Morgan Stanley Raises Docusign (DOCU) Price Target to $52.00

Docusign (NASDAQ:DOCU) had its price objective increased by equities researchers at Morgan Stanley from $49.00 to $52.00 in a research note issued on Friday. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 31.11% from the stock’s previous close.

Several other analysts have also commented on the stock. Zacks Investment Research lowered shares of Docusign from a “hold” rating to a “sell” rating in a research report on Monday, October 1st. Bank of America lifted their target price on shares of Docusign from $63.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, September 6th. Wedbush started coverage on shares of Docusign in a report on Thursday, October 18th. They issued a “neutral” rating and a $45.00 target price for the company. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $88.00 target price on shares of Docusign in a report on Thursday, September 6th. Finally, JMP Securities lifted their target price on shares of Docusign from $63.00 to $68.00 and gave the company a “market outperform” rating in a report on Thursday, September 6th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $59.60.

DOCU stock opened at $39.66 on Friday. Docusign has a one year low of $35.06 and a one year high of $68.35.

Docusign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, December 6th. The company reported ($0.30) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.07). The firm had revenue of $178.39 million for the quarter, compared to analysts’ expectations of $173.55 million. The business’s revenue for the quarter was up 36.6% on a year-over-year basis. On average, sell-side analysts forecast that Docusign will post -2.46 earnings per share for the current year.

In other Docusign news, Director Peter Solvik sold 1,304,348 shares of the business’s stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of $55.00, for a total value of $71,739,140.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Large investors have recently bought and sold shares of the business. Brown Advisory Inc. acquired a new position in shares of Docusign during the second quarter worth $2,213,000. Summit X LLC acquired a new position in shares of Docusign during the second quarter worth $668,000. Frontier Capital Management Co. LLC acquired a new position in shares of Docusign during the second quarter worth $6,957,000. Insight Holdings Group LLC acquired a new position in shares of Docusign during the second quarter worth $84,918,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in shares of Docusign during the second quarter worth $2,699,000. Institutional investors and hedge funds own 39.06% of the company’s stock.

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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