Docusign (NASDAQ:DOCU) Sets New 1-Year Low on Analyst Downgrade

Shares of Docusign Inc. (NASDAQ:DOCU) hit a new 52-week low during mid-day trading on Friday after Piper Sandler lowered their price target on the stock from $90.00 to $75.00. Piper Sandler currently has a neutral rating on the stock. Docusign traded as low as $63.41 and last traded at $66.4960, with a volume of 2254331 shares traded. The stock had previously closed at $71.10.

A number of other research analysts also recently commented on DOCU. UBS Group lowered their price target on shares of Docusign from $85.00 to $75.00 and set a “neutral” rating for the company in a report on Friday. Robert W. Baird decreased their price target on Docusign from $90.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday. Wells Fargo & Company cut their price objective on shares of Docusign from $85.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday. JPMorgan Chase & Co. lowered their target price on shares of Docusign from $80.00 to $78.00 and set a “neutral” rating for the company in a report on Friday. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $95.00 price target on shares of Docusign in a research note on Friday. Four research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $86.71.

Insider Buying and Selling

In other Docusign news, CRO Paula Hansen sold 6,000 shares of Docusign stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $71.33, for a total value of $427,980.00. Following the transaction, the executive directly owned 58,968 shares of the company’s stock, valued at approximately $4,206,187.44. The trade was a 9.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James P. Shaughnessy sold 7,500 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $71.19, for a total value of $533,925.00. Following the transaction, the insider directly owned 55,442 shares in the company, valued at approximately $3,946,915.98. The trade was a 11.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 104,076 shares of company stock valued at $7,814,461 over the last quarter. Insiders own 1.01% of the company’s stock.

Institutional Investors Weigh In On Docusign

Several institutional investors have recently added to or reduced their stakes in the business. Banque Transatlantique SA acquired a new position in shares of Docusign during the first quarter valued at about $26,000. Summit Securities Group LLC acquired a new stake in Docusign in the 1st quarter worth approximately $34,000. Rise Advisors LLC grew its position in Docusign by 864.6% during the 1st quarter. Rise Advisors LLC now owns 463 shares of the company’s stock worth $38,000 after purchasing an additional 415 shares during the last quarter. WPG Advisers LLC acquired a new position in Docusign during the 1st quarter valued at approximately $39,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in Docusign during the 2nd quarter valued at approximately $43,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

Docusign Price Performance

The stock’s fifty day simple moving average is $69.48 and its 200-day simple moving average is $75.17. The firm has a market cap of $13.21 billion, a PE ratio of 45.92, a PEG ratio of 3.26 and a beta of 0.98.

Docusign (NASDAQ:DOCU) last released its earnings results on Thursday, September 4th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.08. The firm had revenue of $800.64 million for the quarter, compared to the consensus estimate of $780.35 million. Docusign had a return on equity of 14.98% and a net margin of 9.57%.The firm’s revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.97 EPS. Analysts expect that Docusign Inc. will post 1.17 earnings per share for the current year.

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.