DocuSign (NASDAQ:DOCU) Upgraded to Hold at HSBC

HSBC upgraded shares of DocuSign (NASDAQ:DOCU - Free Report) from a reduce rating to a hold rating in a report released on Friday, MarketBeat reports. The firm currently has $70.00 price objective on the stock.

DOCU has been the topic of several other reports. JMP Securities reissued a "market outperform" rating and issued a $124.00 target price on shares of DocuSign in a report on Tuesday, January 7th. Jefferies Financial Group cut their price objective on shares of DocuSign from $115.00 to $105.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Robert W. Baird set a $93.00 price objective on shares of DocuSign in a research note on Friday, March 14th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $90.00 target price on shares of DocuSign in a research note on Friday, March 14th. Finally, Bank of America decreased their price objective on shares of DocuSign from $112.00 to $98.00 and set a "neutral" rating for the company in a report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $93.46.

DocuSign Stock Down 2.0 %

Shares of NASDAQ:DOCU traded down $1.58 during midday trading on Friday, reaching $75.91. The company's stock had a trading volume of 1,182,871 shares, compared to its average volume of 2,721,492. The firm has a 50 day moving average of $82.19 and a 200-day moving average of $82.95. The firm has a market capitalization of $15.37 billion, a P/E ratio of 15.65, a PEG ratio of 6.94 and a beta of 1.20. DocuSign has a 12-month low of $48.70 and a 12-month high of $107.86.

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

Insider Transactions at DocuSign

In other news, CFO Blake Jeffrey Grayson sold 8,000 shares of the firm's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $86.90, for a total value of $695,200.00. Following the transaction, the chief financial officer now owns 77,851 shares of the company's stock, valued at $6,765,251.90. This trade represents a 9.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Teresa Briggs sold 534 shares of the business's stock in a transaction that occurred 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 transaction, the director now owns 8,270 shares of the company's stock, valued at approximately $722,880.70. This trade represents a 6.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,851 shares of company stock worth $3,998,719 in the last 90 days. 1.66% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Kestra Investment Management LLC bought a new stake in DocuSign during the fourth quarter valued at about $30,000. Modus Advisors LLC purchased a new stake in shares of DocuSign during the fourth quarter worth about $36,000. First Horizon Advisors Inc. raised its stake in DocuSign by 102.6% during the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock valued at $36,000 after purchasing an additional 201 shares during the period. Wood Tarver Financial Group LLC purchased a new position in DocuSign in the 4th quarter worth approximately $37,000. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in DocuSign by 153.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 453 shares of the company's stock worth $37,000 after purchasing an additional 274 shares during the period. Hedge funds and other institutional investors own 77.64% of the company's stock.

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.