Wells Fargo & Company Issues Positive Forecast for DocuSign (NASDAQ:DOCU) Stock Price

DocuSign (NASDAQ:DOCU) had its price objective raised by equities researchers at Wells Fargo & Company from $70.00 to $73.00 in a report issued on Friday,Benzinga reports. The firm presently has an “underweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential downside of 14.66% from the company’s current price.

A number of other equities research analysts have also recently issued reports on the company. Morgan Stanley raised their target price on DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. HSBC reissued a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. Robert W. Baird boosted their price objective on DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Bank of America lowered their target price on DocuSign from $112.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Piper Sandler boosted their price target on DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, DocuSign presently has a consensus rating of “Hold” and an average price target of $96.25.

DocuSign Price Performance

DOCU traded up $10.84 on Friday, reaching $85.54. The company’s stock had a trading volume of 3,602,425 shares, compared to its average volume of 2,210,246. DocuSign has a 1 year low of $48.70 and a 1 year high of $107.86. The business’s 50 day moving average is $88.06 and its 200 day moving average is $79.04. The stock has a market cap of $17.28 billion, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02.

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

Insiders Place Their Bets

In other DocuSign news, CFO Blake Jeffrey Grayson sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $86.90, for a total value of $695,200.00. Following the sale, the chief financial officer now owns 77,851 shares in the company, valued at $6,765,251.90. This represents a 9.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $94.60, for a total value of $50,516.40. Following the sale, the director now directly owns 7,736 shares of the company’s stock, valued at $731,825.60. This represents a 6.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 104,422 shares of company stock valued at $9,665,394 in the last 90 days. 1.66% of the stock is currently owned by insiders.

Institutional Trading of DocuSign

A number of institutional investors have recently bought and sold shares of DOCU. Kestra Investment Management LLC acquired a new stake in shares of DocuSign during the 4th quarter worth $30,000. First Horizon Advisors Inc. increased its holdings in DocuSign by 102.6% in the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock valued at $36,000 after buying an additional 201 shares during the period. Modus Advisors LLC acquired a new position in shares of DocuSign in the 4th quarter valued at approximately $36,000. Wood Tarver Financial Group LLC bought a new stake in shares of DocuSign during the 4th quarter worth approximately $37,000. Finally, McIlrath & Eck LLC lifted its holdings in shares of DocuSign by 476.0% during the 4th quarter. McIlrath & Eck LLC now owns 432 shares of the company’s stock worth $39,000 after acquiring an additional 357 shares during the period. Institutional investors own 77.64% of the company’s stock.

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.