DocuSign (NASDAQ:DOCU) Given New $65.00 Price Target at Wells Fargo & Company

DocuSign (NASDAQ:DOCU - Get Free Report) had its price objective decreased by research analysts at Wells Fargo & Company from $73.00 to $65.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an "underweight" rating on the stock. Wells Fargo & Company's price target indicates a potential downside of 21.51% from the stock's current price.

Several other research analysts have also issued reports on the stock. JPMorgan Chase & Co. upgraded shares of DocuSign from an "underweight" rating to a "neutral" rating and upped their target price for the stock from $70.00 to $75.00 in a research report on Monday, March 10th. Hsbc Global Res upgraded DocuSign from a "moderate sell" rating to a "hold" rating in a research report on Friday, April 11th. Royal Bank of Canada reissued a "sector perform" rating and set a $90.00 price objective on shares of DocuSign in a report on Friday, March 14th. Needham & Company LLC reaffirmed a "hold" rating on shares of DocuSign in a research note on Thursday, April 17th. Finally, Bank of America decreased their price target on shares of DocuSign from $112.00 to $98.00 and set a "neutral" rating on the stock in a research note on Friday, March 14th. One 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 data from MarketBeat.com, DocuSign currently has an average rating of "Hold" and an average target price of $92.46.

DocuSign Price Performance

NASDAQ DOCU traded up $1.14 during trading on Tuesday, reaching $82.81. The company's stock had a trading volume of 1,051,319 shares, compared to its average volume of 2,747,533. The firm has a fifty day moving average of $80.34 and a 200 day moving average of $83.68. DocuSign has a one year low of $48.70 and a one year high of $107.86. The stock has a market capitalization of $16.77 billion, a PE ratio of 17.07, a P/E/G ratio of 6.94 and a beta of 1.20.

DocuSign (NASDAQ:DOCU - Get Free Report) last posted its quarterly earnings data 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. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The company had revenue of $776.25 million for the quarter, compared to analysts' expectations of $760.94 million. During the same period in the prior year, the business earned $0.76 earnings per share. DocuSign's revenue for the quarter was up 9.0% compared to the same quarter last year. Research analysts expect that DocuSign will post 1.17 earnings per share for the current fiscal year.

Insider Buying and Selling at DocuSign

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 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Robert Chatwani sold 15,706 shares of the business's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $83.19, for a total transaction of $1,306,582.14. Following the transaction, the insider now directly owns 76,842 shares in the company, valued at approximately $6,392,485.98. The trade was a 16.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,851 shares of company stock worth $4,607,439. 1.66% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DocuSign

Several institutional investors and hedge funds have recently modified their holdings of the stock. Kestra Investment Management LLC bought a new position in DocuSign in the fourth quarter worth about $30,000. Golden State Wealth Management LLC grew its holdings in shares of DocuSign by 519.4% during the 1st quarter. Golden State Wealth Management LLC now owns 384 shares of the company's stock worth $31,000 after acquiring an additional 322 shares during the period. First Horizon Advisors Inc. raised its position in shares of DocuSign by 102.6% in the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock worth $36,000 after acquiring an additional 201 shares in the last quarter. Modus Advisors LLC purchased a new position in shares of DocuSign in the 4th quarter valued at approximately $36,000. Finally, Wood Tarver Financial Group LLC bought a new stake in shares of DocuSign during the fourth quarter valued at approximately $37,000. 77.64% of the stock is owned by hedge funds and other 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.