Docusign (NASDAQ:DOCU) Receives New Coverage from Analysts at Danske

Danske assumed coverage on shares of Docusign (NASDAQ:DOCU) in a research note released on Friday, Briefing.com Automated Import reports. The brokerage issued a buy rating and a $52.00 target price on the stock.

A number of other brokerages have also issued reports on DOCU. Zacks Investment Research lowered Docusign from a buy rating to a hold rating in a research note on Monday, July 29th. ValuEngine raised Docusign from a hold rating to a buy rating in a research note on Thursday, June 27th. Wedbush reissued a hold rating and set a $48.00 price target on shares of Docusign in a research note on Friday, June 7th. DA Davidson began coverage on Docusign in a research note on Thursday, August 15th. They set a buy rating and a $52.00 price target for the company. Finally, FBN Securities began coverage on Docusign in a research note on Tuesday, July 9th. They set an outperform rating and a $60.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $59.54.

Shares of DOCU stock opened at $44.54 on Friday. Docusign has a 52-week low of $35.06 and a 52-week 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 firm has a market capitalization of $7.67 billion, a P/E ratio of -15.36 and a beta of 1.31. The stock has a 50 day moving average price of $50.18 and a 200 day moving average price of $52.76.

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

In other Docusign news, COO Scott V. Olrich sold 10,000 shares of Docusign stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $54.85, for a total transaction of $548,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 590,988 shares of company stock valued at $30,533,281. 13.60% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Kayne Anderson Rudnick Investment Management LLC grew its stake in Docusign by 1.2% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,239,211 shares of the company’s stock worth $260,441,000 after buying an additional 61,822 shares during the last quarter. Tortoise Index Solutions LLC grew its stake in Docusign by 26.0% during the 2nd quarter. Tortoise Index Solutions LLC now owns 1,859 shares of the company’s stock worth $92,000 after buying an additional 384 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. grew its stake in Docusign by 3.8% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 401,161 shares of the company’s stock worth $20,265,000 after buying an additional 14,507 shares during the last quarter. Eaton Vance Management grew its stake in Docusign by 8.3% during the 2nd quarter. Eaton Vance Management now owns 873,373 shares of the company’s stock worth $43,415,000 after buying an additional 66,847 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. grew its stake in Docusign by 8.4% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 407,327 shares of the company’s stock worth $20,249,000 after buying an additional 31,703 shares during the last quarter. 61.49% of the stock is owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Docusign (NASDAQ:DOCU)

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