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

JMP Securities reiterated their market outperform rating on shares of DocuSign (NASDAQ:DOCU) in a report released on Thursday morning, Benzinga reports. They currently have a $84.00 price objective on the stock.

Other research analysts have also recently issued reports about the company. Robert W. Baird lowered their target price on DocuSign from $65.00 to $55.00 and set a neutral rating for the company in a research note on Friday, June 7th. Bank of America cut their target price on shares of DocuSign from $72.00 to $60.00 and set a neutral rating on the stock in a research note on Friday, June 7th. Needham & Company LLC reiterated a hold rating on shares of DocuSign in a research note on Friday, August 16th. Royal Bank of Canada dropped 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 report on Friday, June 7th. Finally, Citigroup decreased their price objective on shares of DocuSign from $93.00 to $86.00 and set a buy rating for the company in a research report on Wednesday, June 5th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, DocuSign currently has an average rating of Hold and an average target price of $61.45.

DocuSign Price Performance

Shares of DocuSign stock opened at $59.19 on Thursday. The stock has a market capitalization of $12.12 billion, a price-to-earnings ratio of 113.83, a price-to-earnings-growth ratio of 9.74 and a beta of 0.93. The business has a 50-day moving average of $55.44 and a 200 day moving average of $55.90. DocuSign has a 12 month low of $38.11 and a 12 month high of $64.76.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $727.20 million. During the same quarter in the previous year, the business posted $0.09 earnings per share. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. Equities research analysts anticipate that DocuSign will post 0.83 earnings per share for the current year.

Insider Activity

In other news, Director Daniel D. Springer sold 287,052 shares of DocuSign stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $53.78, for a total value of $15,437,656.56. Following the transaction, the director now directly owns 923,445 shares of the company’s stock, valued at approximately $49,662,872.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other DocuSign news, Director Daniel D. Springer sold 287,052 shares of DocuSign stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $53.78, for a total value of $15,437,656.56. Following the transaction, the director now directly owns 923,445 shares in the company, valued at $49,662,872.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider James P. Shaughnessy sold 1,800 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $50.98, for a total transaction of $91,764.00. Following the sale, the insider now owns 35,703 shares of the company’s stock, valued at approximately $1,820,138.94. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 482,418 shares of company stock valued at $25,524,100. 1.66% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On DocuSign

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Coatue Management LLC purchased a new stake in shares of DocuSign in the fourth quarter valued at about $288,274,000. Jericho Capital Asset Management L.P. boosted its holdings in DocuSign by 316.6% in the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,417,908 shares of the company’s stock valued at $203,536,000 after purchasing an additional 2,597,489 shares in the last quarter. Norges Bank acquired a new position in DocuSign during the 4th quarter worth approximately $133,826,000. Thrivent Financial for Lutherans purchased a new position in shares of DocuSign during the 2nd quarter worth approximately $115,795,000. Finally, Pacer Advisors Inc. lifted its holdings in shares of DocuSign by 77.9% in the 2nd quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock valued at $188,318,000 after buying an additional 1,541,816 shares during the period. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

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.