Docusign (NASDAQ:DOCU) had its target price lifted by analysts at Wedbush from $65.00 to $80.00 in a note issued to investors on Wednesday, MarketBeat reports. The brokerage presently has an “outperform” rating on the stock. Wedbush’s price objective would suggest a potential upside of 25.94% from the company’s previous close.
DOCU has been the subject of several other reports. JPMorgan Chase & Co. raised their price target on shares of Docusign from $88.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Royal Bank of Canada raised their price target on shares of Docusign from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Zacks Investment Research cut shares of Docusign from a “hold” rating to a “sell” rating in a report on Wednesday, September 11th. Danske assumed coverage on shares of Docusign in a report on Friday, August 16th. They set a “buy” rating and a $52.00 price target for the company. Finally, JMP Securities raised their price target on shares of Docusign from $68.00 to $70.00 and gave the stock a “market outperform” rating in a report on Friday, September 6th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $67.47.
Shares of Docusign stock traded down $3.12 during trading on Wednesday, hitting $63.52. The stock had a trading volume of 2,375,584 shares, compared to its average volume of 3,465,968. The stock has a 50 day simple moving average of $59.94 and a 200 day simple moving average of $53.84. The company has a market capitalization of $11.73 billion, a PE ratio of -21.90 and a beta of 1.45. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 1.06. Docusign has a 1 year low of $35.06 and a 1 year high of $68.17.
Docusign (NASDAQ:DOCU) last released its earnings results on Thursday, September 5th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.24. The business had revenue of $235.61 million for the quarter, compared to the consensus estimate of $220.81 million. Docusign had a negative net margin of 28.20% and a negative return on equity of 26.70%. The firm’s quarterly revenue was up 41.0% compared to the same quarter last year. During the same period last year, the firm posted $0.03 earnings per share. As a group, equities analysts expect that Docusign will post -1.04 earnings per share for the current fiscal year.
In other Docusign news, CRO Loren Alhadeff sold 11,400 shares of Docusign stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $67.98, for a total value of $774,972.00. Also, COO Scott V. Olrich sold 2,000 shares of Docusign stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $67.70, for a total transaction of $135,400.00. Insiders sold 66,698 shares of company stock valued at $4,051,109 over the last quarter. Corporate insiders own 13.60% of the company’s stock.
Several institutional investors have recently modified their holdings of DOCU. North Star Investment Management Corp. acquired a new stake in shares of Docusign in the third quarter worth $25,000. Wealthcare Advisory Partners LLC acquired a new stake in shares of Docusign in the second quarter worth $36,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Docusign by 261.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 769 shares of the company’s stock worth $38,000 after buying an additional 556 shares during the last quarter. Rehmann Capital Advisory Group lifted its stake in shares of Docusign by 226.1% in the first quarter. Rehmann Capital Advisory Group now owns 874 shares of the company’s stock worth $45,000 after buying an additional 606 shares during the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Docusign in the second quarter worth $47,000. Institutional investors and hedge funds own 69.42% of the company’s stock.
DocuSign, Inc provides cloud based software in the United States. The company offers e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. The company sells its products through direct, partner-assisted, and Web-based sales. It serves enterprise businesses, commercial businesses, and small businesses, such as professionals, sole proprietorships and individuals.
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