Docusign (DOCU) Posts Earnings Results, Misses Expectations By $0.01 EPS

Docusign (NASDAQ:DOCU) released its earnings results on Thursday. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.01), Morningstar.com reports. The company had revenue of $199.73 million for the quarter, compared to analyst estimates of $193.63 million. The business’s quarterly revenue was up 34.2% compared to the same quarter last year. Docusign updated its Q1 2020 guidance to EPS and its FY 2020 guidance to EPS.

DOCU traded down $0.02 on Friday, reaching $58.83. 3,953,166 shares of the company traded hands, compared to its average volume of 2,256,592. Docusign has a 52-week low of $35.06 and a 52-week high of $68.35. The company has a quick ratio of 2.91, a current ratio of 2.91 and a debt-to-equity ratio of 0.53.

In related news, General Counsel Reginald D. Davis sold 235,655 shares of the business’s stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $50.13, for a total transaction of $11,813,385.15. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CRO Loren Alhadeff sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $54.35, for a total transaction of $652,200.00. The disclosure for this sale can be found here. Insiders have sold 814,317 shares of company stock worth $39,150,912 over the last ninety days.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC grew its position in Docusign by 40.6% during the fourth quarter. FMR LLC now owns 5,343,427 shares of the company’s stock valued at $214,165,000 after purchasing an additional 1,544,047 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in Docusign by 60.1% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,087,761 shares of the company’s stock worth $203,917,000 after acquiring an additional 1,909,833 shares in the last quarter. BlackRock Inc. grew its position in Docusign by 17.9% in the fourth quarter. BlackRock Inc. now owns 2,485,042 shares of the company’s stock worth $99,601,000 after acquiring an additional 376,642 shares in the last quarter. Accel London III Associates L.P. bought a new stake in Docusign in the fourth quarter worth approximately $98,230,000. Finally, Vanguard Group Inc. grew its position in Docusign by 3.7% in the third quarter. Vanguard Group Inc. now owns 1,922,947 shares of the company’s stock worth $101,089,000 after acquiring an additional 69,428 shares in the last quarter. 54.41% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms recently commented on DOCU. Zacks Investment Research downgraded shares of Docusign from a “hold” rating to a “sell” rating in a report on Friday, January 18th. Goldman Sachs Group assumed coverage on shares of Docusign in a research report on Thursday, December 13th. They issued a “neutral” rating and a $45.00 target price on the stock. Deutsche Bank dropped their target price on shares of Docusign to $50.00 and set a “hold” rating on the stock in a research report on Friday, December 7th. Morgan Stanley lifted their target price on shares of Docusign from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Friday, December 7th. Finally, Piper Jaffray Companies reissued an “overweight” rating and issued a $50.00 target price on shares of Docusign in a research report on Friday, December 7th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $60.58.

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Docusign Company Profile

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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