DocuSign (NASDAQ:DOCU) Earns "Market Outperform" Rating from JMP Securities

DocuSign (NASDAQ:DOCU - Get Free Report)'s stock had its "market outperform" rating restated by JMP Securities in a report released on Tuesday,Benzinga reports. They currently have a $124.00 target price on the stock. JMP Securities' price target points to a potential upside of 32.14% from the stock's current price.

Several other research analysts have also recently commented on DOCU. Morgan Stanley reduced their target price on DocuSign from $97.00 to $92.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Jefferies Financial Group reduced their target price on DocuSign from $115.00 to $105.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Wells Fargo & Company reduced their target price on DocuSign from $73.00 to $65.00 and set an "underweight" rating for the company in a research report on Tuesday, April 22nd. Citigroup raised their target price on DocuSign from $113.00 to $115.00 and gave the stock a "buy" rating in a research report on Friday, March 14th. Finally, William Blair reiterated an "outperform" rating on shares of DocuSign in a research note on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $92.46.

DocuSign Price Performance

Shares of DocuSign stock traded up $2.23 during trading on Tuesday, hitting $93.84. The stock had a trading volume of 3,742,760 shares, compared to its average volume of 2,783,348. DocuSign has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The firm has a market cap of $19.00 billion, a P/E ratio of 19.35, a PEG ratio of 6.94 and a beta of 1.21. The business has a fifty day moving average of $81.79 and a two-hundred day moving average of $86.10.

DocuSign (NASDAQ:DOCU - Get Free Report) last issued its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.02. The company had revenue of $776.25 million for the quarter, compared to analyst estimates of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The business's revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.76 EPS. As a group, research analysts forecast that DocuSign will post 1.17 earnings per share for the current year.

Insider Buying and Selling

In other DocuSign news, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction on 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. The trade was a 6.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of DocuSign stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $76.09, for a total transaction of $608,720.00. Following the completion of the sale, the chief financial officer now owns 86,156 shares in the company, valued at $6,555,610.04. The trade was a 8.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,851 shares of company stock worth $3,912,239 over the last ninety days. Company insiders own 1.01% of the company's stock.

Institutional Investors Weigh In On DocuSign

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers increased its stake in shares of DocuSign by 118.8% during the 4th quarter. Rhumbline Advisers now owns 608,123 shares of the company's stock worth $54,695,000 after purchasing an additional 330,136 shares during the last quarter. Jennison Associates LLC bought a new stake in shares of DocuSign during the 4th quarter worth about $12,897,000. Principal Financial Group Inc. boosted its holdings in DocuSign by 3,026.7% in the 4th quarter. Principal Financial Group Inc. now owns 546,796 shares of the company's stock valued at $49,179,000 after purchasing an additional 529,308 shares during the period. Amundi boosted its holdings in DocuSign by 565.8% in the 4th quarter. Amundi now owns 1,379,575 shares of the company's stock valued at $123,486,000 after purchasing an additional 1,172,368 shares during the period. Finally, SBI Securities Co. Ltd. bought a new stake in DocuSign in the 4th quarter valued at about $882,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.

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.