UBS Group Has Lowered Expectations for DocuSign (NASDAQ:DOCU) Stock Price

DocuSign (NASDAQ:DOCU - Get Free Report) had its price target decreased by UBS Group from $85.00 to $80.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a "neutral" rating on the stock. UBS Group's target price would suggest a potential upside of 6.27% from the company's current price.

A number of other research analysts have also recently weighed in on DOCU. Royal Bank of Canada reiterated a "sector perform" rating and set a $90.00 price objective on shares of DocuSign in a research report on Friday, March 14th. William Blair reaffirmed an "outperform" rating on shares of DocuSign in a research note on Monday, April 21st. Needham & Company LLC reaffirmed a "hold" rating on shares of DocuSign in a research note on Friday. HSBC raised shares of DocuSign from a "reduce" rating to a "hold" rating and set a $70.00 price target on the stock in a research note on Friday, April 11th. Finally, Wedbush reaffirmed a "neutral" rating and issued a $100.00 price target on shares of DocuSign in a research note on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $89.15.

DocuSign Stock Performance

DOCU stock traded down $17.62 during mid-day trading on Friday, reaching $75.28. 22,572,298 shares of the stock traded hands, compared to its average volume of 2,857,113. DocuSign has a one year low of $48.70 and a one year high of $107.86. The stock has a market capitalization of $15.24 billion, a PE ratio of 15.52, a PEG ratio of 6.94 and a beta of 1.21. The business has a 50-day moving average price of $82.23 and a two-hundred day moving average price of $86.25.

DocuSign (NASDAQ:DOCU - Get Free Report) last posted its quarterly earnings data on Thursday, June 5th. The company reported $0.90 earnings per share for the quarter, beating analysts' consensus estimates of $0.81 by $0.09. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The business had revenue of $763.65 million for the quarter, compared to analysts' expectations of $748.79 million. During the same quarter in the previous year, the business posted $0.82 earnings per share. The business's revenue was up 7.6% compared to the same quarter last year. On average, equities analysts expect 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 buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 6.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Insider Activity

In other news, Director Teresa Briggs sold 534 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $87.41, for a total value of $46,676.94. Following the sale, the director now directly owns 8,270 shares in the company, valued at approximately $722,880.70. This trade represents a 6.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 16,111 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $83.20, for a total transaction of $1,340,435.20. Following the completion of the transaction, the chief financial officer now directly owns 93,960 shares of the company's stock, valued at $7,817,472. The trade was a 14.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,851 shares of company stock worth $3,912,239. Corporate insiders own 1.01% of the company's stock.

Hedge Funds Weigh In On DocuSign

A number of institutional investors have recently bought and sold shares of the business. Palogic Value Management L.P. raised its position in DocuSign by 2.2% during the 1st quarter. Palogic Value Management L.P. now owns 5,438 shares of the company's stock worth $443,000 after buying an additional 117 shares during the last quarter. Wealthspire Advisors LLC increased its holdings in shares of DocuSign by 1.9% during the 1st quarter. Wealthspire Advisors LLC now owns 6,579 shares of the company's stock valued at $536,000 after purchasing an additional 122 shares in the last quarter. Foundry Partners LLC increased its holdings in shares of DocuSign by 1.5% during the 1st quarter. Foundry Partners LLC now owns 8,491 shares of the company's stock valued at $691,000 after purchasing an additional 125 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of DocuSign by 27.5% during the 1st quarter. Bessemer Group Inc. now owns 602 shares of the company's stock valued at $49,000 after purchasing an additional 130 shares in the last quarter. Finally, Citizens Financial Group Inc. RI increased its holdings in shares of DocuSign by 2.3% during the 4th quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company's stock valued at $539,000 after purchasing an additional 133 shares in the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

About DocuSign

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.