DocuSign (NASDAQ:DOCU) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

DocuSign (NASDAQ:DOCU - Get Free Report) had its price objective upped by equities research analysts at Wells Fargo & Company from $65.00 to $67.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an "underweight" rating on the stock. Wells Fargo & Company's price target points to a potential downside of 14.74% from the stock's current price.

A number of other research analysts also recently issued reports on DOCU. Wedbush decreased their price objective on DocuSign from $100.00 to $85.00 and set a "neutral" rating for the company in a report on Friday. Citigroup increased their price objective on DocuSign from $113.00 to $115.00 and gave the stock a "buy" rating in a report on Friday, March 14th. Bank of America decreased their price target on DocuSign from $112.00 to $98.00 and set a "neutral" rating for the company in a research note on Friday, March 14th. Morgan Stanley decreased their price target on DocuSign from $97.00 to $92.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Finally, HSBC upgraded DocuSign from a "reduce" rating to a "hold" rating and set a $70.00 price objective on the stock in a research note on Friday, April 11th. 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, the stock has a consensus rating of "Hold" and a consensus target price of $88.77.

DocuSign Trading Up 4.4%

Shares of NASDAQ:DOCU traded up $3.30 during trading on Friday, hitting $78.58. 10,363,527 shares of the company's stock traded hands, compared to its average volume of 2,828,095. The company has a market cap of $15.91 billion, a price-to-earnings ratio of 16.20, a price-to-earnings-growth ratio of 6.94 and a beta of 1.14. DocuSign has a 52 week low of $48.80 and a 52 week high of $107.86. The company has a 50-day moving average price of $82.08 and a 200-day moving average price of $86.32.

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

DocuSign declared that its Board of Directors has approved a stock buyback program on Thursday, June 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to repurchase up to 6.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its stock is undervalued.

Insider Transactions at DocuSign

In related news, Director Teresa Briggs sold 534 shares of the business'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 sale, the director now directly owns 8,270 shares in the company, valued at $722,880.70. The trade was a 6.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the company's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $76.09, for a total value of $608,720.00. Following the completion of the transaction, the chief financial officer now directly owns 86,156 shares in the company, valued at approximately $6,555,610.04. This represents a 8.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 47,851 shares of company stock worth $3,912,239. 1.01% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DOCU. DAVENPORT & Co LLC grew its holdings in DocuSign by 11.9% in the 4th quarter. DAVENPORT & Co LLC now owns 12,826 shares of the company's stock valued at $1,154,000 after buying an additional 1,363 shares in the last quarter. Yousif Capital Management LLC bought a new stake in shares of DocuSign during the 4th quarter valued at $6,450,000. Stratos Wealth Partners LTD. bought a new stake in shares of DocuSign during the 4th quarter valued at $224,000. Stratos Wealth Advisors LLC bought a new stake in shares of DocuSign during the 4th quarter valued at $1,116,000. Finally, Choreo LLC lifted its position in shares of DocuSign by 15.3% during the 4th quarter. Choreo LLC now owns 5,973 shares of the company's stock valued at $547,000 after acquiring an additional 791 shares during the period. 77.64% of the stock is 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.