Zacks Investment Research upgraded shares of Docusign (NASDAQ:DOCU) from a sell rating to a hold rating in a report published on Friday morning.
According to Zacks, “DocuSign Inc. provides e-signature solutions. The Company offers services to mortgage, non-profit, government, real estate, insurance, technology and healthcare industries. Its product portfolio includes trial, single-user, multi-user, business pro, enterprise pro, standards-based signatures, ehanko, DocuSign transaction rooms for real estate, DocuSign payments and enotary. DocuSign Inc. is based in San Francisco, United States. “
A number of other research firms have also issued reports on DOCU. JMP Securities upped their price target on Docusign from $63.00 to $68.00 and gave the company a market outperform rating in a research report on Thursday, September 6th. JPMorgan Chase & Co. restated an overweight rating and issued a $88.00 price target on shares of Docusign in a research report on Thursday, September 6th. Morgan Stanley upped their price target on Docusign from $46.00 to $50.00 and gave the company an equal weight rating in a research report on Thursday, September 6th. Bank of America upped their price target on Docusign from $63.00 to $64.00 and gave the company a neutral rating in a research report on Thursday, September 6th. Finally, Wedbush initiated coverage on Docusign in a research report on Thursday, October 18th. They issued a neutral rating and a $45.00 price target for the company. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $60.60.
Docusign (NASDAQ:DOCU) last posted its quarterly earnings results on Wednesday, September 5th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The company had revenue of $167.04 million during the quarter, compared to analysts’ expectations of $158.70 million. The business’s revenue was up 33.1% compared to the same quarter last year. Equities research analysts predict that Docusign will post -2.46 EPS for the current fiscal year.
In related news, Director Peter Solvik sold 1,304,348 shares of the stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $55.00, for a total value of $71,739,140.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Institutional investors have recently modified their holdings of the stock. Brown Advisory Inc. acquired a new position in Docusign during the second quarter worth $2,213,000. Summit X LLC acquired a new position in Docusign during the second quarter worth $668,000. Frontier Capital Management Co. LLC acquired a new position in Docusign during the second quarter worth $6,957,000. Insight Holdings Group LLC acquired a new position in Docusign during the second quarter worth $84,918,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in Docusign during the second quarter worth $2,699,000. Institutional investors own 34.44% of the company’s stock.
Docusign Company Profile
DocuSign, Inc provides cloud based transaction products and services in the United States. The company offers e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. It serves large enterprises, sole proprietorships, small- to medium-sized businesses, professionals, and individuals.
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