Jefferies Financial Group Issues Pessimistic Forecast for DocuSign (NASDAQ:DOCU) Stock Price

DocuSign (NASDAQ:DOCU) had its price objective reduced by Jefferies Financial Group from $115.00 to $105.00 in a research report released on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also issued reports on the company. JPMorgan Chase & Co. raised DocuSign from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $70.00 to $75.00 in a report on Monday, March 10th. Piper Sandler lifted their price objective on shares of DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Wells Fargo & Company increased their target price on shares of DocuSign from $70.00 to $73.00 and gave the company an “underweight” rating in a research note on Friday, March 14th. Royal Bank of Canada restated a “sector perform” rating and issued a $90.00 price target on shares of DocuSign in a research report on Friday, March 14th. Finally, HSBC reiterated a “reduce” rating on shares of DocuSign in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $95.83.

DocuSign Trading Up 0.9 %

Shares of NASDAQ:DOCU opened at $83.40 on Monday. The company has a 50 day moving average of $86.67 and a 200-day moving average of $81.91. The firm has a market cap of $16.89 billion, a P/E ratio of 17.20, a P/E/G ratio of 6.94 and a beta of 1.02. DocuSign has a twelve month low of $48.70 and a twelve month high of $107.86.

DocuSign (NASDAQ:DOCU) last announced its earnings results on Thursday, March 13th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.84 by $0.02. The firm had revenue of $776.25 million for the quarter, compared to analysts’ expectations of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.76 earnings per share. Equities research analysts forecast that DocuSign will post 1.17 EPS for the current year.

Insiders Place Their Bets

In other news, Director Peter Solvik sold 10,000 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $91.26, for a total transaction of $912,600.00. Following the completion of the sale, the director now directly owns 150,253 shares of the company’s stock, valued at $13,712,088.78. This trade represents a 6.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $87.41, for a total transaction of $46,676.94. Following the transaction, the director now directly owns 8,270 shares in the company, valued at approximately $722,880.70. The trade was a 6.07 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 57,851 shares of company stock worth $4,911,319. 1.66% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of DOCU. The Manufacturers Life Insurance Company boosted its holdings in DocuSign by 2.4% during the third quarter. The Manufacturers Life Insurance Company now owns 53,508 shares of the company’s stock valued at $3,322,000 after acquiring an additional 1,248 shares during the period. FMR LLC lifted its position in shares of DocuSign by 16.8% during the 3rd quarter. FMR LLC now owns 2,192,885 shares of the company’s stock worth $136,156,000 after purchasing an additional 315,073 shares during the last quarter. Townsquare Capital LLC boosted its stake in DocuSign by 3.7% during the 3rd quarter. Townsquare Capital LLC now owns 5,103 shares of the company’s stock valued at $317,000 after purchasing an additional 183 shares during the period. Freedom Investment Management Inc. acquired a new stake in DocuSign in the 3rd quarter valued at approximately $201,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in DocuSign by 14.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,659,367 shares of the company’s stock worth $103,030,000 after buying an additional 208,813 shares during the period. Institutional investors own 77.64% of the company’s stock.

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.