DocuSign (NASDAQ:DOCU) Earns Market Outperform Rating from JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of DocuSign (NASDAQ:DOCU) in a research report released on Wednesday morning, Benzinga reports. JMP Securities currently has a $84.00 price objective on the stock.

Other analysts have also issued research reports about the company. Royal Bank of Canada reduced their target price on DocuSign from $59.00 to $52.00 and set a sector perform rating for the company in a report on Friday, June 7th. Bank of America reduced their target price on DocuSign from $72.00 to $60.00 and set a neutral rating for the company in a report on Friday, June 7th. Morgan Stanley reduced their target price on DocuSign from $65.00 to $62.00 and set an equal weight rating for the company in a report on Friday, June 7th. Piper Sandler reduced their target price on DocuSign from $65.00 to $60.00 and set a neutral rating for the company in a report on Friday, June 7th. Finally, Citigroup reduced their target price on DocuSign from $93.00 to $86.00 and set a buy rating for the company in a report on Wednesday, June 5th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and an average price target of $59.36.

DocuSign Stock Up 3.8 %

DOCU opened at $56.38 on Wednesday. The firm has a market cap of $11.54 billion, a PE ratio of 108.43, a P/E/G ratio of 4.47 and a beta of 0.94. The business has a fifty day simple moving average of $55.02 and a 200-day simple moving average of $56.39. DocuSign has a fifty-two week low of $38.11 and a fifty-two week high of $64.76.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings data on Thursday, June 6th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.09. The business had revenue of $709.64 million during the quarter, compared to analyst estimates of $706.07 million. DocuSign had a return on equity of 15.44% and a net margin of 3.81%. On average, equities research analysts anticipate that DocuSign will post 0.88 EPS for the current fiscal year.

Insider Activity

In related news, CEO Allan C. Thygesen sold 8,086 shares of DocuSign stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $56.16, for a total transaction of $454,109.76. Following the sale, the chief executive officer now directly owns 99,546 shares of the company’s stock, valued at $5,590,503.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Allan C. Thygesen sold 8,086 shares of DocuSign stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $56.16, for a total transaction of $454,109.76. Following the sale, the chief executive officer now directly owns 99,546 shares of the company’s stock, valued at $5,590,503.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Allan C. Thygesen sold 7,911 shares of DocuSign stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $53.77, for a total value of $425,374.47. Following the sale, the chief executive officer now directly owns 117,643 shares in the company, valued at $6,325,664.11. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 117,518 shares of company stock valued at $6,149,670. 1.66% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. New York State Teachers Retirement System raised its stake in shares of DocuSign by 0.9% in the fourth quarter. New York State Teachers Retirement System now owns 18,282 shares of the company’s stock valued at $1,087,000 after acquiring an additional 163 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of DocuSign by 2.7% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,975 shares of the company’s stock valued at $415,000 after acquiring an additional 184 shares during the last quarter. Whittier Trust Co. raised its stake in shares of DocuSign by 28.8% in the fourth quarter. Whittier Trust Co. now owns 935 shares of the company’s stock valued at $56,000 after acquiring an additional 209 shares during the last quarter. Motley Fool Asset Management LLC raised its stake in shares of DocuSign by 6.0% in the first quarter. Motley Fool Asset Management LLC now owns 3,960 shares of the company’s stock valued at $236,000 after acquiring an additional 224 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of DocuSign by 0.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 83,899 shares of the company’s stock valued at $4,617,000 after acquiring an additional 239 shares during the last quarter. Institutional investors own 77.64% of the company’s stock.

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.