Docusign’s (DOCU) Market Outperform Rating Reaffirmed at Citizens Jmp

Docusign (NASDAQ:DOCU)‘s stock had its “market outperform” rating reiterated by equities research analysts at Citizens Jmp in a note issued to investors on Tuesday,Benzinga reports. They currently have a $86.00 price target on the stock. Citizens Jmp’s target price indicates a potential upside of 43.76% from the company’s current price.

DOCU has been the topic of a number of other research reports. Weiss Ratings upgraded Docusign from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 14th. UBS Group set a $60.00 price objective on Docusign in a research report on Friday, June 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Docusign in a research note on Friday, June 5th. Citigroup reiterated a “market outperform” rating on shares of Docusign in a report on Tuesday. Finally, Wedbush decreased their target price on shares of Docusign from $60.00 to $58.00 and set a “neutral” rating for the company in a research report on Friday, June 5th. Four research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Docusign presently has a consensus rating of “Hold” and a consensus price target of $60.27.

Docusign Stock Performance

Shares of NASDAQ:DOCU opened at $59.82 on Tuesday. Docusign has a 52 week low of $40.16 and a 52 week high of $86.65. The firm has a market cap of $11.42 billion, a PE ratio of 38.84, a price-to-earnings-growth ratio of 1.83 and a beta of 0.87. The firm’s fifty day moving average is $50.26 and its 200-day moving average is $48.39.

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. The business had revenue of $830.24 million during the quarter, compared to the consensus estimate of $824.71 million. Docusign had a return on equity of 17.48% and a net margin of 9.59%.Docusign’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.90 earnings per share. Sell-side analysts forecast that Docusign will post 2.03 EPS for the current year.

Insider Buying and Selling at Docusign

In other news, insider Robert Chatwani sold 15,902 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were 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. This represents a 17.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James P. Shaughnessy sold 12,000 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $45.54, for a total transaction of $546,480.00. Following the completion of the sale, the insider owned 52,815 shares of the company’s stock, valued at approximately $2,405,195.10. This represents a 18.51% 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. In the last three months, insiders have sold 91,695 shares of company stock worth $4,376,002. 0.59% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Docusign in the 2nd quarter valued at about $927,059,000. Norges Bank bought a new position in shares of Docusign during the 4th quarter worth approximately $186,795,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Docusign by 76.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,285,128 shares of the company’s stock worth $250,568,000 after buying an additional 2,283,996 shares during the last quarter. Capital World Investors boosted its stake in shares of Docusign by 38.1% in the 4th quarter. Capital World Investors now owns 5,815,804 shares of the company’s stock worth $397,801,000 after buying an additional 1,603,900 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Docusign in the second quarter valued at approximately $56,219,000. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

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.