DocuSign (NASDAQ:DOCU) Price Target Raised to $124.00 at JMP Securities

DocuSign (NASDAQ:DOCU) had its price objective raised by JMP Securities from $108.00 to $124.00 in a research note published on Friday,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

A number of other research firms also recently weighed in on DOCU. Bank of America lifted their price objective on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Wells Fargo & Company upped their price target on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. Jefferies Financial Group raised their price objective on DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday. Royal Bank of Canada upped their target price on DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Friday, September 6th. Finally, Robert W. Baird lifted their price target on shares of DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $92.45.

DocuSign Price Performance

Shares of DOCU stock opened at $106.99 on Friday. DocuSign has a fifty-two week low of $44.34 and a fifty-two week high of $107.86. The stock’s 50-day moving average is $74.66 and its two-hundred day moving average is $62.00. The firm has a market cap of $21.72 billion, a P/E ratio of 22.06, a PEG ratio of 8.70 and a beta of 0.92.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. The firm had revenue of $736.03 million for the quarter, compared to the consensus estimate of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The firm’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.09 earnings per share. As a group, research analysts expect that DocuSign will post 1.03 EPS for the current year.

Insider Activity at DocuSign

In other news, CEO Allan C. Thygesen sold 7,763 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $80.54, for a total transaction of $625,232.02. Following the sale, the chief executive officer now directly owns 100,062 shares in the company, valued at approximately $8,058,993.48. The trade was a 7.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Robert Chatwani sold 14,799 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total value of $820,752.54. Following the completion of the transaction, the insider now owns 70,748 shares of the company’s stock, valued at $3,923,684.08. The trade was a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,596 shares of company stock worth $4,441,529 in the last ninety days. 1.66% of the stock is currently owned by insiders.

Institutional Trading of DocuSign

Several institutional investors have recently made changes to their positions in DOCU. J.W. Cole Advisors Inc. raised its position in DocuSign by 2.0% in the third quarter. J.W. Cole Advisors Inc. now owns 7,946 shares of the company’s stock worth $493,000 after purchasing an additional 155 shares in the last quarter. Resonant Capital Advisors LLC raised its holdings in shares of DocuSign by 0.9% in the 3rd quarter. Resonant Capital Advisors LLC now owns 17,516 shares of the company’s stock worth $1,088,000 after buying an additional 157 shares in the last quarter. Optimist Retirement Group LLC lifted its position in shares of DocuSign by 3.8% during the 3rd quarter. Optimist Retirement Group LLC now owns 4,416 shares of the company’s stock worth $274,000 after buying an additional 161 shares during the period. V Square Quantitative Management LLC boosted its stake in DocuSign by 6.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 3,019 shares of the company’s stock valued at $187,000 after buying an additional 172 shares in the last quarter. Finally, Dakota Wealth Management grew its position in DocuSign by 0.8% in the second quarter. Dakota Wealth Management now owns 23,022 shares of the company’s stock valued at $1,232,000 after acquiring an additional 181 shares during the period. 77.64% of the stock is currently owned by institutional investors and hedge funds.

About DocuSign

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.