Docusign (NASDAQ:DOCU) released its quarterly earnings results on Thursday, September 5th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.24, Briefing.com reports. The firm had revenue of $235.61 million for the quarter, compared to analysts’ expectations of $220.81 million. Docusign had a negative net margin of 28.20% and a negative return on equity of 26.70%. The firm’s revenue for the quarter was up 41.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.03 EPS. Docusign updated its Q3 2020 guidance to EPS and its FY 2020 guidance to EPS.
NASDAQ DOCU traded up $0.56 on Friday, reaching $63.49. The stock had a trading volume of 56,819 shares, compared to its average volume of 3,732,308. The business’s 50-day moving average price is $48.48 and its 200 day moving average price is $52.36. Docusign has a 12-month low of $35.06 and a 12-month high of $64.18. The stock has a market cap of $10.54 billion, a P/E ratio of -21.89 and a beta of 1.37. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.76 and a current ratio of 1.64.
Several research analysts have recently commented on the company. FBN Securities set a $65.00 price target on Docusign and gave the stock a “buy” rating in a report on Friday, September 6th. Zacks Investment Research lowered shares of Docusign from a “hold” rating to a “sell” rating in a report on Wednesday. ValuEngine upgraded shares of Docusign from a “hold” rating to a “buy” rating in a report on Thursday, June 27th. DA Davidson boosted their price objective on shares of Docusign to $63.00 and gave the company a “buy” rating in a report on Friday, September 6th. Finally, Royal Bank of Canada started coverage on shares of Docusign in a report on Friday, September 6th. They issued an “outperform” rating and a $75.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $65.07.
In related news, insider Kirsten O. Wolberg sold 7,877 shares of the stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $50.93, for a total transaction of $401,175.61. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Scott V. Olrich sold 4,000 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $58.98, for a total value of $235,920.00. Insiders have sold 590,988 shares of company stock worth $30,606,261 in the last ninety days. 13.60% of the stock is currently owned by corporate insiders.
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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