Morgan Stanley Cuts DocuSign (NASDAQ:DOCU) Price Target to $92.00

DocuSign (NASDAQ:DOCU - Free Report) had its target price cut by Morgan Stanley from $97.00 to $92.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

DOCU has been the topic of a number of other reports. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $90.00 price objective on shares of DocuSign in a research report on Friday, March 14th. 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. Bank of America lowered their target price on DocuSign from $112.00 to $98.00 and set a "neutral" rating on the stock in a research note on Friday, March 14th. UBS Group cut their price target on DocuSign from $100.00 to $90.00 and set a "neutral" rating for the company in a research note on Friday, March 14th. Finally, Wells Fargo & Company lifted their price target on DocuSign from $70.00 to $73.00 and gave the company an "underweight" rating in a report on Friday, March 14th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $93.08.

DocuSign Stock Down 4.7 %

Shares of DOCU stock traded down $3.53 during trading hours on Wednesday, reaching $71.89. 1,419,208 shares of the stock traded hands, compared to its average volume of 2,734,907. The business has a fifty day moving average price of $81.35 and a 200 day moving average price of $83.38. DocuSign has a 1-year low of $48.70 and a 1-year high of $107.86. The firm has a market capitalization of $14.56 billion, a PE ratio of 14.82, a PEG ratio of 6.94 and a beta of 1.20.

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

Insider Activity

In related news, Director Teresa Briggs sold 534 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $87.41, for a total value of $46,676.94. Following the completion of the transaction, the director now directly owns 8,270 shares of the company's stock, valued at $722,880.70. This trade represents a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 16,111 shares of DocuSign stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $83.20, for a total transaction of $1,340,435.20. Following the sale, the chief financial officer now owns 93,960 shares in the company, valued at $7,817,472. This represents a 14.64 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,851 shares of company stock valued at $4,607,439. 1.66% of the stock is owned by company insiders.

Hedge Funds Weigh In On DocuSign

Hedge funds and other institutional investors have recently made changes to their positions in the business. Kestra Investment Management LLC bought a new position in DocuSign during the fourth quarter worth about $30,000. First Horizon Advisors Inc. lifted its position in shares of DocuSign by 102.6% during the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock worth $36,000 after buying an additional 201 shares during the period. Modus Advisors LLC acquired a new stake in DocuSign in the 4th quarter valued at $36,000. Wood Tarver Financial Group LLC bought a new stake in DocuSign in the fourth quarter valued at $37,000. Finally, McIlrath & Eck LLC raised its stake in DocuSign by 476.0% during the fourth quarter. McIlrath & Eck LLC now owns 432 shares of the company's stock worth $39,000 after acquiring an additional 357 shares in the last quarter. 77.64% of the stock is owned by 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.