Docusign Inc. (NASDAQ:DOCU) Receives Average Recommendation of “Hold” from Analysts

Shares of Docusign Inc. (NASDAQ:DOCU) have received an average rating of “Hold” from the nineteen analysts that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $61.40.

A number of research analysts have commented on the company. Wells Fargo & Company decreased their price objective on Docusign from $75.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 18th. Robert W. Baird decreased their price objective on Docusign from $75.00 to $55.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th. Citizens Jmp decreased their price objective on Docusign from $124.00 to $86.00 and set a “market outperform” rating on the stock in a research report on Wednesday, March 18th. BTIG Research reiterated a “buy” rating and issued a $70.00 price objective on shares of Docusign in a research report on Wednesday, March 18th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Docusign in a research report on Tuesday, March 10th.

Docusign Stock Performance

Shares of DOCU opened at $49.53 on Monday. The firm has a market capitalization of $9.62 billion, a price-to-earnings ratio of 33.47, a PEG ratio of 1.89 and a beta of 0.88. The business’s fifty day moving average price is $46.98 and its two-hundred day moving average price is $55.33. Docusign has a 52 week low of $40.16 and a 52 week high of $94.67.

Docusign (NASDAQ:DOCU) last announced its quarterly earnings data on Tuesday, March 17th. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. The firm had revenue of $836.86 million for the quarter, compared to analyst estimates of $828.23 million. Docusign had a return on equity of 16.86% and a net margin of 9.60%.The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company earned $0.86 EPS. As a group, research analysts forecast that Docusign will post 1.76 EPS for the current year.

Docusign declared that its board has authorized a share buyback plan on Tuesday, March 17th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 21% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, insider James P. Shaughnessy sold 12,000 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $46.83, for a total value of $561,960.00. Following the transaction, the insider owned 53,631 shares of the company’s stock, valued at $2,511,539.73. This represents a 18.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Paula Hansen sold 6,000 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $46.84, for a total value of $281,040.00. Following the completion of the transaction, the executive directly owned 79,233 shares in the company, valued at approximately $3,711,273.72. This trade represents a 7.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 64,673 shares of company stock worth $3,077,699 over the last 90 days. 0.59% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Central Pacific Bank Trust Division acquired a new position in shares of Docusign in the 4th quarter valued at $25,000. Modus Advisors LLC acquired a new position in shares of Docusign in the 4th quarter valued at $27,000. Torren Management LLC acquired a new position in shares of Docusign in the 4th quarter valued at $28,000. True Wealth Design LLC lifted its stake in shares of Docusign by 105.2% in the 4th quarter. True Wealth Design LLC now owns 433 shares of the company’s stock valued at $30,000 after purchasing an additional 222 shares during the period. Finally, Aventura Private Wealth LLC acquired a new position in shares of Docusign in the 4th quarter valued at $30,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

Docusign Company Profile

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.