DA Davidson Initiates Coverage on Docusign (NASDAQ:DOCU)

DA Davidson began coverage on shares of Docusign (NASDAQ:DOCU) in a research note released on Thursday, 24/7 WallStreet reports. The firm issued a buy rating and a $52.00 price objective on the stock.

DOCU has been the topic of several other reports. ValuEngine raised Docusign from a hold rating to a buy rating in a report on Thursday, June 27th. William Blair reaffirmed an outperform rating on shares of Docusign in a report on Friday, June 7th. FBN Securities assumed coverage on Docusign in a report on Tuesday, July 9th. They set an outperform rating and a $60.00 price objective on the stock. Wedbush reaffirmed a hold rating and set a $48.00 price objective on shares of Docusign in a report on Friday, June 7th. Finally, Zacks Investment Research cut Docusign from a buy rating to a hold rating in a report on Monday, July 29th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Docusign currently has an average rating of Buy and an average target price of $59.54.

DOCU stock opened at $44.81 on Thursday. Docusign has a 1-year low of $35.06 and a 1-year high of $68.35. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.76 and a current ratio of 1.76. The business has a 50 day simple moving average of $50.46 and a two-hundred day simple moving average of $52.88.

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

In related news, COO Scott V. Olrich sold 10,000 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $53.48, for a total transaction of $534,800.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Loren Alhadeff sold 11,579 shares of the stock in a transaction on Wednesday, June 19th. The shares were sold at an average price of $53.12, for a total value of $615,076.48. The disclosure for this sale can be found here. Insiders have sold a total of 590,988 shares of company stock worth $30,533,281 in the last 90 days. 13.60% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co NY raised its holdings in Docusign by 4.2% during the 1st quarter. Metropolitan Life Insurance Co NY now owns 5,896 shares of the company’s stock valued at $305,000 after buying an additional 237 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in Docusign by 6.5% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 4,258 shares of the company’s stock valued at $211,000 after buying an additional 260 shares during the period. Piedmont Investment Advisors Inc. raised its holdings in Docusign by 5.3% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 5,624 shares of the company’s stock valued at $292,000 after buying an additional 282 shares during the period. Tortoise Index Solutions LLC raised its holdings in Docusign by 26.0% during the 2nd quarter. Tortoise Index Solutions LLC now owns 1,859 shares of the company’s stock valued at $92,000 after buying an additional 384 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its holdings in Docusign by 12.8% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,384 shares of the company’s stock valued at $227,000 after buying an additional 498 shares during the period. Institutional investors own 61.49% of the company’s stock.

About Docusign

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.

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Analyst Recommendations for Docusign (NASDAQ:DOCU)

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