ValuEngine downgraded shares of Docusign (NASDAQ:DOCU) from a buy rating to a hold rating in a research report report published on Tuesday morning, ValuEngine reports.

A number of other brokerages have also commented on DOCU. JPMorgan Chase & Co. raised their price target on Docusign from $88.00 to $90.00 and gave the stock an overweight rating in a research note on Friday, September 6th. JMP Securities raised their price target on Docusign from $68.00 to $70.00 and gave the stock a market outperform rating in a research note on Friday, September 6th. FBN Securities set a $65.00 price target on Docusign and gave the stock a buy rating in a research note on Friday, September 6th. DA Davidson raised their price target on Docusign to $63.00 and gave the stock a buy rating in a research note on Friday, September 6th. Finally, Danske assumed coverage on Docusign in a research note on Friday, August 16th. They issued a buy rating and a $52.00 price target for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $65.07.

Shares of Docusign stock opened at $64.80 on Tuesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.64 and a current ratio of 1.64. Docusign has a 52-week low of $35.06 and a 52-week high of $65.07. The company’s 50 day moving average price is $49.93 and its 200-day moving average price is $52.67.

Docusign (NASDAQ:DOCU) last issued its earnings results on Thursday, September 5th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.24. Docusign had a negative net margin of 28.20% and a negative return on equity of 26.70%. The firm had revenue of $235.61 million for the quarter, compared to analysts’ expectations of $220.81 million. During the same quarter last year, the business earned $0.03 earnings per share. The business’s revenue was up 41.0% on a year-over-year basis. Sell-side analysts anticipate that Docusign will post -1.04 earnings per share for the current fiscal year.

In related news, insider Kirsten O. Wolberg sold 7,877 shares of Docusign stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $50.93, for a total value of $401,175.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter Solvik sold 541,532 shares of Docusign stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $51.52, for a total value of $27,899,728.64. The disclosure for this sale can be found here. Insiders sold a total of 590,230 shares of company stock valued at $30,659,814 over the last quarter. 13.60% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wealthcare Advisory Partners LLC bought a new stake in Docusign in the 2nd quarter worth about $36,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Docusign by 261.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 769 shares of the company’s stock worth $38,000 after buying an additional 556 shares in the last quarter. Rehmann Capital Advisory Group increased its holdings in Docusign by 226.1% in the 1st quarter. Rehmann Capital Advisory Group now owns 874 shares of the company’s stock worth $45,000 after buying an additional 606 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in Docusign in the 2nd quarter worth about $47,000. Finally, Regal Wealth Group Inc. bought a new stake in Docusign in the 2nd quarter worth about $50,000. Institutional investors own 68.79% of the company’s stock.

About Docusign

DocuSign, Inc provides cloud based software in the United States. The company offers e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. The company sells its products through direct, partner-assisted, and Web-based sales. It serves enterprise businesses, commercial businesses, and small businesses, such as professionals, sole proprietorships and individuals.

Further Reading: What does a hold rating mean?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Docusign (NASDAQ:DOCU)

Receive News & Ratings for Docusign Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Docusign and related companies with MarketBeat.com's FREE daily email newsletter.