Docusign Inc. (NASDAQ:DOCU) Receives $85.13 Consensus Price Target from Analysts

Docusign Inc. (NASDAQ:DOCU) has been assigned a consensus recommendation of “Hold” from the twenty-two brokerages that are currently covering the firm, Marketbeat reports. Sixteen equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $85.1333.

A number of brokerages have recently issued reports on DOCU. Robert W. Baird reduced their target price on shares of Docusign from $90.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Zacks Research downgraded shares of Docusign from a “strong-buy” rating to a “hold” rating in a report on Monday, November 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Docusign in a report on Wednesday, December 17th. Bank of America cut their price target on Docusign from $102.00 to $82.00 and set a “neutral” rating for the company in a research note on Friday, December 5th. Finally, Wedbush lowered their price objective on Docusign from $85.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, December 5th.

Docusign Trading Up 0.3%

NASDAQ:DOCU opened at $57.66 on Tuesday. The stock has a 50 day simple moving average of $66.25 and a 200 day simple moving average of $71.48. The stock has a market cap of $11.55 billion, a P/E ratio of 40.32, a PEG ratio of 2.83 and a beta of 0.99. Docusign has a 1-year low of $55.46 and a 1-year high of $99.30.

Insiders Place Their Bets

In related news, insider James P. Shaughnessy sold 12,000 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $67.03, for a total transaction of $804,360.00. Following the sale, the insider owned 54,550 shares in the company, valued at approximately $3,656,486.50. This trade represents a 18.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Paula Hansen sold 6,000 shares of Docusign stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $67.05, for a total transaction of $402,300.00. Following the completion of the transaction, the executive directly owned 68,970 shares in the company, valued at $4,624,438.50. This trade represents a 8.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 78,292 shares of company stock valued at $5,374,260 over the last 90 days. 1.66% of the stock is owned by company insiders.

Hedge Funds Weigh In On Docusign

Several hedge funds and other institutional investors have recently modified their holdings of DOCU. Merit Financial Group LLC lifted its position in shares of Docusign by 9.0% during the 4th quarter. Merit Financial Group LLC now owns 16,940 shares of the company’s stock worth $1,159,000 after buying an additional 1,392 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Docusign by 6.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,282 shares of the company’s stock worth $361,000 after acquiring an additional 310 shares in the last quarter. CWM LLC boosted its stake in shares of Docusign by 151.8% in the 4th quarter. CWM LLC now owns 47,290 shares of the company’s stock valued at $3,235,000 after purchasing an additional 28,511 shares in the last quarter. Childress Capital Advisors LLC acquired a new stake in shares of Docusign in the 4th quarter valued at approximately $218,000. Finally, PFG Investments LLC grew its holdings in shares of Docusign by 9.4% during the 4th quarter. PFG Investments LLC now owns 4,659 shares of the company’s stock valued at $319,000 after purchasing an additional 402 shares during the last quarter. Institutional investors own 77.64% of the company’s stock.

Docusign Company Profile

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.