DocuSign (NASDAQ:DOCU) Reaches New 12-Month High – Should You Buy?

DocuSign, Inc. (NASDAQ:DOCU) hit a new 52-week high during trading on Wednesday . The stock traded as high as $74.42 and last traded at $73.98, with a volume of 69148 shares. The stock had previously closed at $72.25.

Wall Street Analysts Forecast Growth

DOCU has been the subject of several research analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. Wells Fargo & Company lifted their target price on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. Bank of America boosted their price target on DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Citigroup boosted their price target on DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, Robert W. Baird upped their target price on DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $63.40.

DocuSign Stock Performance

The business has a fifty day moving average price of $64.01 and a 200 day moving average price of $58.36. The company has a market cap of $15.52 billion, a price-to-earnings ratio of 16.13, a PEG ratio of 7.39 and a beta of 0.90.

DocuSign (NASDAQ:DOCU) last announced its earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.80 by $0.17. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The company had revenue of $736.03 million for the quarter, compared to analyst estimates of $727.20 million. During the same quarter in the prior year, the company earned $0.09 EPS. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, equities analysts anticipate that DocuSign, Inc. will post 1.01 EPS for the current year.

Insiders Place Their Bets

In other DocuSign news, CEO Allan C. Thygesen sold 7,725 shares of the 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 transaction, the chief executive officer now owns 102,193 shares in the company, valued at approximately $6,038,584.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Allan C. Thygesen sold 7,725 shares of the 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 sale, the chief executive officer now directly owns 102,193 shares of the company’s stock, valued at $6,038,584.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Teresa Briggs sold 534 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $56.56, for a total value of $30,203.04. Following the completion of the sale, the director now directly owns 7,202 shares of the company’s stock, valued at approximately $407,345.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,558 shares of company stock worth $4,272,768. Corporate insiders own 1.66% of the company’s stock.

Institutional Trading of DocuSign

A number of institutional investors and hedge funds have recently modified their holdings of the business. J.W. Cole Advisors Inc. increased its position in shares of DocuSign by 2.0% during the third quarter. J.W. Cole Advisors Inc. now owns 7,946 shares of the company’s stock valued at $493,000 after acquiring an additional 155 shares during the last quarter. Resonant Capital Advisors LLC lifted its position in shares of DocuSign by 0.9% during the 3rd quarter. Resonant Capital Advisors LLC now owns 17,516 shares of the company’s stock valued at $1,088,000 after buying an additional 157 shares during the last quarter. V Square Quantitative Management LLC grew its stake in shares of DocuSign by 6.0% during the 3rd quarter. V Square Quantitative Management LLC now owns 3,019 shares of the company’s stock worth $187,000 after acquiring an additional 172 shares during the period. Dakota Wealth Management increased its holdings in DocuSign by 0.8% in the 2nd quarter. Dakota Wealth Management now owns 23,022 shares of the company’s stock worth $1,232,000 after acquiring an additional 181 shares during the last quarter. Finally, Covestor Ltd increased its stake in shares of DocuSign by 5.8% in the third quarter. Covestor Ltd now owns 3,306 shares of the company’s stock worth $205,000 after purchasing an additional 182 shares in the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

DocuSign Company Profile

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.