DocuSign (NASDAQ:DOCU) Receives New Coverage from Analysts at Royal Bank of Canada

Stock analysts at Royal Bank of Canada began coverage on shares of DocuSign (NASDAQ:DOCU) in a report issued on Friday. The firm set an “outperform” rating on the stock.

Several other research firms have also recently weighed in on DOCU. Morgan Stanley boosted their price objective on shares of DocuSign from $290.00 to $295.00 and gave the stock an “overweight” rating in a research report on Friday, June 4th. Daiwa Capital Markets started coverage on shares of DocuSign in a research note on Monday, March 29th. They issued a “buy” rating and a $239.00 target price for the company. TheStreet raised shares of DocuSign from a “d” rating to a “c-” rating in a research note on Thursday, June 3rd. Zacks Investment Research cut shares of DocuSign from a “buy” rating to a “hold” rating in a research report on Thursday, April 8th. Finally, Wells Fargo & Company upped their target price on shares of DocuSign from $210.00 to $215.00 and gave the company an “equal weight” rating in a report on Friday, June 4th. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. DocuSign presently has a consensus rating of “Buy” and an average target price of $269.00.

Shares of NASDAQ:DOCU traded up $4.92 during trading on Friday, reaching $248.00. The stock had a trading volume of 40,770 shares, compared to its average volume of 3,171,724. DocuSign has a 52 week low of $144.29 and a 52 week high of $290.23. The firm has a 50-day simple moving average of $210.26. The company has a debt-to-equity ratio of 3.05, a current ratio of 1.01 and a quick ratio of 1.06. The company has a market cap of $48.32 billion, a PE ratio of -229.63 and a beta of 0.82.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Wednesday, June 2nd. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.16. DocuSign had a negative net margin of 12.54% and a negative return on equity of 26.53%. The firm had revenue of $469.08 million during the quarter, compared to analysts’ expectations of $437.66 million. During the same quarter in the previous year, the company posted $0.12 EPS. DocuSign’s revenue was up 57.9% on a year-over-year basis. Equities research analysts anticipate that DocuSign will post -0.32 earnings per share for the current fiscal year.

In related news, COO Scott V. Olrich sold 5,800 shares of the stock in a transaction dated Wednesday, April 7th. The shares were sold at an average price of $206.07, for a total transaction of $1,195,206.00. Following the sale, the chief operating officer now directly owns 209,871 shares of the company’s stock, valued at approximately $43,248,116.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Scott V. Olrich sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, June 8th. The shares were sold at an average price of $242.75, for a total transaction of $3,034,375.00. Following the sale, the chief operating officer now directly owns 219,430 shares in the company, valued at approximately $53,266,632.50. The disclosure for this sale can be found here. Insiders have sold a total of 63,287 shares of company stock valued at $13,953,658 over the last quarter. 3.87% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DOCU. NewSquare Capital LLC raised its position in shares of DocuSign by 71.4% during the fourth quarter. NewSquare Capital LLC now owns 120 shares of the company’s stock valued at $27,000 after buying an additional 50 shares during the last quarter. Associated Banc Corp boosted its stake in DocuSign by 202.3% during the fourth quarter. Associated Banc Corp now owns 130 shares of the company’s stock worth $29,000 after buying an additional 87 shares during the period. Institutional & Family Asset Management LLC purchased a new stake in shares of DocuSign during the first quarter valued at $27,000. Burleson & Company LLC bought a new stake in shares of DocuSign in the first quarter valued at about $31,000. Finally, Retirement Group LLC bought a new stake in shares of DocuSign in the fourth quarter valued at about $37,000. Institutional investors own 71.88% of the company’s stock.

About DocuSign

DocuSign, Inc provides cloud based software in the United States and internationally. The company provides e-signature solution that enables businesses to digitally prepare, sign, act on, and manage agreements. It also offers CLM, which automates workflows across the entire agreement process; Insights that use artificial intelligence (AI) to search and analyze agreements by legal concepts and clauses; Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce; Negotiate for Salesforce that supports for approvals, document comparisons, and version control; Analyzer, which helps customers understand what they're signing before they sign it; and CLM+ that provide AI-driven contract lifecycle management.

Featured Story: What is a Secondary Public Offering?

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.