DocuSign (NASDAQ:DOCU) Earns Sector Perform Rating from Royal Bank of Canada

DocuSign (NASDAQ:DOCU)‘s stock had its “sector perform” rating reaffirmed by equities research analysts at Royal Bank of Canada in a research report issued on Friday,Benzinga reports. They currently have a $90.00 price target on the stock, up from their prior price target of $57.00. Royal Bank of Canada’s price objective points to a potential downside of 15.88% from the company’s previous close.

Several other research firms also recently weighed in on DOCU. JPMorgan Chase & Co. raised their price objective on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company raised their price objective on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research note on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research note on Friday. Bank of America raised their price objective on DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Finally, Citigroup raised their price objective on DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $92.45.

DocuSign Trading Up 27.9 %

Shares of DOCU stock opened at $106.99 on Friday. The company has a market cap of $21.72 billion, a price-to-earnings ratio of 22.06, a price-to-earnings-growth ratio of 8.70 and a beta of 0.92. The stock has a 50 day simple moving average of $74.66 and a 200-day simple moving average of $62.01. DocuSign has a 12-month low of $44.34 and a 12-month high of $107.86.

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

Insider Transactions at DocuSign

In other news, CEO Allan C. Thygesen sold 7,763 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $80.54, for a total value of $625,232.02. Following the completion of the transaction, the chief executive officer now directly owns 100,062 shares of the company’s stock, valued at $8,058,993.48. The trade was a 7.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Robert Chatwani sold 14,799 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $55.46, for a total value of $820,752.54. Following the completion of the transaction, the insider now directly owns 70,748 shares of the company’s stock, valued at approximately $3,923,684.08. This trade represents a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,596 shares of company stock valued at $4,441,529 over the last three months. 1.66% of the stock is currently owned by insiders.

Hedge Funds Weigh In On DocuSign

Institutional investors have recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. acquired a new position in DocuSign in the third quarter valued at $28,000. Mather Group LLC. increased its stake in DocuSign by 4,338.5% in 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 during the last quarter. Brooklyn Investment Group acquired a new position in DocuSign in the third quarter valued at $33,000. Reston Wealth Management LLC acquired a new position in DocuSign in the third quarter valued at $47,000. Finally, nVerses Capital LLC purchased a new stake in DocuSign during the second quarter valued at about $48,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.

About DocuSign

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.