DocuSign’s (DOCU) Hold Rating Reaffirmed at Needham & Company LLC

DocuSign (NASDAQ:DOCU)‘s stock had its “hold” rating restated by research analysts at Needham & Company LLC in a research note issued to investors on Friday, Benzinga reports.

DOCU has been the subject of several other research reports. Piper Sandler lowered their price target on shares of DocuSign from $65.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, June 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $84.00 price target on shares of DocuSign in a research note on Thursday. Royal Bank of Canada reduced their price objective on shares of DocuSign from $59.00 to $52.00 and set a “sector perform” rating on the stock in a research note on Friday, June 7th. Bank of America lowered their target price on shares of DocuSign from $72.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, June 7th. Finally, Robert W. Baird lifted their price target on shares of DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, DocuSign currently has a consensus rating of “Hold” and a consensus target price of $59.73.

DocuSign Stock Performance

Shares of DOCU opened at $56.93 on Friday. The company has a market cap of $11.65 billion, a price-to-earnings ratio of 109.48, a PEG ratio of 9.74 and a beta of 0.93. The stock has a fifty day moving average price of $55.32 and a two-hundred day moving average price of $55.80. DocuSign has a 52-week low of $38.11 and a 52-week high of $64.76.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings data on Thursday, September 5th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. DocuSign had a net margin of 3.81% and a return on equity of 15.44%. The firm 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 firm earned $0.09 EPS. The company’s revenue was up 7.0% on a year-over-year basis. As a group, research analysts predict that DocuSign will post 0.83 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider James P. Shaughnessy sold 1,800 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $50.98, for a total value of $91,764.00. Following the sale, the insider now directly owns 35,703 shares in the company, valued at $1,820,138.94. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider James P. Shaughnessy sold 1,800 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $50.98, for a total transaction of $91,764.00. Following the completion of the transaction, the insider now directly owns 35,703 shares of the company’s stock, valued at approximately $1,820,138.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Allan C. Thygesen sold 7,725 shares of DocuSign stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $59.09, for a total transaction of $456,470.25. Following the completion of the sale, the chief executive officer now owns 102,193 shares in the company, valued at $6,038,584.37. The disclosure for this sale can be found here. Insiders have sold a total of 482,418 shares of company stock worth $25,524,100 over the last ninety days. Company insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On DocuSign

A number of large investors have recently modified their holdings of DOCU. Massmutual Trust Co. FSB ADV raised its holdings in DocuSign by 5,000.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after acquiring an additional 500 shares in the last quarter. Mather Group LLC. raised its stake in shares of DocuSign by 4,338.5% during the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after purchasing an additional 564 shares in the last quarter. Register Financial Advisors LLC acquired a new stake in shares of DocuSign in the 1st quarter valued at approximately $37,000. ICA Group Wealth Management LLC acquired a new stake in shares of DocuSign in the 4th quarter valued at approximately $39,000. Finally, nVerses Capital LLC bought a new position in shares of DocuSign in the second quarter valued at $48,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.

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.