Brokerages Set Docusign Inc. (NASDAQ:DOCU) Target Price at $60.27

Shares of Docusign Inc. (NASDAQ:DOCU) have earned an average recommendation of “Hold” from the nineteen brokerages that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, fifteen have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $60.2667.

A number of brokerages have recently issued reports on DOCU. Weiss Ratings raised shares of Docusign from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 14th. Needham & Company LLC restated a “hold” rating on shares of Docusign in a research note on Friday, June 5th. UBS Group set a $60.00 price target on shares of Docusign in a report on Friday, June 5th. BTIG Research cut their price target on shares of Docusign from $70.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, June 5th. Finally, Citigroup increased their price objective on Docusign from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Friday, June 5th.

Insider Activity at Docusign

In other Docusign news, CFO Blake Jeffrey Grayson sold 15,000 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $45.55, for a total value of $683,250.00. Following the completion of the sale, the chief financial officer directly owned 141,429 shares in the company, valued at approximately $6,442,090.95. This trade represents a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Allan C. Thygesen sold 26,250 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $46.02, for a total value of $1,208,025.00. Following the completion of the sale, the chief executive officer directly owned 159,038 shares of the company’s stock, valued at approximately $7,318,928.76. This represents a 14.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 76,695 shares of company stock worth $3,476,002 over the last ninety days. Corporate insiders own 0.59% of the company’s stock.

Institutional Trading of Docusign

Large investors have recently bought and sold shares of the stock. NewEdge Advisors LLC increased its stake in Docusign by 36.4% during the 1st quarter. NewEdge Advisors LLC now owns 9,202 shares of the company’s stock valued at $749,000 after purchasing an additional 2,457 shares in the last quarter. Guggenheim Capital LLC raised its holdings in shares of Docusign by 6.7% in the second quarter. Guggenheim Capital LLC now owns 11,543 shares of the company’s stock worth $899,000 after buying an additional 729 shares during the last quarter. State Street Corp lifted its stake in shares of Docusign by 3.0% during the second quarter. State Street Corp now owns 8,074,976 shares of the company’s stock worth $628,960,000 after buying an additional 236,494 shares during the period. Sei Investments Co. lifted its stake in shares of Docusign by 60.7% during the second quarter. Sei Investments Co. now owns 40,386 shares of the company’s stock worth $3,146,000 after buying an additional 15,247 shares during the period. Finally, Treasurer of the State of North Carolina grew its holdings in shares of Docusign by 51.0% during the second quarter. Treasurer of the State of North Carolina now owns 189,178 shares of the company’s stock valued at $14,735,000 after buying an additional 63,911 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Docusign Price Performance

Shares of DOCU stock opened at $59.64 on Friday. Docusign has a 1-year low of $40.16 and a 1-year high of $86.65. The stock’s 50-day moving average is $49.23 and its 200 day moving average is $48.26. The company has a market cap of $11.39 billion, a P/E ratio of 38.73, a PEG ratio of 1.78 and a beta of 0.87.

Docusign (NASDAQ:DOCU) last announced its earnings results on Thursday, June 4th. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.10. The business had revenue of $830.24 million during the quarter, compared to the consensus estimate of $824.71 million. Docusign had a net margin of 9.59% and a return on equity of 17.48%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 earnings per share. On average, analysts anticipate that Docusign will post 2.03 EPS for the current year.

About Docusign

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.