Docusign (DOCU) Raised to “Hold” at Zacks Investment Research

Share on StockTwits

Docusign (NASDAQ:DOCU) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday.

According to Zacks, “DocuSign Inc. provides e-signature solutions. The Company offers services to mortgage, non-profit, government, real estate, insurance, technology and healthcare industries. Its product portfolio includes trial, single-user, multi-user, business pro, enterprise pro, standards-based signatures, ehanko, DocuSign transaction rooms for real estate, DocuSign payments and enotary. DocuSign Inc. is based in San Francisco, United States. “

DOCU has been the subject of several other research reports. Wedbush assumed coverage on shares of Docusign in a research note on Thursday, October 18th. They issued a “neutral” rating and a $45.00 target price for the company. Bank of America upped their target price on shares of Docusign from $63.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, September 6th. Morgan Stanley upped their target price on shares of Docusign from $46.00 to $50.00 and gave the company an “equal weight” rating in a research note on Thursday, September 6th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $88.00 target price on shares of Docusign in a research note on Thursday, September 6th. Finally, JMP Securities upped their target price on shares of Docusign from $63.00 to $68.00 and gave the company a “market outperform” rating in a research note on Thursday, September 6th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Docusign currently has a consensus rating of “Hold” and a consensus target price of $60.60.

NASDAQ:DOCU traded down $0.39 during trading hours on Friday, hitting $44.43. The stock had a trading volume of 994,700 shares, compared to its average volume of 1,806,821. Docusign has a one year low of $37.00 and a one year high of $68.35.

Docusign (NASDAQ:DOCU) last issued its earnings results 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 firm had revenue of $167.04 million during the quarter, compared to the consensus estimate of $158.70 million. The firm’s revenue was up 33.1% compared to the same quarter last year. On average, research analysts anticipate that Docusign will post -2.46 EPS for the current year.

In other news, Director Peter Solvik sold 1,304,348 shares of the stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of $55.00, for a total transaction of $71,739,140.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Several hedge funds have recently modified their holdings of DOCU. Opera Trading Capital bought a new position in Docusign in the third quarter valued at $101,000. Valeo Financial Advisors LLC grew its position in Docusign by 914.5% in the third quarter. Valeo Financial Advisors LLC now owns 2,790 shares of the company’s stock valued at $117,000 after purchasing an additional 2,515 shares in the last quarter. FNY Investment Advisers LLC bought a new position in Docusign in the second quarter valued at $131,000. Bank of Montreal Can bought a new position in Docusign in the second quarter valued at $145,000. Finally, State of Alaska Department of Revenue bought a new position in Docusign in the second quarter valued at $160,000. 34.44% 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.

Recommended Story: Rule of 72

Get a free copy of the Zacks research report on Docusign (DOCU)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Docusign (NASDAQ:DOCU)

Receive News & Ratings for Docusign Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Docusign and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply