DocuSign (NASDAQ:DOCU) Receives Sector Perform Rating from Royal Bank of Canada

DocuSign (NASDAQ:DOCU)‘s stock had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada in a report released on Friday, Benzinga reports. They presently have a $59.00 target price on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 0.17% from the company’s previous close.

Several other equities analysts have also commented on DOCU. JMP Securities reaffirmed a “market outperform” rating and set a $84.00 price target on shares of DocuSign in a research report on Friday. UBS Group upgraded shares of DocuSign from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $48.00 to $62.00 in a research note on Friday. Morgan Stanley upgraded shares of DocuSign from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $49.00 to $64.00 in a research note on Tuesday, January 16th. TheStreet upgraded shares of DocuSign from a “d+” rating to a “c-” rating in a research note on Tuesday, December 19th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research note on Friday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $60.25.

DocuSign Stock Performance

Shares of DOCU stock opened at $58.90 on Friday. DocuSign has a one year low of $38.11 and a one year high of $64.76. The company has a 50 day moving average price of $55.37 and a 200 day moving average price of $51.66. The firm has a market capitalization of $12.10 billion, a price-to-earnings ratio of 163.62, a price-to-earnings-growth ratio of 5.20 and a beta of 0.89.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, March 7th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.09 by $0.06. DocuSign had a net margin of 2.68% and a return on equity of 13.91%. The firm had revenue of $712.39 million during the quarter, compared to analyst estimates of $698.05 million. As a group, equities analysts forecast that DocuSign will post 0.86 EPS for the current fiscal year.

Insider Activity

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 completion of the transaction, the director now directly owns 6,169 shares in the company, valued at $326,895.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other DocuSign news, Director Teresa Briggs sold 499 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $52.99, for a total transaction of $26,442.01. Following the transaction, the director now directly owns 6,169 shares in the company, valued at approximately $326,895.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James P. Shaughnessy sold 1,800 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $57.50, for a total transaction of $103,500.00. Following the transaction, the insider now owns 46,503 shares in the company, valued at $2,673,922.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,871 shares of company stock worth $3,176,199. 17.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its stake in DocuSign by 440.0% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 270 shares of the company’s stock valued at $28,000 after acquiring an additional 220 shares during the last quarter. Capital Analysts LLC raised its holdings in shares of DocuSign by 781.7% during the fourth quarter. Capital Analysts LLC now owns 529 shares of the company’s stock worth $31,000 after purchasing an additional 469 shares during the period. BluePath Capital Management LLC acquired a new stake in shares of DocuSign during the third quarter worth $32,000. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of DocuSign during the fourth quarter worth $32,000. Finally, Virtus Fund Advisers LLC acquired a new stake in shares of DocuSign during the fourth quarter worth $33,000. 77.64% of the stock is currently owned by institutional investors.

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.