Zacks Investment Research Upgrades Docusign (DOCU) to “Hold”
Docusign (NASDAQ:DOCU) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday.
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 issued reports on DOCU. Wedbush assumed coverage on Docusign in a report on Thursday, October 18th. They issued a “neutral” rating and a $45.00 price objective for the company. JMP Securities increased their price objective on Docusign from $63.00 to $68.00 and gave the stock a “market outperform” rating in a report on Thursday, September 6th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $88.00 price objective on shares of Docusign in a report on Thursday, September 6th. Morgan Stanley increased their price objective on Docusign from $46.00 to $50.00 and gave the stock an “equal weight” rating in a report on Thursday, September 6th. Finally, Bank of America raised their price target on Docusign from $63.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, September 6th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $60.60.
Docusign (NASDAQ:DOCU) last posted its quarterly earnings data on Wednesday, September 5th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $167.04 million during the quarter, compared to the consensus estimate of $158.70 million. The company’s revenue for the quarter was up 33.1% compared to the same quarter last year. Analysts predict that Docusign will post -2.46 EPS for the current fiscal year.
In other news, Director Peter Solvik sold 1,304,348 shares of the firm’s stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $55.00, for a total transaction of $71,739,140.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Several large investors have recently modified their holdings of the company. Opera Trading Capital bought a new position in shares of Docusign during the third quarter valued at $101,000. FNY Investment Advisers LLC bought a new position in shares of Docusign during the second quarter valued at $131,000. State Board of Administration of Florida Retirement System increased its holdings in shares of Docusign by 46.2% during the third quarter. State Board of Administration of Florida Retirement System now owns 7,894 shares of the company’s stock valued at $415,000 after acquiring an additional 2,494 shares in the last quarter. Valeo Financial Advisors LLC increased its holdings in shares of Docusign by 914.5% during the third quarter. Valeo Financial Advisors LLC now owns 2,790 shares of the company’s stock valued at $117,000 after acquiring an additional 2,515 shares in the last quarter. Finally, Bank of Montreal Can bought a new position in shares of Docusign during the second quarter valued at $145,000. Hedge funds and other institutional investors own 34.44% of the company’s stock.
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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