JPMorgan Chase & Co. Issues Positive Forecast for DocuSign (NASDAQ:DOCU) Stock Price

DocuSign (NASDAQ:DOCU) had its price target increased by equities researchers at JPMorgan Chase & Co. from $50.00 to $70.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential downside of 12.01% from the company’s current price.

Other equities analysts also recently issued reports about the company. JMP Securities increased their target price on DocuSign from $84.00 to $108.00 and gave the stock a “market outperform” rating in a research report on Friday, November 22nd. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Jefferies Financial Group raised their price target on shares of DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday. Wells Fargo & Company boosted their price objective on shares of DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. Finally, Citigroup raised their target price on shares of DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $70.73.

DocuSign Trading Down 0.9 %

Shares of DocuSign stock traded down $0.71 during mid-day trading on Tuesday, hitting $79.55. 680,630 shares of the stock were exchanged, compared to its average volume of 2,859,988. The company has a 50-day simple moving average of $72.42 and a 200 day simple moving average of $61.22. The stock has a market capitalization of $16.15 billion, a price-to-earnings ratio of 16.78, a price-to-earnings-growth ratio of 8.25 and a beta of 0.92. DocuSign has a twelve month low of $44.34 and a twelve month high of $86.75.

DocuSign (NASDAQ:DOCU) last announced its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. The firm had revenue of $736.03 million for the quarter, compared to analyst estimates of $727.20 million. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. DocuSign’s revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.09 earnings per share. Equities research analysts forecast that DocuSign will post 1.03 earnings per share for the current fiscal year.

Insider Activity at DocuSign

In other news, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $56.56, for a total value of $30,203.04. Following the sale, the director now owns 7,202 shares in the company, valued at approximately $407,345.12. This represents a 6.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Allan C. Thygesen sold 7,764 shares of DocuSign stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $69.95, for a total value of $543,091.80. Following the completion of the transaction, the chief executive officer now owns 107,825 shares of the company’s stock, valued at $7,542,358.75. This trade represents a 6.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,833 shares of company stock valued at $3,816,297. Insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Thrivent Financial for Lutherans bought a new position in DocuSign in the second quarter worth about $115,795,000. Pacer Advisors Inc. increased its holdings in shares of DocuSign by 77.9% in the 2nd quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock worth $188,318,000 after acquiring an additional 1,541,816 shares during the period. KBC Group NV lifted its position in DocuSign by 209.8% in the 3rd quarter. KBC Group NV now owns 1,156,874 shares of the company’s stock valued at $71,830,000 after purchasing an additional 783,419 shares during the last quarter. Renaissance Technologies LLC boosted its stake in DocuSign by 18.3% during the 2nd quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock valued at $199,518,000 after purchasing an additional 576,414 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ grew its holdings in DocuSign by 151.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 865,872 shares of the company’s stock worth $46,324,000 after buying an additional 521,292 shares in the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

DocuSign Company Profile

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.