Wells Fargo & Company Boosts DocuSign (NASDAQ:DOCU) Price Target to $50.00

DocuSign (NASDAQ:DOCU) had its target price boosted by Wells Fargo & Company from $48.00 to $50.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “underweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential downside of 12.17% from the company’s current price.

Other analysts also recently issued research reports about the stock. Bank of America decreased their price objective on shares of 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 shares of DocuSign from $65.00 to $62.00 and set an “equal weight” rating for the company in a research note on Friday, June 7th. Royal Bank of Canada reduced their target price on shares of DocuSign from $59.00 to $52.00 and set a “sector perform” rating for the company in a research note on Friday, June 7th. JMP Securities reiterated a “market outperform” rating and issued a $84.00 target price on shares of DocuSign in a research note on Thursday. Finally, Citigroup reduced their target price on shares of DocuSign from $93.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, June 5th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $60.18.

DocuSign Stock Performance

NASDAQ DOCU opened at $56.93 on Friday. DocuSign has a 52-week low of $38.11 and a 52-week high of $64.76. The company has a 50-day simple moving average of $55.32 and a 200 day simple moving average of $55.80. The company has a market capitalization of $11.65 billion, a PE ratio of 109.48, a price-to-earnings-growth ratio of 9.74 and a beta of 0.93.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.97 earnings per share (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 business had revenue of $736.03 million during the quarter, compared to the consensus estimate of $727.20 million. During the same quarter last year, the company posted $0.09 earnings per share. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, analysts forecast that DocuSign will post 0.83 EPS for the current fiscal year.

Insider Activity at DocuSign

In related news, CEO Allan C. Thygesen sold 7,911 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $53.77, for a total transaction of $425,374.47. Following the completion of the transaction, the chief executive officer now owns 117,643 shares of the company’s stock, valued at $6,325,664.11. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other DocuSign news, Director Daniel D. Springer sold 70,983 shares of DocuSign stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $49.84, for a total transaction of $3,537,792.72. Following the completion of the sale, the director now directly owns 891,373 shares in the company, valued at $44,426,030.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Allan C. Thygesen sold 7,911 shares of DocuSign stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $53.77, for a total transaction of $425,374.47. Following the sale, the chief executive officer now owns 117,643 shares of the company’s stock, valued at $6,325,664.11. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 482,418 shares of company stock valued at $25,524,100. Corporate insiders own 1.66% of the company’s stock.

Institutional Investors Weigh In On DocuSign

Hedge funds have recently bought and sold shares of the stock. Massmutual Trust Co. FSB ADV lifted its position in DocuSign by 5,000.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock valued at $27,000 after purchasing an additional 500 shares during the last quarter. Mather Group LLC. lifted its position in DocuSign by 4,338.5% during the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock valued at $31,000 after purchasing an additional 564 shares during the last quarter. Register Financial Advisors LLC bought a new stake in DocuSign during the first quarter valued at approximately $37,000. ICA Group Wealth Management LLC bought a new stake in DocuSign during the fourth quarter valued at approximately $39,000. Finally, nVerses Capital LLC bought a new stake in DocuSign during the second quarter valued at approximately $48,000. 77.64% of the stock is currently owned by institutional investors.

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.