued at approximately $1,820,138.94. The disclosure for this sale can be found here. In the last 90 days, insiders sold 482,418 shares of company stock worth $25,524,100. 1.66% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Coatue Management LLC acquired a new position in shares of DocuSign during the fourth quarter worth approximately $288,274,000. Jericho Capital Asset Management L.P. raised its holdings in DocuSign by 316.6% during the first quarter. Jericho Capital Asset Management L.P. now owns 3,417,908 shares of the company’s stock worth $203,536,000 after buying an additional 2,597,489 shares during the last quarter. Norges Bank bought a new position in shares of DocuSign in the fourth quarter valued at $133,826,000. Thrivent Financial for Lutherans acquired a new position in shares of DocuSign during the second quarter valued at about $115,795,000. Finally, Pacer Advisors Inc. increased its position in shares of DocuSign by 77.9% during the second quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock worth $188,318,000 after acquiring an additional 1,541,816 shares in the last quarter. 77.64% of the stock is owned by institutional investors.

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.