Shares of Docusign Inc (NASDAQ:DOCU) gapped up prior to trading on Thursday . The stock had previously closed at $37.06, but opened at $38.33. Docusign shares last traded at $40.76, with a volume of 2087496 shares.
A number of research firms recently weighed in on DOCU. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $88.00 price objective on shares of Docusign in a research note on Thursday, September 6th. Wedbush began coverage on shares of Docusign in a research note on Thursday, October 18th. They issued a “neutral” rating and a $45.00 price objective for the company. Morgan Stanley upped their price objective on shares of Docusign from $46.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 6th. JMP Securities upped their price objective on shares of Docusign from $63.00 to $68.00 and gave the stock a “market outperform” rating in a research note on Thursday, September 6th. Finally, Zacks Investment Research lowered shares of Docusign from a “buy” rating to a “sell” rating in a research note on Tuesday, September 11th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $60.60.
Docusign (NASDAQ:DOCU) last released its quarterly earnings results on Wednesday, September 5th. The company reported $0.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.02. The firm had revenue of $167.04 million for the quarter, compared to analysts’ expectations of $158.70 million. Docusign’s revenue for the quarter was up 33.1% compared to the same quarter last year. As a group, analysts expect that Docusign Inc will post -2.46 earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Docusign by 3.7% during the third quarter. Vanguard Group Inc. now owns 1,922,947 shares of the company’s stock valued at $101,089,000 after buying an additional 69,428 shares during the last quarter. Morgan Stanley lifted its position in shares of Docusign by 539.1% during the third quarter. Morgan Stanley now owns 1,148,284 shares of the company’s stock valued at $60,366,000 after buying an additional 968,599 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Docusign by 64.1% during the third quarter. Legal & General Group Plc now owns 65,008 shares of the company’s stock valued at $3,416,000 after buying an additional 25,384 shares during the last quarter. Mutual Advisors LLC purchased a new stake in shares of Docusign during the third quarter valued at about $460,000. Finally, Putnam Investments LLC lifted its position in shares of Docusign by 58.4% during the third quarter. Putnam Investments LLC now owns 899,333 shares of the company’s stock valued at $47,278,000 after buying an additional 331,470 shares during the last quarter. 38.90% of the stock is owned by institutional investors and hedge funds.
About Docusign (NASDAQ:DOCU)
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.
Featured Article: How can investors find ex-dividend dates?
Receive News & Ratings for Docusign Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Docusign and related companies with MarketBeat.com's FREE daily email newsletter.