DocuSign (NASDAQ:DOCU) Rating Increased to Hold at HSBC

HSBC upgraded shares of DocuSign (NASDAQ:DOCU) from a reduce rating to a hold rating in a research note released on Friday, Marketbeat.com reports. HSBC currently has $70.00 price objective on the stock.

A number of other research analysts have also issued reports on DOCU. JPMorgan Chase & Co. upgraded shares of DocuSign from an “underweight” rating to a “neutral” rating and raised their target price for the company from $70.00 to $75.00 in a research note on Monday, March 10th. Robert W. Baird set a $93.00 price target on DocuSign in a research report on Friday, March 14th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research report on Friday, March 14th. Jefferies Financial Group decreased their target price on DocuSign from $115.00 to $105.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Finally, Citigroup upped their price target on DocuSign from $113.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. According to MarketBeat, DocuSign currently has a consensus rating of “Hold” and an average price target of $93.85.

DocuSign Price Performance

DocuSign stock opened at $74.35 on Friday. DocuSign has a one year low of $48.70 and a one year high of $107.86. The company’s fifty day moving average price is $82.95 and its two-hundred day moving average price is $82.76. The company has a market capitalization of $15.06 billion, a price-to-earnings ratio of 15.33, a PEG ratio of 6.94 and a beta of 1.20.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings data on Thursday, March 13th. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. The business had revenue of $776.25 million for the quarter, compared to analyst estimates of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.76 EPS. As a group, sell-side analysts anticipate that DocuSign will post 1.17 earnings per share for the current year.

Insider Activity at DocuSign

In other news, insider James P. Shaughnessy sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $81.31, for a total value of $609,825.00. Following the transaction, the insider now directly owns 45,875 shares of the company’s stock, valued at $3,730,096.25. The trade was a 14.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $86.90, for a total value of $695,200.00. Following the sale, the chief financial officer now directly owns 77,851 shares of the company’s stock, valued at $6,765,251.90. This represents a 9.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,851 shares of company stock valued at $3,998,719 in the last 90 days. 1.66% of the stock is owned by corporate insiders.

Institutional Trading of DocuSign

Large investors have recently made changes to their positions in the business. FMR LLC lifted its position in DocuSign by 178.2% during the 4th quarter. FMR LLC now owns 6,101,024 shares of the company’s stock worth $548,726,000 after buying an additional 3,908,139 shares in the last quarter. Invesco Ltd. lifted its position in shares of DocuSign by 283.9% during the fourth quarter. Invesco Ltd. now owns 3,447,275 shares of the company’s stock worth $310,048,000 after purchasing an additional 2,549,310 shares in the last quarter. Norges Bank bought a new stake in shares of DocuSign during the fourth quarter valued at approximately $223,196,000. Arrowstreet Capital Limited Partnership raised its position in DocuSign by 201.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,158,311 shares of the company’s stock worth $194,118,000 after purchasing an additional 1,442,639 shares during the last quarter. Finally, Jericho Capital Asset Management L.P. lifted its holdings in DocuSign by 34.0% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 4,754,753 shares of the company’s stock worth $427,642,000 after buying an additional 1,205,500 shares in the last quarter. 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.