DocuSign, Inc. (NASDAQ:DOCU) Receives $92.45 Average Price Target from Analysts

Shares of DocuSign, Inc. (NASDAQ:DOCU) have received a consensus recommendation of “Hold” from the thirteen analysts that are presently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $92.45.

DOCU has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price objective on DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. Citigroup boosted their price target on shares of DocuSign from $87.00 to $113.00 and gave the company a “buy” rating in a report on Friday, December 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a report on Friday, December 6th. Piper Sandler lifted their target price on shares of DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Finally, Robert W. Baird increased their price target on shares of DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th.

Insider Transactions at DocuSign

In other news, Director Daniel D. Springer sold 581,588 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $97.04, for a total value of $56,437,299.52. Following the completion of the sale, the director now directly owns 906,430 shares in the company, valued at approximately $87,959,967.20. This trade represents a 39.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $94.60, for a total transaction of $50,516.40. Following the transaction, the director now owns 7,736 shares in the company, valued at approximately $731,825.60. This trade represents a 6.46 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 693,537 shares of company stock valued at $66,575,817. Corporate insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Modus Advisors LLC bought a new stake in shares of DocuSign in the 4th quarter valued at about $36,000. Itau Unibanco Holding S.A. acquired a new stake in DocuSign during the 3rd quarter worth $28,000. Brooklyn Investment Group acquired a new stake in DocuSign during the 3rd quarter worth $33,000. Friedenthal Financial bought a new position in DocuSign during the fourth quarter worth about $54,000. Finally, Reston Wealth Management LLC acquired a new position in DocuSign in the third quarter valued at about $47,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

DocuSign Stock Down 0.2 %

NASDAQ:DOCU opened at $91.16 on Friday. The company’s 50 day moving average is $88.26 and its 200-day moving average is $69.77. DocuSign has a 12 month low of $48.70 and a 12 month high of $107.86. The firm has a market cap of $18.42 billion, a price-to-earnings ratio of 18.80, a P/E/G ratio of 8.17 and a beta of 0.88.

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.