Docusign (DOCU) Posts Quarterly Earnings Results, Misses Estimates By $0.07 EPS

Docusign (NASDAQ:DOCU) released its quarterly earnings data on Thursday. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.07), Morningstar.com reports. The firm had revenue of $178.39 million during the quarter, compared to the consensus estimate of $173.55 million. Docusign’s quarterly revenue was up 36.6% on a year-over-year basis. Docusign updated its Q4 2019 guidance to EPS and its FY 2019 guidance to EPS.

Shares of DOCU stock traded down $0.96 during trading hours on Friday, hitting $40.81. 731,625 shares of the company were exchanged, compared to its average volume of 1,572,385. Docusign has a fifty-two week low of $35.06 and a fifty-two week high of $68.35.

A number of analysts have weighed in on DOCU shares. JPMorgan Chase & Co. reissued an “overweight” rating and set a $88.00 target price on shares of Docusign in a research report on Thursday, September 6th. JMP Securities raised their price objective on shares of Docusign from $63.00 to $68.00 and gave the stock a “market outperform” rating in a research report on Thursday, September 6th. Morgan Stanley raised their price objective on shares of Docusign from $46.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 6th. Bank of America raised their price objective on shares of Docusign from $63.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, September 6th. Finally, Zacks Investment Research raised shares of Docusign from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research report on Monday, September 10th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $59.60.

In related news, Director Peter Solvik sold 1,304,348 shares of the stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $55.00, for a total value of $71,739,140.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Institutional investors and hedge funds have recently modified their holdings of the stock. Opera Trading Capital bought a new position in shares of Docusign in the 3rd quarter worth $101,000. Bank of Montreal Can bought a new position in shares of Docusign in the 2nd quarter worth $145,000. Valeo Financial Advisors LLC lifted its holdings in shares of Docusign by 914.5% in the 3rd quarter. Valeo Financial Advisors LLC now owns 2,790 shares of the company’s stock worth $117,000 after purchasing an additional 2,515 shares in the last quarter. BKS Advisors LLC bought a new position in shares of Docusign in the 3rd quarter worth $236,000. Finally, Keybank National Association OH bought a new position in shares of Docusign in the 2nd quarter worth $245,000. Institutional investors own 39.06% of the company’s stock.

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About Docusign

DocuSign, Inc provides cloud based transaction products and services in the United States. The company offers e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. It serves large enterprises, sole proprietorships, small- to medium-sized businesses, professionals, and individuals.

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