DocuSign (NASDAQ:DOCU) Given New $100.00 Price Target at Robert W. Baird

DocuSign (NASDAQ:DOCU) had its price target boosted by stock analysts at Robert W. Baird from $59.00 to $100.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s target price points to a potential upside of 19.50% from the stock’s current price.

A number of other equities analysts have also recently commented on the company. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Citigroup lifted their target price on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Jefferies Financial Group increased their price target on DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday. Bank of America lifted their price objective on shares of DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Finally, JPMorgan Chase & Co. increased their price objective on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, DocuSign currently has an average rating of “Hold” and an average target price of $74.45.

DocuSign Stock Down 0.4 %

NASDAQ:DOCU opened at $83.68 on Friday. DocuSign has a twelve month low of $44.34 and a twelve month high of $86.75. The firm has a market capitalization of $16.98 billion, a price-to-earnings ratio of 17.65, a price-to-earnings-growth ratio of 8.33 and a beta of 0.92. The stock’s 50 day moving average price is $73.75 and its two-hundred day moving average price is $61.68.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.17. The firm had revenue of $736.03 million for the quarter, compared to analyst estimates of $727.20 million. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.09 earnings per share. As a group, analysts anticipate that DocuSign will post 1.03 earnings per share for the current year.

Insiders Place Their Bets

In other DocuSign news, Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $56.56, for a total transaction of $30,203.04. Following the transaction, the director now owns 7,202 shares in the company, valued at $407,345.12. This trade represents a 6.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Chatwani sold 14,799 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total value of $820,752.54. Following the sale, the insider now owns 70,748 shares of the company’s stock, valued at approximately $3,923,684.08. The trade was a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,596 shares of company stock worth $4,441,529 in the last quarter. Corporate insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Comerica Bank increased its holdings in DocuSign by 228.8% in the 1st quarter. Comerica Bank now owns 28,901 shares of the company’s stock valued at $1,721,000 after buying an additional 20,110 shares during the period. Cetera Investment Advisers boosted its position in shares of DocuSign by 455.7% during the 1st quarter. Cetera Investment Advisers now owns 45,709 shares of the company’s stock worth $2,722,000 after acquiring an additional 37,484 shares in the last quarter. Cetera Advisors LLC increased its stake in DocuSign by 38.0% in the first quarter. Cetera Advisors LLC now owns 12,866 shares of the company’s stock valued at $766,000 after acquiring an additional 3,542 shares during the last quarter. Mather Group LLC. raised its position in DocuSign by 4,338.5% during the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock valued at $31,000 after purchasing an additional 564 shares in the last quarter. Finally, CWM LLC raised its position in DocuSign by 23.6% during the second quarter. CWM LLC now owns 31,082 shares of the company’s stock valued at $1,663,000 after purchasing an additional 5,941 shares in the last quarter. Institutional investors own 77.64% of the company’s stock.

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.