Docusign (DOCU) Given New $50.00 Price Target at Morgan Stanley

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Docusign (NASDAQ:DOCU) had its target price lifted by Morgan Stanley from $46.00 to $50.00 in a research note published on Thursday. Morgan Stanley currently has an equal weight rating on the stock.

Several other brokerages have also commented on DOCU. JMP Securities increased their price objective on shares of Docusign from $63.00 to $68.00 and gave the company a market outperform rating in a research report on Thursday. Zacks Investment Research raised shares of Docusign from a sell rating to a hold rating in a research report on Wednesday, August 8th. JPMorgan Chase & Co. reissued an overweight rating and set a $88.00 price target on shares of Docusign in a research report on Thursday. Deutsche Bank raised their price target on shares of Docusign from $45.00 to $50.00 and gave the stock a hold rating in a research report on Friday, June 8th. Finally, William Blair began coverage on shares of Docusign in a research report on Tuesday, May 22nd. They set an outperform rating for the company. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $62.13.

Shares of Docusign stock traded up $1.16 during midday trading on Thursday, hitting $59.01. The company had a trading volume of 19,966 shares, compared to its average volume of 1,275,412. Docusign has a 12-month low of $37.00 and a 12-month high of $68.35.

Docusign (NASDAQ:DOCU) last announced its quarterly earnings data on Wednesday, September 5th. The company reported $0.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.02. The company had revenue of $167.04 million during the quarter, compared to analysts’ expectations of $158.70 million. The firm’s quarterly revenue was up 33.1% on a year-over-year basis. analysts expect that Docusign will post -2.29 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. FNY Investment Advisers LLC purchased a new position in Docusign during the 2nd quarter worth approximately $131,000. Bank of Montreal Can purchased a new position in Docusign during the 2nd quarter worth approximately $145,000. State of Alaska Department of Revenue purchased a new position in Docusign during the 2nd quarter worth approximately $160,000. Westpac Banking Corp purchased a new position in Docusign during the 2nd quarter worth approximately $193,000. Finally, Keybank National Association OH purchased a new position in Docusign during the 2nd quarter worth approximately $245,000. 33.28% of the stock is owned by institutional investors.

Docusign Company Profile

DocuSign, Inc provides cloud based transaction products and services in the United States. The company offers e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. It serves large enterprises, sole proprietorships, small- to medium-sized businesses, professionals, and individuals.

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