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

Shares of Docusign Inc. (NASDAQ:DOCU) have earned a consensus recommendation of “Hold” from the nineteen brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, fifteen have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $60.2667.

DOCU has been the subject of a number of recent research reports. Weiss Ratings upgraded shares of Docusign from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, June 3rd. Wall Street Zen upgraded shares of Docusign from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 13th. BTIG Research decreased their price objective on shares of Docusign from $70.00 to $60.00 and set a “buy” rating for the company in a report on Friday, June 5th. Robert W. Baird decreased their price objective on shares of Docusign from $75.00 to $55.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. Finally, Piper Sandler decreased their price objective on shares of Docusign from $75.00 to $52.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th.

Docusign Stock Up 2.1%

Shares of NASDAQ:DOCU opened at $43.47 on Friday. The company’s fifty day moving average is $47.21 and its two-hundred day moving average is $52.68. Docusign has a 12-month low of $40.16 and a 12-month high of $86.65. The company has a market cap of $8.30 billion, a P/E ratio of 28.23, a price-to-earnings-growth ratio of 1.29 and a beta of 0.92.

Docusign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, June 4th. The company reported $1.09 EPS for the quarter, beating 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 business had revenue of $830.24 million for the quarter, compared to analysts’ expectations of $824.71 million. During the same period in the previous year, the company posted $0.90 EPS. Docusign’s revenue was up 8.7% on a year-over-year basis. Equities research analysts anticipate that Docusign will post 1.97 earnings per share for the current year.

Docusign announced that its board has initiated a share buyback plan on Tuesday, March 17th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to purchase up to 21% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, Director Mary Agnes Wilderotter sold 3,000 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $48.15, for a total value of $144,450.00. Following the completion of the sale, the director owned 59,803 shares in the company, valued at approximately $2,879,514.45. This trade represents a 4.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Allan C. Thygesen sold 26,250 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $47.78, for a total transaction of $1,254,225.00. Following the completion of the sale, the chief executive officer owned 152,237 shares of the company’s stock, valued at approximately $7,273,883.86. The trade was a 14.71% 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. Insiders have sold 48,793 shares of company stock valued at $2,322,737 over the last three months. 0.59% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in DOCU. Central Pacific Bank Trust Division acquired a new stake in shares of Docusign during the fourth quarter worth approximately $25,000. Modus Advisors LLC acquired a new stake in shares of Docusign during the fourth quarter worth approximately $27,000. Torren Management LLC acquired a new stake in shares of Docusign during the fourth quarter worth approximately $28,000. Aventura Private Wealth LLC acquired a new stake in shares of Docusign during the fourth quarter worth approximately $30,000. Finally, True Wealth Design LLC increased its holdings in shares of Docusign by 105.2% during the fourth quarter. True Wealth Design LLC now owns 433 shares of the company’s stock worth $30,000 after buying an additional 222 shares in the last quarter. 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.