BTIG Research Issues Positive Forecast for Docusign (NASDAQ:DOCU) Stock Price

Key Points

• BTIG Research raised its Docusign price target to $75 from $60 and maintained a “buy” rating, implying about 16% upside from the previous close.
• Docusign reported quarterly EPS of $1.09, beating estimates by $0.10, while revenue of $830.24 million exceeded forecasts and rose 8.7% year over year.
• Analyst sentiment remains mixed: four analysts rate the stock a Buy, 14 a Hold, and one a Sell, producing a consensus “Hold” rating and $61.27 price target. Insiders have sold $4.34 million of shares over the past 90 days.

Docusign (NASDAQ:DOCU - Get Free Report) had its target price raised by analysts at BTIG Research from $60.00 to $75.00 in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The firm currently has a "buy" rating on the stock. BTIG Research's target price points to a potential upside of 16.03% from the company's previous close.

Other equities research analysts also recently issued reports about the company. Wells Fargo & Company reduced their price objective on Docusign from $60.00 to $55.00 and set an "equal weight" rating for the company in a report on Friday, June 5th. Needham & Company LLC restated a "hold" rating on shares of Docusign in a research note on Friday, June 5th. Citigroup reaffirmed a "market outperform" rating on shares of Docusign in a report on Tuesday, August 18th. Weiss Ratings upgraded shares of Docusign from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 25th. Finally, Wedbush decreased their price objective on shares of Docusign from $60.00 to $58.00 and set a "neutral" rating for the company in a report on Friday, June 5th. Four analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $61.27.

Docusign Stock Down 2.5%

Shares of NASDAQ DOCU opened at $64.64 on Wednesday. The firm has a market cap of $12.34 billion, a P/E ratio of 41.97, a PEG ratio of 1.92 and a beta of 0.90. Docusign has a twelve month low of $40.16 and a twelve month high of $86.65. The company has a 50 day moving average of $54.35 and a 200 day moving average of $49.43.

Docusign (NASDAQ:DOCU - Get Free Report) last posted its earnings results on Thursday, June 4th. The company reported $1.09 EPS for the quarter, topping analysts' consensus estimates of $0.99 by $0.10. The business had revenue of $830.24 million during the quarter, compared to analyst estimates of $824.71 million. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The company's quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.90 EPS. As a group, equities analysts expect that Docusign will post 2.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Docusign news, CFO Blake Jeffrey Grayson sold 15,000 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $60.00, for a total value of $900,000.00. Following the transaction, the chief financial officer directly owned 126,429 shares in the company, valued at approximately $7,585,740. This trade represents a 10.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Chatwani sold 15,902 shares of the company's stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $43.01, for a total value of $683,945.02. Following the completion of the sale, the insider owned 72,805 shares of the company's stock, valued at approximately $3,131,343.05. The trade was a 17.93% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 90,965 shares of company stock valued at $4,341,688 in the last 90 days. 0.59% of the stock is owned by insiders.

Institutional Trading of Docusign

Several institutional investors have recently made changes to their positions in DOCU. Smartleaf Asset Management LLC increased its holdings in Docusign by 8.2% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,169 shares of the company's stock valued at $166,000 after acquiring an additional 165 shares during the last quarter. Centaurus Financial Inc. boosted its holdings in shares of Docusign by 3.4% during the 3rd quarter. Centaurus Financial Inc. now owns 5,582 shares of the company's stock valued at $402,000 after purchasing an additional 184 shares during the last quarter. Tred Avon Family Wealth LLC boosted its holdings in shares of Docusign by 3.6% during the 1st quarter. Tred Avon Family Wealth LLC now owns 6,176 shares of the company's stock valued at $293,000 after purchasing an additional 215 shares during the last quarter. Sanctuary Advisors LLC grew its position in shares of Docusign by 2.4% during the fourth quarter. Sanctuary Advisors LLC now owns 9,685 shares of the company's stock valued at $662,000 after purchasing an additional 231 shares in the last quarter. Finally, First Citizens Bank & Trust Co. grew its position in shares of Docusign by 2.1% during the first quarter. First Citizens Bank & Trust Co. now owns 11,745 shares of the company's stock valued at $557,000 after purchasing an additional 239 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company's stock.

About Docusign

DocuSign, Inc NASDAQ: DOCU is a leading provider of electronic signature and digital transaction management solutions. The company's flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign's Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign's platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.

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