FBN Securities Begins Coverage on Docusign (NASDAQ:DOCU)

FBN Securities initiated coverage on shares of Docusign (NASDAQ:DOCU) in a report issued on Tuesday, BenzingaRatingsTable reports. The firm issued an outperform rating and a $60.00 target price on the stock.

DOCU has been the subject of a number of other research reports. William Blair reaffirmed an outperform rating on shares of Vail Resorts in a research note on Friday, June 7th. Wedbush set a $17.00 target price on shares of Zumiez and gave the company a sell rating in a research note on Friday, June 7th. ValuEngine raised shares of Zogenix from a buy rating to a strong-buy rating in a research note on Thursday, June 27th. Finally, Piper Jaffray Companies decreased their target price on shares of Zafgen from $18.00 to $6.00 and set a hold rating for the company in a research note on Monday, March 11th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $61.36.

Docusign stock opened at $53.80 on Tuesday. The business has a 50 day moving average price of $51.95. Docusign has a 52 week low of $35.06 and a 52 week high of $68.35. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 1.00. The firm has a market cap of $8.92 billion, a price-to-earnings ratio of -18.55 and a beta of 1.30.

Docusign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, June 6th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.30. Docusign had a negative net margin of 26.54% and a negative return on equity of 22.27%. The firm had revenue of $213.96 million during the quarter, compared to analyst estimates of $208.15 million. During the same quarter last year, the business posted $0.01 EPS. The company’s revenue was up 37.3% on a year-over-year basis. Equities analysts expect that Docusign will post -0.99 earnings per share for the current year.

In related news, insider Kirsten O. Wolberg sold 7,877 shares of Docusign stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $50.93, for a total value of $401,175.61. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Peter Solvik sold 541,532 shares of Docusign stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $51.52, for a total transaction of $27,899,728.64. The disclosure for this sale can be found here. Insiders sold a total of 600,988 shares of company stock worth $31,067,181 in the last quarter. Insiders own 13.60% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in DOCU. Sonora Investment Management LLC bought a new position in Docusign in the 1st quarter worth $31,000. Clean Yield Group bought a new position in shares of Docusign during the 1st quarter worth about $31,000. Legacy Advisors LLC bought a new position in shares of Docusign during the 1st quarter worth about $38,000. Rehmann Capital Advisory Group increased its holdings in shares of Docusign by 226.1% during the 1st quarter. Rehmann Capital Advisory Group now owns 874 shares of the company’s stock worth $45,000 after purchasing an additional 606 shares during the period. Finally, Shine Investment Advisory Services Inc. bought a new position in shares of Docusign during the 1st quarter worth about $66,000. Hedge funds and other institutional investors own 61.15% of the company’s stock.

Docusign Company Profile

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.

Further Reading: Beta

Analyst Recommendations for Docusign (NASDAQ:DOCU)

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.