DocuSign, Inc. (NASDAQ:DOCU) Receives $273.62 Consensus Price Target from Brokerages


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Shares of DocuSign, Inc. (NASDAQ:DOCU) have been assigned an average recommendation of “Buy” from the twenty-three analysts that are covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $273.62.

DOCU has been the subject of a number of recent research reports. Piper Sandler raised DocuSign from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $225.00 to $300.00 in a report on Monday, January 4th. Morgan Stanley upped their target price on DocuSign from $280.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, March 18th. Wells Fargo & Company reduced their target price on DocuSign from $230.00 to $210.00 and set an “equal weight” rating for the company in a report on Wednesday, March 31st. Wedbush upped their target price on DocuSign from $270.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday, February 17th. Finally, Citigroup assumed coverage on DocuSign in a research note on Wednesday, March 3rd. They issued a “buy” rating and a $282.00 price objective on the stock.

NASDAQ DOCU opened at $215.10 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.14. DocuSign has a twelve month low of $103.16 and a twelve month high of $290.23. The company has a market cap of $41.85 billion, a price-to-earnings ratio of -182.29 and a beta of 0.88. The business’s fifty day moving average is $214.54 and its 200 day moving average is $227.76.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings data on Wednesday, March 10th. The company reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.15. The company had revenue of $430.89 million for the quarter, compared to the consensus estimate of $407.95 million. DocuSign had a negative return on equity of 30.14% and a negative net margin of 16.83%. DocuSign’s revenue for the quarter was up 56.7% on a year-over-year basis. During the same quarter last year, the business posted $0.12 EPS. On average, research analysts anticipate that DocuSign will post -0.68 earnings per share for the current fiscal year.

In other news, CRO Loren Alhadeff sold 5,000 shares of the firm’s stock in a transaction dated Friday, February 12th. The stock was sold at an average price of $258.85, for a total transaction of $1,294,250.00. Following the transaction, the executive now directly owns 89,696 shares of the company’s stock, valued at $23,217,809.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Scott V. Olrich sold 5,800 shares of the firm’s stock in a transaction dated Wednesday, February 10th. The shares were sold at an average price of $256.69, for a total value of $1,488,802.00. Following the transaction, the chief operating officer now directly owns 208,346 shares in the company, valued at $53,480,334.74. The disclosure for this sale can be found here. In the last three months, insiders sold 36,552 shares of company stock worth $8,157,391. 5.06% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of DocuSign by 8.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,376,875 shares of the company’s stock valued at $481,198,000 after buying an additional 189,407 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of DocuSign by 36.1% during the fourth quarter. Jennison Associates LLC now owns 1,927,328 shares of the company’s stock worth $428,445,000 after purchasing an additional 511,088 shares during the period. Tiger Global Management LLC boosted its holdings in shares of DocuSign by 491.0% during the fourth quarter. Tiger Global Management LLC now owns 1,773,000 shares of the company’s stock worth $394,138,000 after purchasing an additional 1,473,000 shares during the period. Nikko Asset Management Americas Inc. boosted its holdings in shares of DocuSign by 19.9% during the first quarter. Nikko Asset Management Americas Inc. now owns 1,736,441 shares of the company’s stock worth $351,542,000 after purchasing an additional 288,465 shares during the period. Finally, Norges Bank purchased a new stake in shares of DocuSign during the fourth quarter worth about $367,316,000. 72.76% of the stock is currently owned by hedge funds and other institutional investors.

DocuSign Company Profile

DocuSign, Inc provides cloud based software in the United States and internationally. The company provides e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. It also offers DocuSign CLM, which automates workflows across the entire agreement process; Intelligent Insights that use artificial intelligence to search and analyze agreements by legal concepts and clauses; Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce; and Negotiate for Salesforce that supports for approvals, document comparisons, and version control.

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Analyst Recommendations for DocuSign (NASDAQ:DOCU)

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