DocuSign (NASDAQ:DOCU) Given Market Outperform Rating at JMP Securities

JMP Securities reissued their market outperform rating on shares of DocuSign (NASDAQ:DOCU) in a research note issued to investors on Thursday,Benzinga reports. They currently have a $124.00 price target on the stock.

Other research analysts also recently issued research reports about the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a report on Thursday. Bank of America lowered their price objective on DocuSign from $112.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Robert W. Baird set a $93.00 target price on DocuSign in a research report on Friday, March 14th. Wells Fargo & Company lifted their price objective on shares of DocuSign from $70.00 to $73.00 and gave the company an “underweight” rating in a research report on Friday, March 14th. Finally, Hsbc Global Res upgraded shares of DocuSign from a “moderate sell” rating to a “hold” rating in a research report on Friday, April 11th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, DocuSign presently has an average rating of “Hold” and an average target price of $93.08.

DocuSign Stock Down 1.3 %

Shares of DOCU opened at $75.42 on Thursday. The business has a 50-day simple moving average of $81.60 and a two-hundred day simple moving average of $83.00. DocuSign has a 52 week low of $48.70 and a 52 week high of $107.86. The stock has a market cap of $15.27 billion, a price-to-earnings ratio of 15.55, a PEG ratio of 6.94 and a beta of 1.20.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.02. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The company had revenue of $776.25 million during the quarter, compared to analyst estimates of $760.94 million. During the same period in the prior year, the firm posted $0.76 EPS. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, equities analysts anticipate that DocuSign will post 1.17 earnings per share for the current fiscal year.

Insider Transactions at DocuSign

In other news, insider Robert Chatwani sold 15,706 shares of DocuSign stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $83.19, for a total value of $1,306,582.14. Following the completion of the transaction, the insider now owns 76,842 shares in the company, valued at approximately $6,392,485.98. The trade was a 16.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $76.09, for a total value of $608,720.00. Following the sale, the chief financial officer now owns 86,156 shares in the company, valued at $6,555,610.04. The trade was a 8.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,851 shares of company stock worth $4,607,439 in the last three months. Insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. MML Investors Services LLC grew its holdings in DocuSign by 60.5% during the 3rd quarter. MML Investors Services LLC now owns 12,034 shares of the company’s stock valued at $747,000 after purchasing an additional 4,538 shares during the last quarter. World Investment Advisors LLC bought a new position in shares of DocuSign during the third quarter valued at approximately $2,314,000. Wilmington Savings Fund Society FSB bought a new position in shares of DocuSign during the third quarter valued at approximately $51,000. Optimist Retirement Group LLC raised its holdings in shares of DocuSign by 3.8% in the third 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. Finally, Tidal Investments LLC lifted its stake in shares of DocuSign by 62.8% during the 3rd quarter. Tidal Investments LLC now owns 44,946 shares of the company’s stock worth $2,791,000 after acquiring an additional 17,339 shares during the last quarter. Institutional investors own 77.64% of the company’s stock.

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.