Piper Sandler Cuts Docusign (NASDAQ:DOCU) Price Target to $75.00

Docusign (NASDAQ:DOCU) had its target price reduced by Piper Sandler from $90.00 to $75.00 in a research report report published on Friday,Benzinga reports. They currently have a neutral rating on the stock.

Several other equities research analysts have also recently issued reports on DOCU. Wall Street Zen raised shares of Docusign from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $95.00 price target on shares of Docusign in a report on Friday. Needham & Company LLC restated a “hold” rating on shares of Docusign in a report on Friday. Evercore ISI cut their target price on Docusign from $92.00 to $80.00 and set an “in-line” rating on the stock in a research report on Friday. Finally, Morgan Stanley lifted their target price on Docusign from $86.00 to $90.00 and gave the company an “equal weight” rating in a report on Monday, September 8th. Four equities research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $86.71.

Docusign Stock Down 7.6%

Shares of NASDAQ:DOCU opened at $65.67 on Friday. The company has a market cap of $13.21 billion, a P/E ratio of 45.92, a P/E/G ratio of 3.26 and a beta of 0.98. The business has a fifty day simple moving average of $69.48 and a 200-day simple moving average of $75.10. Docusign has a 52 week low of $63.41 and a 52 week high of $107.86.

Docusign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, September 4th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.08. The firm had revenue of $800.64 million for the quarter, compared to analyst estimates of $780.35 million. Docusign had a return on equity of 15.02% and a net margin of 9.57%.The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the company earned $0.97 EPS. Sell-side analysts expect that Docusign will post 1.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Teresa Briggs sold 365 shares of the stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $69.19, for a total transaction of $25,254.35. Following the sale, the director owned 8,805 shares in the company, valued at $609,217.95. This represents a 3.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James P. Shaughnessy sold 7,500 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider directly owned 55,442 shares in the company, valued at approximately $3,946,915.98. This trade represents a 11.92% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 104,076 shares of company stock worth $7,814,461. Company insiders own 1.66% of the company’s stock.

Institutional Trading of Docusign

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

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.