DocuSign's (DOCU) "Hold" Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of DocuSign (NASDAQ:DOCU - Free Report) in a research report report published on Friday morning,Benzinga reports.

Other equities research analysts have also issued research reports about the company. Morgan Stanley dropped their target price on DocuSign from $97.00 to $92.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. JPMorgan Chase & Co. upgraded shares of DocuSign from an "underweight" rating to a "neutral" rating and lifted their price objective for the company from $70.00 to $75.00 in a report on Monday, March 10th. JMP Securities restated a "market outperform" rating and set a $124.00 target price on shares of DocuSign in a report on Tuesday. Bank of America decreased their target price on shares of DocuSign from $112.00 to $98.00 and set a "neutral" rating for the company in a research report on Friday, March 14th. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $90.00 price objective on shares of DocuSign in a research note on Friday, March 14th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $89.15.

DocuSign Stock Performance

NASDAQ DOCU traded down $17.62 during trading hours on Friday, reaching $75.28. 22,572,298 shares of the company's stock were exchanged, compared to its average volume of 2,857,113. The company has a market capitalization of $15.24 billion, a price-to-earnings ratio of 15.52, a price-to-earnings-growth ratio of 6.94 and a beta of 1.21. The company's 50-day moving average is $82.23 and its two-hundred day moving average is $86.25. DocuSign has a one year low of $48.70 and a one year high of $107.86.

DocuSign (NASDAQ:DOCU - Get Free Report) last announced its earnings results on Thursday, June 5th. The company reported $0.90 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.09. The firm had revenue of $763.65 million during the quarter, compared to analyst estimates of $748.79 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The company's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.82 EPS. Research analysts predict that DocuSign will post 1.17 earnings per share for the current fiscal year.

Insider Buying and Selling at DocuSign

In related news, CFO Blake Jeffrey Grayson sold 16,111 shares of DocuSign stock in a transaction dated 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 sale, the chief financial officer now owns 93,960 shares of the company's stock, valued at approximately $7,817,472. The trade was a 14.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Teresa Briggs sold 534 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $87.41, for a total transaction of $46,676.94. Following the sale, the director now 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 disclosure for this sale can be found here. Insiders have sold 47,851 shares of company stock worth $3,912,239 over the last 90 days. Company insiders own 1.01% of the company's stock.

Institutional Trading of DocuSign

Institutional investors have recently added to or reduced their stakes in the company. Anderson Financial Strategies LLC bought a new position in DocuSign during the 1st quarter worth $91,000. Strs Ohio acquired a new position in shares of DocuSign in the first quarter valued at about $1,082,000. Wealth Management Associates Inc. increased its position in DocuSign by 6.3% during the first quarter. Wealth Management Associates Inc. now owns 9,810 shares of the company's stock worth $799,000 after acquiring an additional 580 shares during the period. Plato Investment Management Ltd increased its position in DocuSign by 3.8% during the first quarter. Plato Investment Management Ltd now owns 8,581 shares of the company's stock worth $706,000 after acquiring an additional 311 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in DocuSign by 18.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,028,505 shares of the company's stock worth $165,120,000 after purchasing an additional 318,698 shares in the last quarter. 77.64% of the stock is currently owned by 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.