Needham & Company LLC Reiterates “Hold” Rating for DocuSign (NASDAQ:DOCU)

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

DOCU has been the topic of several other research reports. Wedbush reaffirmed a “neutral” rating and issued a $100.00 price target on shares of DocuSign in a report on Friday, March 14th. Bank of America dropped their target price on shares of DocuSign from $112.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 price target on shares of DocuSign in a report on Friday, March 14th. JMP Securities reaffirmed a “market outperform” rating and set a $124.00 price target on shares of DocuSign in a research note on Tuesday, January 7th. Finally, UBS Group reduced their price objective on DocuSign from $100.00 to $90.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $93.46.

DocuSign Stock Performance

Shares of DOCU opened at $76.39 on Thursday. DocuSign has a 52-week low of $48.70 and a 52-week high of $107.86. The stock’s 50-day simple moving average is $81.91 and its 200 day simple moving average is $82.91. The stock has a market capitalization of $15.47 billion, a price-to-earnings ratio of 15.75, a price-to-earnings-growth ratio of 6.94 and a beta of 1.20.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings data on Thursday, March 13th. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. The company had revenue of $776.25 million during the quarter, compared to analyst estimates of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. DocuSign’s revenue was up 9.0% compared to the same quarter last year. During the same period last year, the business earned $0.76 earnings per share. On average, research analysts forecast that DocuSign will post 1.17 earnings per share for the current fiscal year.

Insider Activity at DocuSign

In other DocuSign news, insider James P. Shaughnessy sold 7,500 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $81.31, for a total value of $609,825.00. Following the completion of the transaction, the insider now owns 45,875 shares of the company’s stock, valued at approximately $3,730,096.25. The trade was a 14.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert Chatwani sold 15,706 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $83.19, for a total transaction of $1,306,582.14. Following the transaction, the insider now owns 76,842 shares in the company, valued at $6,392,485.98. This represents a 16.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,851 shares of company stock valued at $4,607,439 in the last 90 days. Corporate insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in DOCU. Kestra Investment Management LLC purchased a new stake in DocuSign during the 4th quarter valued at $30,000. Modus Advisors LLC bought a new position in DocuSign in the fourth quarter valued at about $36,000. First Horizon Advisors Inc. boosted its position in DocuSign by 102.6% in the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock worth $36,000 after purchasing an additional 201 shares during the last quarter. Wood Tarver Financial Group LLC bought a new stake in shares of DocuSign during the 4th quarter valued at about $37,000. Finally, MassMutual Private Wealth & Trust FSB increased its position in shares of DocuSign by 153.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 453 shares of the company’s stock valued at $37,000 after purchasing an additional 274 shares during the last quarter. 77.64% of the stock is owned by hedge funds and other 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.