DocuSign’s (DOCU) “Reduce” Rating Reaffirmed at HSBC

DocuSign (NASDAQ:DOCU)‘s stock had its “reduce” rating restated by research analysts at HSBC in a note issued to investors on Friday,Benzinga reports.

A number of other equities research analysts have also commented on DOCU. Robert W. Baird upped their price objective on shares of DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday. Citigroup increased their target price on shares of DocuSign from $87.00 to $113.00 and gave the stock a “buy” rating in a research note on Friday. Piper Sandler increased their target price on shares of DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday. Jefferies Financial Group increased their target price on shares of DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, JMP Securities upped 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. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $92.45.

DocuSign Price Performance

DOCU stock traded up $22.20 during trading on Friday, reaching $105.88. 16,621,148 shares of the company were exchanged, compared to its average volume of 2,934,783. The company has a 50-day moving average of $73.75 and a two-hundred day moving average of $61.68. The company has a market capitalization of $21.49 billion, a price-to-earnings ratio of 22.51, a P/E/G ratio of 8.33 and a beta of 0.92. DocuSign has a twelve month low of $44.34 and a twelve month high of $107.86.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The business had revenue of $736.03 million during the quarter, compared to analysts’ expectations of $727.20 million. During the same period in the prior year, the company earned $0.09 EPS. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, analysts forecast that DocuSign will post 1.03 EPS for the current year.

Insider Buying and Selling

In related news, insider Robert Chatwani sold 14,799 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total transaction of $820,752.54. Following the completion of the sale, the insider now owns 70,748 shares in the company, valued at approximately $3,923,684.08. This trade represents a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Allan C. Thygesen sold 7,763 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $80.54, for a total transaction of $625,232.02. Following the transaction, the chief executive officer now owns 100,062 shares of the company’s stock, valued at $8,058,993.48. This represents a 7.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,596 shares of company stock worth $4,441,529. Insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On DocuSign

A number of large investors have recently modified their holdings of DOCU. Itau Unibanco Holding S.A. bought a new stake in DocuSign during the third quarter valued at approximately $28,000. Brooklyn Investment Group bought a new stake in DocuSign during the third quarter valued at approximately $33,000. Mather Group LLC. lifted its position in DocuSign by 4,338.5% during 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 last quarter. Reston Wealth Management LLC bought a new stake in DocuSign during the third quarter valued at approximately $47,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in DocuSign during the third quarter valued at approximately $51,000. 77.64% of the stock is currently owned by 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.