Docusign Inc (NASDAQ:DOCU) was the target of a significant decrease in short interest in November. As of November 15th, there was short interest totalling 6,112,540 shares, a decrease of 27.9% from the October 31st total of 8,480,618 shares. Based on an average daily volume of 1,744,442 shares, the days-to-cover ratio is presently 3.5 days. Currently, 8.1% of the company’s stock are sold short.
A number of analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Docusign from a “sell” rating to a “hold” rating in a research report on Friday, November 9th. Wedbush began coverage on Docusign in a report on Thursday, October 18th. They issued a “neutral” rating and a $45.00 price objective on the stock. Bank of America increased their price objective on Docusign from $63.00 to $64.00 and gave the stock a “neutral” rating 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, 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. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Docusign currently has a consensus rating of “Hold” and a consensus price target of $60.60.
NASDAQ:DOCU opened at $41.77 on Friday. Docusign has a 52 week low of $35.06 and a 52 week high of $68.35.
Docusign (NASDAQ:DOCU) last released its quarterly earnings data on Wednesday, September 5th. The company reported $0.03 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 analyst estimates of $158.70 million. The business’s quarterly revenue was up 33.1% compared to the same quarter last year. On average, analysts predict that Docusign will post -2.46 EPS for the current year.
In other news, Director Peter Solvik sold 1,304,348 shares of the stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $55.00, for a total value of $71,739,140.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
A number of large investors have recently added to or reduced their stakes in DOCU. Opera Trading Capital acquired a new position in Docusign in the third quarter worth approximately $101,000. Valeo Financial Advisors LLC grew its holdings in 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 purchasing an additional 2,515 shares during the last quarter. Bank of Montreal Can acquired a new position in Docusign during the second quarter valued at approximately $145,000. State of Alaska Department of Revenue acquired a new position in Docusign during the second quarter valued at approximately $160,000. Finally, BKS Advisors LLC acquired a new position in Docusign during the third quarter valued at approximately $236,000. Hedge funds and other institutional investors own 38.90% of the company’s stock.
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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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