Analysts Set DocuSign, Inc. (NASDAQ:DOCU) Target Price at $92.45

DocuSign, Inc. (NASDAQ:DOCU) has received an average recommendation of “Hold” from the thirteen ratings firms that are presently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $92.45.

Several research firms have recently issued reports on DOCU. JMP Securities boosted their price objective on shares of DocuSign from $108.00 to $124.00 and gave the stock a “market outperform” rating in a report on Friday, December 6th. Piper Sandler boosted their price target on DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Robert W. Baird lifted their price objective on DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Jefferies Financial Group upped their target price on DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Finally, Hsbc Global Res raised DocuSign to a “moderate sell” rating in a research report on Friday, December 6th.

DocuSign Trading Up 0.3 %

Shares of DocuSign stock opened at $94.41 on Monday. The company has a market cap of $19.07 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 8.72 and a beta of 0.92. DocuSign has a 1 year low of $48.70 and a 1 year high of $107.86. The company’s fifty day simple moving average is $80.84 and its 200-day simple moving average is $64.87.

Insider Buying and Selling

In other news, CEO Allan C. Thygesen sold 7,648 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $62.47, for a total transaction of $477,770.56. Following the completion of the sale, the chief executive officer now owns 115,589 shares of the company’s stock, valued at approximately $7,220,844.83. This trade represents a 6.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $94.60, for a total transaction of $50,516.40. Following the completion of the transaction, the director now owns 7,736 shares of the company’s stock, valued at $731,825.60. This trade represents a 6.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 660,737 shares of company stock worth $63,029,016 in the last quarter. 1.66% of the stock is owned by corporate insiders.

Institutional Trading of DocuSign

Hedge funds and other institutional investors have recently made changes to their positions in the business. Itau Unibanco Holding S.A. bought a new position in shares of DocuSign in the third quarter valued at about $28,000. Brooklyn Investment Group bought a new position in shares of DocuSign in the third quarter worth about $33,000. Reston Wealth Management LLC acquired a new position in shares of DocuSign during the third quarter worth approximately $47,000. nVerses Capital LLC acquired a new position in shares of DocuSign during the second quarter worth approximately $48,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of DocuSign during the third quarter valued at approximately $51,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.

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.