Zacks Investment Research upgraded shares of Docusign (NASDAQ:DOCU) from a hold rating to a buy rating in a research report released on Monday. Zacks Investment Research currently has $64.00 price target on the stock.

According to Zacks, “DocuSign Inc. provides e-signature solutions. The Company offers services to mortgage, non-profit, government, real estate, insurance, technology and healthcare industries. Its product portfolio includes trial, single-user, multi-user, business pro, enterprise pro, standards-based signatures, ehanko, DocuSign transaction rooms for real estate, DocuSign payments and enotary. DocuSign Inc. is based in San Francisco, United States. “

A number of other equities analysts also recently commented on DOCU. JPMorgan Chase & Co. initiated coverage on shares of Docusign in a report on Tuesday, May 22nd. They set an overweight rating and a $53.00 price objective for the company. Deutsche Bank initiated coverage on shares of Docusign in a report on Tuesday, May 22nd. They set a hold rating and a $45.00 price objective for the company. Piper Jaffray Companies initiated coverage on shares of Docusign in a report on Tuesday, May 22nd. They set an overweight rating and a $52.00 price objective for the company. Citigroup initiated coverage on shares of Docusign in a report on Tuesday, May 22nd. They set a buy rating and a $59.00 price objective for the company. Finally, JMP Securities initiated coverage on shares of Docusign in a report on Tuesday, May 22nd. They set an outperform rating and a $52.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of Hold and an average target price of $62.33.

NASDAQ:DOCU opened at $55.37 on Monday. Docusign has a 52 week low of $37.00 and a 52 week high of $68.35.

Docusign (NASDAQ:DOCU) last released its quarterly earnings data on Wednesday, September 5th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The business had revenue of $167.04 million for the quarter, compared to the consensus estimate of $158.70 million. The firm’s revenue for the quarter was up 33.1% on a year-over-year basis. equities research analysts expect that Docusign will post -2.46 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp bought a new position in Docusign during the 2nd quarter valued at about $3,295,000. Bain Capital Public Equity Management LLC bought a new position in Docusign during the 2nd quarter valued at about $343,705,000. Public Employees Retirement System of Ohio bought a new position in Docusign during the 2nd quarter valued at about $2,630,000. California Public Employees Retirement System bought a new position in Docusign during the 2nd quarter valued at about $263,000. Finally, Putnam Investments LLC bought a new position in Docusign during the 2nd quarter valued at about $30,068,000. 34.13% of the stock is owned by hedge funds and other institutional investors.

About Docusign

DocuSign, Inc provides cloud based transaction products and services in the United States. The company offers e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. It serves large enterprises, sole proprietorships, small- to medium-sized businesses, professionals, and individuals.

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Analyst Recommendations for Docusign (NASDAQ:DOCU)

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