Docusign (NASDAQ:DOCU) had its price objective raised by Citigroup from $60.00 to $72.00 in a research report issued to clients and investors on Friday, September 6th, Marketbeat reports. The brokerage presently has a “buy” rating on the stock. Citigroup‘s price objective suggests a potential upside of 14.41% from the company’s current price.
DOCU has been the subject of a number of other reports. Zacks Investment Research downgraded Docusign from a “buy” rating to a “hold” rating in a report on Monday, July 29th. FBN Securities initiated coverage on Docusign in a report on Tuesday, July 9th. They issued an “outperform” rating and a $60.00 target price for the company. DA Davidson boosted their price objective on Docusign to $63.00 and gave the company a “buy” rating in a report on Friday, September 6th. William Blair restated an “outperform” rating on shares of Docusign in a report on Friday, June 7th. Finally, Royal Bank of Canada initiated coverage on Docusign in a report on Friday, September 6th. They set an “outperform” rating and a $75.00 price objective for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $65.07.
NASDAQ:DOCU opened at $62.93 on Friday. The stock’s 50-day simple moving average is $48.48 and its 200 day simple moving average is $52.36. Docusign has a twelve month low of $35.06 and a twelve month high of $64.18. The firm has a market capitalization of $10.54 billion, a PE ratio of -21.70 and a beta of 1.37. The company has a quick ratio of 1.76, a current ratio of 1.64 and a debt-to-equity ratio of 1.06.
Docusign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.01 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.24. The firm had revenue of $235.61 million for the quarter, compared to analyst estimates of $220.81 million. Docusign had a negative return on equity of 26.70% and a negative net margin of 28.20%. The business’s revenue for the quarter was up 41.0% on a year-over-year basis. During the same period last year, the firm posted $0.03 earnings per share. On average, analysts anticipate that Docusign will post -1.04 EPS for the current fiscal year.
In other Docusign news, COO Scott V. Olrich sold 2,000 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $59.50, for a total value of $119,000.00. Also, CRO Loren Alhadeff sold 11,579 shares of the company’s stock in a transaction dated Wednesday, June 19th. The stock was sold at an average price of $53.12, for a total value of $615,076.48. The disclosure for this sale can be found here. Insiders have sold a total of 590,988 shares of company stock worth $30,606,261 in the last ninety days. Insiders own 13.60% of the company’s stock.
Several institutional investors have recently made changes to their positions in DOCU. Wealthcare Advisory Partners LLC bought a new position in shares of Docusign during the 2nd quarter valued at about $36,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Docusign by 261.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 769 shares of the company’s stock worth $38,000 after buying an additional 556 shares during the period. Rehmann Capital Advisory Group lifted its holdings in Docusign by 226.1% in the 1st quarter. Rehmann Capital Advisory Group now owns 874 shares of the company’s stock worth $45,000 after buying an additional 606 shares during the period. FNY Investment Advisers LLC purchased a new stake in Docusign in the 2nd quarter worth approximately $47,000. Finally, Regal Wealth Group Inc. purchased a new stake in Docusign in the 2nd quarter worth approximately $50,000. Hedge funds and other institutional investors own 69.76% of the company’s stock.
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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