DocuSign Stock Rating and Price Insights

DocuSign (NASDAQ:DOCU – Get Free Report) has recently been given a "hold" rating by analysts at Needham & Company LLC. This update was communicated to investors in a note released on a Friday, as reported by Benzinga.

There have been several recent updates from other analysts regarding DocuSign's stock. For instance, the Royal Bank of Canada increased their target share price from $52.00 to $57.00, while also giving the company a "sector perform" rating in a report published on September 6.

Similarly, JMP Securities raised their target price from $84.00 to $108.00, assigning a "market outperform" rating in a note dated November 22. On December 3, JPMorgan Chase & Co. increased their target price for DocuSign from $50.00 to $70.00 but issued an "underweight" rating. Furthermore, Wells Fargo & Company adjusted their price target from $48.00 to $50.00 while giving the stock an "underweight" rating, also reported on September 6. Jefferies Financial Group did a fourth adjustment, raising their target from $80.00 to $95.00 and granting the stock a "buy" rating on December 3.

Research indicates that three analysts have provided a sell rating, while seven have assigned a hold rating and three have issued buy ratings. According to MarketBeat.com, the consensus rating for DocuSign stands at "Hold" with a target price of approximately $92.45.

DocuSign Stock Performance

On Friday, DocuSign's stock opened at $106.99. The company's shares range from a 52-week low of $44.34 to a high of $107.86, with a current market cap of $21.72 billion. The stock has a price-to-earnings (PE) ratio of 22.06 and a price-to-earnings-growth (PEG) ratio of 8.70, with a beta of 0.92. Over the last 50 days, the moving average price has been $74.66, while its 200-day moving average is $62.01.

DocuSign reported its quarterly earnings on September 5, announcing earnings per share (EPS) of $0.97, surpassing the consensus estimate of $0.80 by $0.17. The firm achieved a return on equity of 16.18% and has a net margin of 34.56%. Revenue for the quarter was $736.03 million, ahead of the projected $727.20 million by analysts. Compared to the same period last year, this revenue reflects a 7.0% increase. Analysts predict that DocuSign will report an EPS of 1.03 for the current fiscal year.

Insider Transactions

In related news, CEO Allan C. Thygesen sold 7,763 shares on December 2, at an average price of $80.54, amounting to a total of $625,232.02. Following this transaction, he retained ownership of 100,062 shares valued at about $8,058,993.48, which represents a decrease of 7.20% in his stock holdings. This transaction is documented in a filing with the Securities and Exchange Commission.

Additionally, CFO Blake Jeffrey Grayson sold 14,036 shares on September 18 for an average of $55.47, totaling $778,576.92. He now owns 87,611 shares of the company, valued at approximately $4,859,782.17, reflecting a 13.81% reduction in his stake. In the last three months, insiders have sold 69,596 shares for an aggregate of $4,441,529. Presently, insiders own 1.66% of DocuSign's stock.

Institutional Investment Trends

There have been significant changes among institutional investors regarding DocuSign. Inspire Investing LLC acquired a new stake in the company during the third quarter amounting to approximately $911,000. Charles Schwab Investment Management Inc. increased its holdings by 1.2% during this same period, now owning 1,328,355 shares valued at about $82,478,000 after acquiring an additional 16,014 shares.

Comerica Bank expanded its stake by 228.8% in the first quarter, holding 28,901 shares worth $1,721,000 after buying an additional 20,110 shares. International Assets Investment Management LLC raised its holdings by an impressive 5,660.8% in the third quarter, now owning 438,914 shares valued at $27,252,000, following an acquisition of 431,295 shares in the recent quarter. Lastly, Quantinno Capital Management LP increased its stake by 39.5% in that same quarter, bringing its total to 201,546 shares worth $12,514,000. These institutional investors and hedge funds hold approximately 77.64% of DocuSign's stock.

About DocuSign

DocuSign, Inc. specializes in providing electronic signature solutions both in the United States and internationally. Their services include e-signature technology, contract lifecycle management (CLM) for automating workflows throughout the agreement process, document generation for streamlined custom agreements, and a feature called Gen for Salesforce that facilitates agreement generation with just a few clicks from within Salesforce.

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