Needham & Company LLC Reaffirms Hold Rating for Docusign (NASDAQ:DOCU)

Docusign (NASDAQ:DOCU)‘s stock had its “hold” rating reiterated by investment analysts at Needham & Company LLC in a report issued on Friday,Benzinga reports.

A number of other equities research analysts also recently weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Docusign in a report on Wednesday, October 8th. Royal Bank Of Canada lifted their price objective on shares of Docusign from $90.00 to $95.00 and gave the stock a “sector perform” rating in a research note on Friday, September 5th. Evercore ISI increased their target price on shares of Docusign from $90.00 to $92.00 and gave the stock an “in-line” rating in a research report on Friday, September 5th. Morgan Stanley boosted their price target on Docusign from $86.00 to $90.00 and gave the company an “equal weight” rating in a research note on Monday, September 8th. Finally, Wells Fargo & Company set a $75.00 price objective on Docusign in a research note on Friday. Four analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $90.93.

Docusign Stock Up 0.7%

Shares of DOCU stock opened at $71.10 on Friday. Docusign has a 12-month low of $63.50 and a 12-month high of $107.86. The company has a market capitalization of $14.30 billion, a PE ratio of 53.46, a price-to-earnings-growth ratio of 3.51 and a beta of 0.98. The firm has a 50 day moving average price of $69.80 and a two-hundred day moving average price of $75.45.

Docusign (NASDAQ:DOCU) last posted its earnings results on Thursday, September 4th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.84 by $0.08. The company had revenue of $800.64 million for the quarter, compared to the consensus estimate of $780.35 million. Docusign had a return on equity of 14.01% and a net margin of 9.08%.The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.97 earnings per share. As a group, research analysts expect that Docusign will post 1.17 EPS for the current year.

Insider Activity

In other Docusign news, Director Teresa Briggs sold 365 shares of the firm’s stock in a transaction on Friday, November 28th. The stock was sold at an average price of $69.19, for a total value of $25,254.35. Following the sale, the director owned 8,805 shares of the company’s stock, valued at approximately $609,217.95. This trade represents a 3.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Anna Marrs sold 365 shares of Docusign stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $68.54, for a total value of $25,017.10. Following the completion of the transaction, the director owned 11,163 shares in the company, valued at approximately $765,112.02. The trade was a 3.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 103,713 shares of company stock valued at $7,791,047. Corporate insiders own 1.01% of the company’s stock.

Institutional Investors Weigh In On Docusign

Hedge funds have recently made changes to their positions in the stock. IFP Advisors Inc increased its position in Docusign by 31.9% during the 3rd quarter. IFP Advisors Inc now owns 1,955 shares of the company’s stock worth $145,000 after purchasing an additional 473 shares in the last quarter. Strategic Advocates LLC acquired a new stake in Docusign in the third quarter valued at approximately $50,000. CIBC Bancorp USA Inc. bought a new stake in shares of Docusign during the third quarter worth $522,000. Centaurus Financial Inc. grew its stake in shares of Docusign by 3.4% during the third quarter. Centaurus Financial Inc. now owns 5,582 shares of the company’s stock worth $402,000 after buying an additional 184 shares during the last quarter. Finally, Coldstream Capital Management Inc. increased its holdings in shares of Docusign by 21.1% during the third quarter. Coldstream Capital Management Inc. now owns 4,147 shares of the company’s stock worth $299,000 after buying an additional 723 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

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.