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

Needham & Company LLC reiterated their hold rating on shares of DocuSign (NASDAQ:DOCU) in a report issued on Friday,Benzinga reports.

A number of other equities analysts also recently weighed in on DOCU. Bank of America boosted their price target on shares of DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Royal Bank of Canada boosted their price target on shares of DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a report on Friday, September 6th. Citigroup boosted their price target on shares of DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Jefferies Financial Group boosted their price target on shares of DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Robert W. Baird boosted their price target on shares of DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, DocuSign has a consensus rating of “Hold” and a consensus target price of $92.45.

DocuSign Trading Up 27.9 %

NASDAQ DOCU opened at $106.99 on Friday. The company has a fifty day simple moving average of $74.66 and a 200 day simple moving average of $62.00. DocuSign has a 12-month low of $44.34 and a 12-month high of $107.86. The company 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 posted its quarterly earnings data on Thursday, September 5th. The company reported $0.97 earnings per share (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 net margin of 34.56% and a return on equity of 16.18%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.09 EPS. Sell-side analysts predict that DocuSign will post 1.03 EPS for the current year.

Insider Buying and Selling

In other DocuSign news, insider Robert Chatwani sold 14,799 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $55.46, for a total value of $820,752.54. Following the completion of the sale, the insider now owns 70,748 shares of the company’s stock, valued at $3,923,684.08. This represents a 17.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $56.56, for a total value of $30,203.04. Following the completion of the sale, the director now directly owns 7,202 shares of the company’s stock, valued at approximately $407,345.12. This represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,596 shares of company stock worth $4,441,529. Insiders own 1.66% of the company’s stock.

Institutional Trading of DocuSign

Institutional investors have recently made changes to their positions in the stock. Itau Unibanco Holding S.A. purchased a new stake in shares of DocuSign during the third quarter valued at approximately $28,000. Mather Group LLC. raised its holdings in shares of DocuSign by 4,338.5% during the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock valued at $31,000 after acquiring an additional 564 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of DocuSign during the third quarter valued at approximately $33,000. Reston Wealth Management LLC bought a new position in shares of DocuSign during the third quarter valued at approximately $47,000. Finally, nVerses Capital LLC bought a new position in shares of DocuSign during the second quarter valued at approximately $48,000. Hedge funds and other 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.