Docusign (NASDAQ:DOCU) Upgraded at Wall Street Zen

Docusign (NASDAQ:DOCU) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday.

Other analysts have also recently issued reports about the company. BTIG Research dropped their price target on Docusign from $70.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, June 5th. Jefferies Financial Group boosted their price objective on Docusign from $45.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, June 5th. UBS Group set a $60.00 price objective on Docusign in a research note on Friday, June 5th. Weiss Ratings raised Docusign from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 14th. Finally, Citigroup boosted their price target on shares of Docusign from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Friday, June 5th. Three investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Docusign presently has a consensus rating of “Hold” and an average price target of $60.27.

Docusign Stock Up 7.2%

Shares of NASDAQ:DOCU opened at $50.44 on Friday. Docusign has a fifty-two week low of $40.16 and a fifty-two week high of $86.65. The firm has a 50-day simple moving average of $47.83 and a 200 day simple moving average of $48.89. The company has a market cap of $9.63 billion, a PE ratio of 32.75, a P/E/G ratio of 1.39 and a beta of 0.90.

Docusign (NASDAQ:DOCU) last released its quarterly earnings data on Thursday, June 4th. The company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.10. Docusign had a net margin of 9.59% and a return on equity of 17.48%. The firm had revenue of $830.24 million for the quarter, compared to analyst estimates of $824.71 million. During the same quarter in the prior year, the business earned $0.90 earnings per share. Docusign’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, research analysts forecast that Docusign will post 2.03 EPS for the current fiscal year.

Insider Buying and Selling at Docusign

In related news, CFO Blake Jeffrey Grayson sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $45.55, for a total value of $683,250.00. Following the sale, the chief financial officer directly owned 141,429 shares in the company, valued at $6,442,090.95. This trade represents a 9.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Chatwani sold 15,902 shares of Docusign stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $43.01, for a total value of $683,945.02. Following the sale, the insider directly owned 72,805 shares in the company, valued at $3,131,343.05. The trade was a 17.93% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 76,695 shares of company stock valued at $3,476,002. 0.59% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Smartleaf Asset Management LLC lifted its holdings in Docusign by 8.2% in the second quarter. Smartleaf Asset Management LLC now owns 2,169 shares of the company’s stock worth $166,000 after purchasing an additional 165 shares during the period. Centaurus Financial Inc. grew its position in Docusign by 3.4% in the 3rd quarter. Centaurus Financial Inc. now owns 5,582 shares of the company’s stock valued at $402,000 after buying an additional 184 shares in the last quarter. Tred Avon Family Wealth LLC increased its stake in Docusign by 3.6% during the 1st quarter. Tred Avon Family Wealth LLC now owns 6,176 shares of the company’s stock valued at $293,000 after buying an additional 215 shares during the period. Sanctuary Advisors LLC increased its stake in Docusign by 2.4% during the 4th quarter. Sanctuary Advisors LLC now owns 9,685 shares of the company’s stock valued at $662,000 after buying an additional 231 shares during the period. Finally, First Citizens Bank & Trust Co. lifted its stake in shares of Docusign by 2.1% in the 1st quarter. First Citizens Bank & Trust Co. now owns 11,745 shares of the company’s stock worth $557,000 after acquiring an additional 239 shares during the period. 77.64% of the stock is owned by institutional investors and hedge funds.

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.