Analysts Set Docusign Inc. (NASDAQ:DOCU) Price Target at $89.77

Docusign Inc. (NASDAQ:DOCU - Get Free Report) has been assigned an average rating of "Hold" from the sixteen brokerages that are covering the company, MarketBeat.com reports. Twelve investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $89.77.

A number of equities research analysts have recently issued reports on the stock. Hsbc Global Res raised shares of Docusign from a "moderate sell" rating to a "hold" rating in a research note on Friday, April 11th. Morgan Stanley cut their price objective on shares of Docusign from $92.00 to $86.00 and set an "equal weight" rating for the company in a research note on Friday, June 6th. Needham & Company LLC reiterated a "hold" rating on shares of Docusign in a report on Friday, June 6th. Jefferies Financial Group lowered their price target on shares of Docusign from $115.00 to $105.00 and set a "buy" rating for the company in a report on Monday, March 31st. Finally, Robert W. Baird lowered their price target on shares of Docusign from $93.00 to $85.00 and set a "neutral" rating for the company in a report on Friday, June 6th.

Docusign Trading Down 1.7%

Shares of NASDAQ DOCU traded down $1.38 during midday trading on Friday, hitting $77.64. The company's stock had a trading volume of 2,256,764 shares, compared to its average volume of 2,865,457. The stock has a fifty day moving average price of $82.11 and a 200 day moving average price of $84.31. Docusign has a one year low of $48.80 and a one year high of $107.86. The firm has a market capitalization of $15.69 billion, a price-to-earnings ratio of 14.68, a P/E/G ratio of 29.49 and a beta of 1.08.

Docusign (NASDAQ:DOCU - Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The company reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.81 by $0.09. Docusign had a net margin of 36.50% and a return on equity of 14.27%. The business had revenue of $763.65 million during the quarter, compared to analysts' expectations of $748.79 million. During the same quarter in the previous year, the company earned $0.82 EPS. The business's quarterly revenue was up 7.6% compared to the same quarter last year. On average, equities research analysts predict that Docusign will post 1.17 earnings per share for the current fiscal year.

Docusign declared that its Board of Directors has initiated a stock buyback program on Thursday, June 5th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to repurchase up to 6.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at Docusign

In related news, insider Robert Chatwani sold 22,875 shares of the stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $74.79, for a total transaction of $1,710,821.25. Following the sale, the insider directly owned 72,126 shares of the company's stock, valued at approximately $5,394,303.54. This represents a 24.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Teresa Briggs sold 534 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $74.37, for a total transaction of $39,713.58. Following the sale, the director directly owned 8,805 shares in the company, valued at $654,827.85. This trade represents a 5.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 86,552 shares of company stock valued at $6,592,351 in the last quarter. 1.66% of the stock is owned by insiders.

Institutional Trading of Docusign

Institutional investors have recently bought and sold shares of the company. Hedges Asset Management LLC purchased a new stake in shares of Docusign during the 2nd quarter valued at about $206,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Docusign by 11.7% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,145 shares of the company's stock valued at $167,000 after acquiring an additional 225 shares during the last quarter. Kera Capital Partners Inc. boosted its holdings in shares of Docusign by 7.2% during the 2nd quarter. Kera Capital Partners Inc. now owns 3,868 shares of the company's stock valued at $301,000 after acquiring an additional 261 shares during the last quarter. Real Talk Capital LLC boosted its holdings in shares of Docusign by 9.9% during the 1st quarter. Real Talk Capital LLC now owns 2,809 shares of the company's stock valued at $229,000 after acquiring an additional 252 shares during the last quarter. Finally, Voya Investment Management LLC boosted its holdings in shares of Docusign by 151.2% during the 1st quarter. Voya Investment Management LLC now owns 320,772 shares of the company's stock valued at $26,111,000 after acquiring an additional 193,100 shares during the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

Docusign Company Profile

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.