Docusign (NASDAQ:DOCU) Stock Rating Lowered by BidaskClub

Docusign (NASDAQ:DOCU) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Saturday, BidAskClub reports.

DOCU has been the topic of a number of other research reports. Oppenheimer lifted their price objective on shares of Docusign from $200.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, September 2nd. DA Davidson lifted their price objective on shares of Docusign from $161.00 to $270.00 in a research note on Friday, September 4th. JMP Securities lifted their price objective on shares of Docusign from $233.00 to $261.00 and gave the company an “outperform” rating in a research note on Friday, September 4th. Wells Fargo & Company initiated coverage on shares of Docusign in a research note on Tuesday, June 23rd. They issued an “equal weight” rating and a $160.00 price target for the company. Finally, Deutsche Bank lowered shares of Docusign from a “buy” rating to a “hold” rating and set a $225.00 price target for the company. in a research note on Friday, September 4th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $222.69.

DOCU opened at $194.86 on Friday. The firm has a market capitalization of $36.08 billion, a P/E ratio of -172.44 and a beta of 0.86. The firm’s 50 day moving average is $211.75 and its 200-day moving average is $150.69. Docusign has a 52-week low of $59.58 and a 52-week high of $290.23. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.31.

Docusign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, September 3rd. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.38. The company had revenue of $342.21 million for the quarter, compared to analyst estimates of $318.55 million. Docusign had a negative net margin of 17.74% and a negative return on equity of 28.28%. The business’s quarterly revenue was up 45.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.01 earnings per share. Equities analysts expect that Docusign will post -0.85 earnings per share for the current fiscal year.

In other news, COO Scott V. Olrich sold 5,800 shares of the business’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $203.70, for a total transaction of $1,181,460.00. Following the completion of the transaction, the chief operating officer now owns 405,403 shares of the company’s stock, valued at $82,580,591.10. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CRO Loren Alhadeff sold 8,547 shares of the business’s stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $192.81, for a total transaction of $1,647,947.07. Following the transaction, the executive now directly owns 74,920 shares of the company’s stock, valued at approximately $14,445,325.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 152,315 shares of company stock valued at $28,860,630. 5.06% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Smithfield Trust Co. boosted its holdings in shares of Docusign by 2.6% during the second quarter. Smithfield Trust Co. now owns 2,343 shares of the company’s stock valued at $404,000 after acquiring an additional 60 shares during the period. Adirondack Trust Co. boosted its holdings in shares of Docusign by 77.8% during the second quarter. Adirondack Trust Co. now owns 160 shares of the company’s stock valued at $35,000 after acquiring an additional 70 shares during the period. Toth Financial Advisory Corp lifted its holdings in Docusign by 222.2% in the second quarter. Toth Financial Advisory Corp now owns 145 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares during the period. Evoke Wealth LLC lifted its holdings in Docusign by 6.7% in the second quarter. Evoke Wealth LLC now owns 1,728 shares of the company’s stock worth $298,000 after purchasing an additional 108 shares during the period. Finally, Cetera Advisors LLC lifted its holdings in Docusign by 5.0% in the first quarter. Cetera Advisors LLC now owns 2,858 shares of the company’s stock worth $264,000 after purchasing an additional 137 shares during the period. 76.87% of the stock is owned by institutional investors.

Docusign Company Profile

DocuSign, Inc provides cloud based software in the United States. The company offers e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. The company sells its products through direct, partner-assisted, and Web-based sales. It serves enterprise businesses, commercial businesses, and small businesses, such as professionals, sole proprietorships and individuals.

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Analyst Recommendations for Docusign (NASDAQ:DOCU)

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