Docusign (NASDAQ:DOCU) PT Raised to $80.00 at Wedbush

Docusign (NASDAQ:DOCU) had its price objective upped by research analysts at Wedbush from $65.00 to $80.00 in a report issued on Wednesday, October 16th, MarketBeat.com reports. The brokerage presently has an “outperform” rating on the stock. Wedbush’s price target would indicate a potential upside of 19.89% from the stock’s current price.

Several other brokerages have also issued reports on DOCU. JPMorgan Chase & Co. lifted their price target on shares of Docusign from $88.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Royal Bank of Canada lifted their price target on shares of Docusign from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Morgan Stanley lifted their price target on shares of Docusign from $61.00 to $67.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Citigroup lifted their price target on shares of Docusign from $60.00 to $72.00 and gave the company a “buy” rating in a report on Friday, September 6th. Finally, Bank of America lifted their price target on shares of Docusign from $57.00 to $62.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $69.13.

Shares of DOCU stock traded up $1.32 during trading hours on Wednesday, reaching $66.73. 1,331,000 shares of the company were exchanged, compared to its average volume of 2,581,880. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.64 and a quick ratio of 1.64. Docusign has a fifty-two week low of $35.06 and a fifty-two week high of $69.89. The company has a market cap of $11.62 billion, a price-to-earnings ratio of -23.01 and a beta of 1.45. The stock’s fifty day moving average is $64.76 and its two-hundred day moving average is $55.14.

Docusign (NASDAQ:DOCU) last released its earnings results on Thursday, September 5th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.23) by $0.24. Docusign had a negative net margin of 28.20% and a negative return on equity of 26.70%. The firm had revenue of $235.61 million for the quarter, compared to analyst estimates of $220.81 million. During the same period last year, the firm earned $0.03 EPS. The business’s quarterly revenue was up 41.0% compared to the same quarter last year. On average, research analysts anticipate that Docusign will post -1.04 earnings per share for the current year.

In related news, COO Scott V. Olrich sold 2,000 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $59.50, for a total transaction of $119,000.00. Also, CRO Loren Alhadeff sold 24,000 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $55.64, for a total transaction of $1,335,360.00. Insiders sold a total of 66,698 shares of company stock worth $4,051,109 in the last 90 days. Corporate insiders own 13.60% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in DOCU. Price T Rowe Associates Inc. MD increased its stake in Docusign by 58.8% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 16,338,342 shares of the company’s stock valued at $812,179,000 after purchasing an additional 6,051,597 shares in the last quarter. BlackRock Inc. increased its stake in Docusign by 98.2% during the 2nd quarter. BlackRock Inc. now owns 5,122,761 shares of the company’s stock valued at $254,654,000 after purchasing an additional 2,537,764 shares in the last quarter. Scout Investments Inc. bought a new stake in Docusign during the 3rd quarter valued at $67,705,000. Morgan Stanley increased its stake in Docusign by 73.7% during the 2nd quarter. Morgan Stanley now owns 2,440,441 shares of the company’s stock valued at $121,314,000 after purchasing an additional 1,035,506 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in Docusign by 55.9% during the 3rd quarter. First Trust Advisors LP now owns 2,755,720 shares of the company’s stock valued at $170,634,000 after purchasing an additional 988,106 shares in the last quarter. Institutional investors own 69.57% of the company’s stock.

About Docusign

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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