Brokerages Set Docusign Inc. (NASDAQ:DOCU) PT at $60.27

Docusign Inc. (NASDAQ:DOCU) has been given a consensus recommendation of “Hold” by the nineteen research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, fifteen have given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $60.2667.

Several brokerages have weighed in on DOCU. Weiss Ratings upgraded Docusign from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday. Citigroup raised their price objective on Docusign from $50.00 to $54.00 and gave the stock a “neutral” rating in a report on Friday, June 5th. BTIG Research decreased their price objective on Docusign from $70.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, June 5th. Wedbush lowered their price objective on Docusign from $60.00 to $58.00 and set a “neutral” rating for the company in a research report on Friday, June 5th. Finally, Jefferies Financial Group upped their target price on Docusign from $45.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, June 5th.

Docusign Price Performance

Shares of NASDAQ DOCU opened at $52.74 on Tuesday. The company has a market cap of $10.07 billion, a PE ratio of 34.25, a price-to-earnings-growth ratio of 1.55 and a beta of 0.90. Docusign has a 12 month low of $40.16 and a 12 month high of $86.65. The company has a 50-day simple moving average of $47.44 and a 200-day simple moving average of $49.53.

Docusign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, June 4th. The company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.10. Docusign had a net margin of 9.59% and a return on equity of 17.48%. The business had revenue of $830.24 million during the quarter, compared to analyst estimates of $824.71 million. During the same quarter in the previous year, the business posted $0.90 earnings per share. The company’s revenue was up 8.7% on a year-over-year basis. On average, analysts anticipate that Docusign will post 2.03 EPS for the current year.

Insider Transactions at Docusign

In other Docusign news, insider Robert Chatwani sold 15,902 shares of Docusign stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $43.01, for a total value of $683,945.02. Following the completion of the sale, the insider owned 72,805 shares in the company, valued at $3,131,343.05. The trade was a 17.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Paula Hansen sold 6,000 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $45.54, for a total transaction of $273,240.00. Following the transaction, the executive directly owned 89,972 shares of the company’s stock, valued at approximately $4,097,324.88. This represents a 6.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 76,695 shares of company stock worth $3,476,002 in the last quarter. 0.59% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Docusign

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Docusign in the 4th quarter valued at about $186,795,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Docusign by 76.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,285,128 shares of the company’s stock worth $250,568,000 after purchasing an additional 2,283,996 shares during the period. Capital World Investors increased its position in Docusign by 38.1% during the 4th quarter. Capital World Investors now owns 5,815,804 shares of the company’s stock worth $397,801,000 after purchasing an additional 1,603,900 shares in the last quarter. SG Americas Securities LLC increased its position in Docusign by 452.3% during the 1st quarter. SG Americas Securities LLC now owns 1,314,632 shares of the company’s stock worth $62,327,000 after purchasing an additional 1,076,622 shares in the last quarter. Finally, Woodline Partners LP increased its position in Docusign by 24,412.7% during the 3rd quarter. Woodline Partners LP now owns 958,938 shares of the company’s stock worth $69,130,000 after purchasing an additional 955,026 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

About Docusign

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.