DocuSign’s (DOCU) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of DocuSign (NASDAQ:DOCU) in a report released on Thursday,Benzinga reports.

A number of other equities analysts have also commented on the company. UBS Group dropped their price objective on DocuSign from $100.00 to $90.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. JMP Securities reiterated a “market outperform” rating and set a $124.00 price target on shares of DocuSign in a report on Tuesday, January 7th. Jefferies Financial Group lowered their price objective on shares of DocuSign from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Royal Bank of Canada reiterated a “sector perform” rating and set a $90.00 target price on shares of DocuSign in a research note on Friday, March 14th. Finally, Bank of America dropped their price objective on shares of DocuSign from $112.00 to $98.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $93.08.

DocuSign Stock Down 1.3 %

Shares of DocuSign stock opened at $75.42 on Thursday. DocuSign has a 12-month low of $48.70 and a 12-month high of $107.86. The stock has a 50 day moving average price of $81.60 and a two-hundred day moving average price of $83.00. The stock has a market capitalization of $15.27 billion, a P/E ratio of 15.55, a PEG ratio of 6.94 and a beta of 1.20.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data 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. The business had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. DocuSign’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.76 EPS. Sell-side analysts anticipate that DocuSign will post 1.17 earnings per share for the current year.

Insider Activity

In related news, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $87.41, for a total transaction of $46,676.94. Following the completion of the transaction, the director now directly owns 8,270 shares of the company’s stock, valued at $722,880.70. This trade represents a 6.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Blake Jeffrey Grayson sold 16,111 shares of the business’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $83.20, for a total transaction of $1,340,435.20. Following the completion of the transaction, the chief financial officer now owns 93,960 shares in the company, valued at approximately $7,817,472. This trade represents a 14.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,851 shares of company stock worth $4,607,439. Company insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of DOCU. QRG Capital Management Inc. grew its position in DocuSign by 10.1% during the 1st quarter. QRG Capital Management Inc. now owns 66,242 shares of the company’s stock worth $5,392,000 after acquiring an additional 6,087 shares during the last quarter. Adero Partners LLC boosted its stake in DocuSign by 7.0% in the first quarter. Adero Partners LLC now owns 3,231 shares of the company’s stock worth $263,000 after purchasing an additional 212 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of DocuSign by 6.6% during the first quarter. Janney Montgomery Scott LLC now owns 41,359 shares of the company’s stock worth $3,367,000 after purchasing an additional 2,554 shares during the last quarter. Optas LLC increased its stake in shares of DocuSign by 7.6% in the first quarter. Optas LLC now owns 3,088 shares of the company’s stock valued at $251,000 after buying an additional 219 shares in the last quarter. Finally, Ritholtz Wealth Management raised its holdings in shares of DocuSign by 58.5% in the first quarter. Ritholtz Wealth Management now owns 3,926 shares of the company’s stock valued at $320,000 after buying an additional 1,449 shares during the last quarter. 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.