DocuSign, Inc. (NASDAQ:DOCU) Given Consensus Recommendation of “Hold” by Brokerages

Shares of DocuSign, Inc. (NASDAQ:DOCU) have received an average recommendation of “Hold” from the eleven ratings firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $65.80.

Several brokerages have recently issued reports on DOCU. Citigroup lifted their price objective on DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Bank of America lifted their price objective on DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. Wells Fargo & Company lifted their price objective on DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Finally, JMP Securities lifted their price objective on DocuSign from $84.00 to $108.00 and gave the company a “market outperform” rating in a research note on Friday, November 22nd.

Insider Buying and Selling

In other DocuSign news, CEO Allan C. Thygesen sold 7,764 shares of DocuSign stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $69.95, for a total transaction of $543,091.80. Following the transaction, the chief executive officer now owns 107,825 shares of the company’s stock, valued at $7,542,358.75. The trade was a 6.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Blake Jeffrey Grayson sold 14,036 shares of DocuSign stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $55.47, for a total value of $778,576.92. Following the transaction, the chief financial officer now directly owns 87,611 shares in the company, valued at approximately $4,859,782.17. This trade represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,558 shares of company stock worth $4,272,768 over the last 90 days. 1.66% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new position in shares of DocuSign in the third quarter valued at approximately $28,000. Massmutual Trust Co. FSB ADV increased its holdings in shares of DocuSign by 5,000.0% in 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 period. Brooklyn Investment Group acquired a new position in shares of DocuSign in the third quarter valued at approximately $33,000. Mather Group LLC. increased its holdings in shares of DocuSign by 4,338.5% in 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 period. Finally, Reston Wealth Management LLC acquired a new position in shares of DocuSign in the third quarter valued at approximately $47,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

DocuSign Price Performance

Shares of DocuSign stock opened at $80.38 on Thursday. The business has a 50-day moving average of $71.11 and a 200 day moving average of $60.79. DocuSign has a 12 month low of $42.13 and a 12 month high of $86.75. The stock has a market capitalization of $16.31 billion, a price-to-earnings ratio of 16.96, a price-to-earnings-growth ratio of 9.05 and a beta of 0.90.

DocuSign (NASDAQ:DOCU) last announced its earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The company had revenue of $736.03 million during the quarter, compared to analysts’ expectations of $727.20 million. During the same period last year, the business posted $0.09 EPS. DocuSign’s revenue for the quarter was up 7.0% on a year-over-year basis. Equities research analysts anticipate that DocuSign will post 1.01 earnings per share for the current year.

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.