Docusign (NASDAQ:DOCU – Get Free Report) had its target price decreased by Wedbush from $60.00 to $58.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Wedbush’s price target suggests a potential upside of 22.43% from the stock’s current price.
Several other equities research analysts have also recently commented on DOCU. Jefferies Financial Group reiterated a “hold” rating on shares of Docusign in a research report on Friday. Bank of America began coverage on shares of Docusign in a report on Tuesday, March 31st. They issued an “underperform” rating and a $52.00 price objective on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Docusign from $78.00 to $65.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 18th. HSBC set a $53.00 target price on shares of Docusign in a report on Friday, February 13th. Finally, Robert W. Baird cut their price target on Docusign from $75.00 to $55.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 18th. Three research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $59.27.
Check Out Our Latest Report on DOCU
Docusign Stock Down 7.0%
Docusign (NASDAQ:DOCU – Get Free Report) last announced its quarterly earnings data on Thursday, June 4th. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. The firm had revenue of $830.24 million during the quarter, compared to analyst estimates of $824.71 million. Docusign had a return on equity of 16.86% and a net margin of 9.60%.The company’s revenue was up 8.7% on a year-over-year basis. During the same period last year, the company earned $0.90 earnings per share. Analysts anticipate that Docusign will post 1.76 EPS for the current year.
Docusign announced that its board has initiated a share repurchase program on Tuesday, March 17th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to repurchase up to 21% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.
Insider Transactions at Docusign
In other news, CEO Allan C. Thygesen sold 26,250 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $47.78, for a total transaction of $1,254,225.00. Following the completion of the sale, the chief executive officer owned 152,237 shares of the company’s stock, valued at $7,273,883.86. This represents a 14.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Chatwani sold 16,696 shares of the firm’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $48.10, for a total transaction of $803,077.60. Following the sale, the insider owned 72,458 shares in the company, valued at approximately $3,485,229.80. The trade was a 18.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 65,126 shares of company stock valued at $3,107,875. 0.59% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Docusign
A number of institutional investors and hedge funds have recently added to or reduced their stakes in DOCU. EverSource Wealth Advisors LLC raised its holdings in Docusign by 15.1% in the third quarter. EverSource Wealth Advisors LLC now owns 1,229 shares of the company’s stock worth $89,000 after purchasing an additional 161 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of Docusign by 8.2% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,169 shares of the company’s stock worth $166,000 after buying an additional 165 shares during the period. Centaurus Financial Inc. grew its position in shares of Docusign by 3.4% in the 3rd quarter. Centaurus Financial Inc. now owns 5,582 shares of the company’s stock worth $402,000 after buying an additional 184 shares during the period. Clearstead Advisors LLC increased its stake in shares of Docusign by 12.1% in the 3rd quarter. Clearstead Advisors LLC now owns 1,872 shares of the company’s stock worth $135,000 after acquiring an additional 202 shares in the last quarter. Finally, Tred Avon Family Wealth LLC increased its stake in shares of Docusign by 3.6% in the 1st quarter. Tred Avon Family Wealth LLC now owns 6,176 shares of the company’s stock worth $293,000 after acquiring an additional 215 shares in the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.
More Docusign News
Here are the key news stories impacting Docusign this week:
- Positive Sentiment: DocuSign reported first-quarter EPS of $1.09, ahead of the $1.00 consensus, while revenue of $830.2 million also beat estimates and rose 8.7% year over year. DocuSign earnings report and conference call
- Positive Sentiment: The company nudged full-year revenue guidance higher to about $3.49 billion-$3.50 billion and highlighted growing demand for its AI-native Intelligent Agreement Management platform, which could support longer-term growth. WSJ revenue outlook article
- Positive Sentiment: Management also pointed to new AI-related product momentum, including ChatGPT and Codex integrations, plus record buybacks, which may help investor sentiment around capital returns and product innovation. DocuSign valuation check and AI agreement management launch
- Neutral Sentiment: BTIG Research lowered its price target on DocuSign to $60 from $70, but kept a Buy rating, suggesting optimism remains even after trimming near-term valuation expectations. BTIG price target update
- Neutral Sentiment: Needham reaffirmed its Hold rating, signaling that analysts see the quarter as solid but not yet enough to justify a more bullish stance. Needham rating reaffirmation
- Negative Sentiment: Despite the beat-and-raise quarter, shares have been under pressure because guidance did not significantly clear Wall Street expectations, and investors appeared disappointed by the lack of upside surprise in the outlook. DocuSign beats estimates but shares slip on muted guidance
About Docusign
DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.
DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.
Read More
- Five stocks we like better than Docusign
- Five Below Down 12% Post Earnings—Is the Selloff Overdone?
- The Market Has Ollie’s Bargain Outlet Completely Wrong
- Macy’s Delivers Strong Q1, Raises Outlook, but Wall Street Remains Cautious
- NVIDIA Sends a Message With RTX Spark—This Is What It Says
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.
