Wells Fargo & Company Cuts DocuSign (NASDAQ:DOCU) Price Target to $65.00

DocuSign (NASDAQ:DOCU) had its price target cut by Wells Fargo & Company from $73.00 to $65.00 in a research note released on Tuesday,Benzinga reports. They currently have an underweight rating on the stock.

DOCU has been the subject of a number of other reports. UBS Group reduced their target price on shares of DocuSign from $90.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. HSBC raised shares of DocuSign from a “reduce” rating to a “hold” rating and set a $70.00 target price on the stock in a research note on Friday, April 11th. Bank of America dropped their price target on DocuSign from $112.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. Wedbush reiterated a “neutral” rating and set a $100.00 price objective on shares of DocuSign in a research report on Friday, March 14th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $90.00 target price on shares of DocuSign in a report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, DocuSign presently has a consensus rating of “Hold” and a consensus price target of $92.46.

DocuSign Stock Up 4.7 %

Shares of NASDAQ DOCU opened at $81.67 on Tuesday. The firm has a market cap of $16.54 billion, a price-to-earnings ratio of 16.84, a price-to-earnings-growth ratio of 6.94 and a beta of 1.20. The company’s 50-day simple moving average is $80.43 and its 200-day simple moving average is $83.47. DocuSign has a 52-week low of $48.70 and a 52-week high of $107.86.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.02. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The business had revenue of $776.25 million for the quarter, compared to the consensus estimate of $760.94 million. During the same quarter last year, the business posted $0.76 earnings per share. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. Equities research analysts anticipate that DocuSign will post 1.17 EPS for the current fiscal year.

Insider Transactions at DocuSign

In related news, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $86.90, for a total transaction of $695,200.00. Following the transaction, the chief financial officer now owns 77,851 shares of the company’s stock, valued at approximately $6,765,251.90. This represents a 9.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $87.41, for a total value of $46,676.94. Following the completion of the transaction, the director now directly owns 8,270 shares of the company’s stock, valued at approximately $722,880.70. This represents a 6.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,851 shares of company stock worth $4,607,439. 1.66% of the stock is currently owned by insiders.

Hedge Funds Weigh In On DocuSign

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bessemer Group Inc. raised its stake in shares of DocuSign by 27.5% in the first quarter. Bessemer Group Inc. now owns 602 shares of the company’s stock valued at $49,000 after acquiring an additional 130 shares in the last quarter. Citizens Financial Group Inc. RI boosted its stake in shares of DocuSign by 2.3% in the 4th quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company’s stock valued at $539,000 after buying an additional 133 shares during the period. Rakuten Securities Inc. grew its position in shares of DocuSign by 20.9% during the fourth quarter. Rakuten Securities Inc. now owns 797 shares of the company’s stock worth $72,000 after buying an additional 138 shares in the last quarter. Synergy Financial Group LTD increased its stake in shares of DocuSign by 3.4% during the fourth quarter. Synergy Financial Group LTD now owns 4,241 shares of the company’s stock worth $381,000 after buying an additional 140 shares during the period. Finally, M&T Bank Corp raised its holdings in DocuSign by 1.3% in the fourth quarter. M&T Bank Corp now owns 10,840 shares of the company’s stock valued at $975,000 after acquiring an additional 143 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

About DocuSign

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.