DocuSign (NASDAQ:DOCU) Upgraded to “Neutral” by UBS Group

DocuSign (NASDAQ:DOCU) was upgraded by stock analysts at UBS Group from a “sell” rating to a “neutral” rating in a report issued on Friday, MarketBeat Ratings reports. The firm currently has a $62.00 price target on the stock, up from their previous price target of $48.00. UBS Group’s price objective would suggest a potential upside of 5.26% from the company’s previous close.

Several other brokerages have also issued reports on DOCU. JMP Securities reaffirmed a “market outperform” rating and set a $84.00 target price on shares of DocuSign in a research report on Monday, January 22nd. TheStreet raised DocuSign from a “d+” rating to a “c-” rating in a research report on Tuesday, December 19th. Morgan Stanley raised DocuSign from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $49.00 to $64.00 in a research report on Tuesday, January 16th. Royal Bank of Canada reiterated a “sector perform” rating and set a $50.00 price target on shares of DocuSign in a research note on Friday, January 12th. Finally, Wells Fargo & Company cut their price target on DocuSign from $55.00 to $45.00 and set an “underweight” rating for the company in a research note on Monday, February 5th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, DocuSign currently has a consensus rating of “Hold” and a consensus price target of $60.25.

DocuSign Price Performance

DocuSign stock opened at $58.90 on Friday. The stock’s fifty day moving average price is $55.37 and its two-hundred day moving average price is $51.66. DocuSign has a one year low of $38.11 and a one year high of $64.76. The firm has a market cap of $12.10 billion, a PE ratio of 163.62, a price-to-earnings-growth ratio of 5.20 and a beta of 0.89.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, March 7th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06. DocuSign had a return on equity of 13.91% and a net margin of 2.68%. The firm had revenue of $712.39 million for the quarter, compared to analyst estimates of $698.05 million. Sell-side analysts expect that DocuSign will post 0.86 earnings per share for the current fiscal year.

Insider Activity at DocuSign

In related news, insider Stephen Shute sold 15,109 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $57.02, for a total value of $861,515.18. Following the transaction, the insider now owns 8,959 shares in the company, valued at $510,842.18. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Teresa Briggs sold 499 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $52.99, for a total value of $26,442.01. Following the transaction, the director now owns 6,169 shares of the company’s stock, valued at $326,895.31. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Stephen Shute sold 15,109 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $57.02, for a total transaction of $861,515.18. Following the completion of the transaction, the insider now directly owns 8,959 shares in the company, valued at approximately $510,842.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,871 shares of company stock worth $3,176,199. Insiders own 17.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in DOCU. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its holdings in shares of DocuSign by 440.0% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 270 shares of the company’s stock worth $28,000 after purchasing an additional 220 shares during the period. Capital Analysts LLC grew its position in DocuSign by 781.7% in the fourth quarter. Capital Analysts LLC now owns 529 shares of the company’s stock worth $31,000 after acquiring an additional 469 shares in the last quarter. BluePath Capital Management LLC purchased a new position in DocuSign in the third quarter worth $32,000. McGlone Suttner Wealth Management Inc. purchased a new position in DocuSign in the fourth quarter worth $32,000. Finally, Virtus Fund Advisers LLC purchased a new position in DocuSign in the fourth quarter worth $33,000. Institutional investors own 77.64% of the company’s stock.

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.