DocuSign (NASDAQ:DOCU) Price Target Raised to $100.00 at UBS Group

DocuSign (NASDAQ:DOCU) had its price objective upped by UBS Group from $60.00 to $100.00 in a report issued on Friday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research analysts have also recently commented on DOCU. Piper Sandler increased their target price on DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday. Robert W. Baird raised their target price on DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday. JPMorgan Chase & Co. increased their price target on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a report on Tuesday. Wells Fargo & Company boosted their price objective on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a report on Friday. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $90.00 target price (up from $57.00) on shares of DocuSign in a report on Friday. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $92.45.

DocuSign Trading Up 27.9 %

Shares of DocuSign stock opened at $106.99 on Friday. The firm has a market capitalization of $21.72 billion, a PE ratio of 22.57, a price-to-earnings-growth ratio of 8.33 and a beta of 0.92. The firm’s 50 day moving average is $74.66 and its 200 day moving average is $62.00. DocuSign has a 1 year low of $44.34 and a 1 year high of $107.86.

DocuSign (NASDAQ:DOCU) last issued its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. The business had revenue of $736.03 million during the quarter, compared to the consensus estimate of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 earnings per share. As a group, research analysts anticipate that DocuSign will post 1.03 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider James P. Shaughnessy sold 7,500 shares of DocuSign stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $67.83, for a total value of $508,725.00. Following the completion of the sale, the insider now owns 43,301 shares in the company, valued at approximately $2,937,106.83. This trade represents a 14.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert Chatwani sold 14,799 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $55.46, for a total value of $820,752.54. Following the transaction, the insider now directly owns 70,748 shares in the company, valued at approximately $3,923,684.08. The trade was a 17.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,596 shares of company stock valued at $4,441,529. Insiders own 1.66% of the company’s stock.

Institutional Trading of DocuSign

Several hedge funds have recently added to or reduced their stakes in DOCU. J.W. Cole Advisors Inc. increased its position in shares of DocuSign by 2.0% during the third quarter. J.W. Cole Advisors Inc. now owns 7,946 shares of the company’s stock worth $493,000 after purchasing an additional 155 shares in the last quarter. Resonant Capital Advisors LLC boosted its stake in DocuSign by 0.9% during the 3rd quarter. Resonant Capital Advisors LLC now owns 17,516 shares of the company’s stock worth $1,088,000 after purchasing an additional 157 shares during the period. Optimist Retirement Group LLC grew its position in DocuSign by 3.8% during the 3rd quarter. Optimist Retirement Group LLC now owns 4,416 shares of the company’s stock worth $274,000 after purchasing an additional 161 shares during the last quarter. V Square Quantitative Management LLC increased its stake in DocuSign by 6.0% in the third quarter. V Square Quantitative Management LLC now owns 3,019 shares of the company’s stock valued at $187,000 after purchasing an additional 172 shares during the period. Finally, Dakota Wealth Management raised its holdings in shares of DocuSign by 0.8% in the second quarter. Dakota Wealth Management now owns 23,022 shares of the company’s stock valued at $1,232,000 after buying an additional 181 shares during the last quarter. Institutional investors and hedge funds 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.