Docusign Inc. (NASDAQ:DOCU) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• Analysts maintain a “Hold” consensus on Docusign, with 14 hold, four buy and one sell rating among 19 brokerages. The average 12-month price target is $60.27.
• Docusign’s latest quarterly results beat expectations, with adjusted EPS of $1.09 versus the $0.99 consensus and revenue of $830.24 million, up 8.7% year over year.
• Insiders sold 90,965 shares worth approximately $4.34 million over the past 90 days, while institutional investors and hedge funds own 77.64% of the company.

Docusign Inc. (NASDAQ:DOCU - Get Free Report) has received a consensus recommendation of "Hold" from the nineteen brokerages that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $60.2667.

Several research firms have recently commented on DOCU. BTIG Research reduced their target price on Docusign from $70.00 to $60.00 and set a "buy" rating for the company in a research note on Friday, June 5th. Wall Street Zen lowered shares of Docusign from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 2nd. Jefferies Financial Group upped their price target on shares of Docusign from $45.00 to $50.00 and gave the company a "hold" rating in a report on Friday, June 5th. Citigroup reiterated a "market outperform" rating on shares of Docusign in a research note on Tuesday, August 18th. Finally, Bank of America reissued an "underperform" rating on shares of Docusign in a report on Friday.

Insider Buying and Selling at Docusign

In related news, CRO Paula Hansen sold 6,000 shares of Docusign stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $45.54, for a total value of $273,240.00. Following the completion of the transaction, the executive directly owned 89,972 shares in the company, valued at approximately $4,097,324.88. This trade represents a 6.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Chatwani sold 15,902 shares of Docusign 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 transaction, the insider owned 72,805 shares of the company's stock, valued at $3,131,343.05. This trade represents a 17.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 90,965 shares of company stock valued at $4,341,688. Corporate insiders own 0.59% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Bank of America Corp DE increased its stake in Docusign by 23.3% during the first quarter. Bank of America Corp DE now owns 1,193,163 shares of the company's stock valued at $56,568,000 after purchasing an additional 225,801 shares during the last quarter. Capital World Investors raised its holdings in shares of Docusign by 38.1% during the fourth quarter. Capital World Investors now owns 5,815,804 shares of the company's stock worth $397,801,000 after purchasing an additional 1,603,900 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Docusign by 247.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 349,038 shares of the company's stock worth $15,504,000 after buying an additional 248,597 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in shares of Docusign in the 4th quarter worth about $6,897,000. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Docusign in the 4th quarter valued at about $1,750,000. Institutional investors and hedge funds own 77.64% of the company's stock.

Docusign Stock Performance

Shares of NASDAQ DOCU opened at $64.64 on Wednesday. Docusign has a 1 year low of $40.16 and a 1 year high of $86.65. The stock's 50-day simple moving average is $54.35 and its 200-day simple moving average is $49.43. The firm has a market cap of $12.34 billion, a price-to-earnings ratio of 41.97, a PEG ratio of 1.92 and a beta of 0.90.

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

Docusign Company Profile

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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