Zacks Research Weighs in on Docusign FY2029 Earnings
by Michael Walen · The Markets DailyDocusign Inc. (NASDAQ:DOCU – Free Report) – Research analysts at Zacks Research issued their FY2029 EPS estimates for shares of Docusign in a report issued on Tuesday, April 7th. Zacks Research analyst Team expects that the company will post earnings per share of $2.10 for the year. The consensus estimate for Docusign’s current full-year earnings is $1.17 per share.
A number of other equities research analysts also recently issued reports on DOCU. Royal Bank Of Canada reduced their price target on shares of Docusign from $70.00 to $55.00 and set a “sector perform” rating for the company in a research report on Wednesday, March 18th. Needham & Company LLC reiterated a “hold” rating on shares of Docusign in a research report on Tuesday, March 10th. Bank of America assumed coverage on shares of Docusign in a research report on Tuesday, March 31st. They set an “underperform” rating and a $52.00 price target for the company. Weiss Ratings restated a “hold (c)” rating on shares of Docusign in a research report on Wednesday, January 21st. Finally, Citizens Jmp cut their price objective on Docusign from $124.00 to $86.00 and set a “market outperform” rating for the company in a research report on Wednesday, March 18th. Five research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $64.67.
Get Our Latest Stock Report on DOCU
Docusign Trading Down 3.5%
DOCU stock opened at $45.71 on Thursday. The firm has a 50 day moving average of $46.84 and a 200-day moving average of $60.92. Docusign has a 12-month low of $40.16 and a 12-month high of $94.67. The company has a market cap of $8.89 billion, a price-to-earnings ratio of 30.89, a PEG ratio of 1.88 and a beta of 0.99.
Docusign (NASDAQ:DOCU – Get Free Report) last posted its quarterly earnings results on Tuesday, March 17th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. Docusign had a net margin of 9.60% and a return on equity of 16.86%. The company had revenue of $836.86 million during the quarter, compared to the consensus estimate of $828.23 million. During the same period last year, the firm earned $0.86 EPS. The company’s revenue for the quarter was up 7.8% on a year-over-year basis.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the business. Rockefeller Capital Management L.P. raised its holdings in Docusign by 11.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 238,114 shares of the company’s stock valued at $16,287,000 after acquiring an additional 24,842 shares during the last quarter. Corient Private Wealth LLC grew its stake in shares of Docusign by 2.5% during the 4th quarter. Corient Private Wealth LLC now owns 29,608 shares of the company’s stock valued at $2,026,000 after buying an additional 732 shares during the period. Kera Capital Partners Inc. grew its stake in shares of Docusign by 347.8% during the 4th quarter. Kera Capital Partners Inc. now owns 16,556 shares of the company’s stock valued at $1,132,000 after buying an additional 12,859 shares during the period. Alberta Investment Management Corp grew its stake in shares of Docusign by 490.2% during the 4th quarter. Alberta Investment Management Corp now owns 72,000 shares of the company’s stock valued at $4,925,000 after buying an additional 59,800 shares during the period. Finally, Mercer Global Advisors Inc. ADV grew its stake in shares of Docusign by 32.9% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 65,594 shares of the company’s stock valued at $4,487,000 after buying an additional 16,250 shares during the period. 77.64% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other Docusign news, CEO Allan C. Thygesen sold 26,250 shares of the business’s stock in a transaction on Friday, January 9th. The stock was sold at an average price of $69.60, for a total value of $1,827,000.00. Following the completion of the transaction, the chief executive officer directly owned 142,261 shares in the company, valued at approximately $9,901,365.60. The trade was a 15.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Robert Chatwani sold 16,696 shares of the business’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $48.10, for a total value of $803,077.60. Following the completion of the transaction, the insider owned 72,458 shares of the company’s stock, valued at $3,485,229.80. This trade represents a 18.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 97,423 shares of company stock worth $5,359,699. 1.01% of the stock is owned by corporate insiders.
Docusign announced that its Board of Directors has initiated a stock buyback plan on Tuesday, March 17th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to purchase up to 21% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
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.