Docusign (NASDAQ:DOCU) Issues Quarterly Earnings Results

by · The Markets Daily

Docusign (NASDAQ:DOCU – Get Free Report) announced its quarterly earnings results on Thursday. The company reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.13), FiscalAI reports. The firm had revenue of $818.35 million during the quarter, compared to analysts’ expectations of $807.20 million. Docusign had a net margin of 9.08% and a return on equity of 14.01%.

Docusign Price Performance

DOCU stock traded up $0.48 on Thursday, reaching $71.10. The company’s stock had a trading volume of 5,679,786 shares, compared to its average volume of 2,698,032. Docusign has a 52 week low of $63.50 and a 52 week high of $107.86. The company has a market capitalization of $14.30 billion, a P/E ratio of 53.46, a price-to-earnings-growth ratio of 3.42 and a beta of 0.98. The firm has a fifty day moving average of $70.01 and a two-hundred day moving average of $75.48.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on DOCU shares. JPMorgan Chase & Co. raised their price objective on Docusign from $77.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday, September 5th. JMP Securities restated a “market outperform” rating and issued a $124.00 price target on shares of Docusign in a report on Friday, October 3rd. Argus reiterated a “hold” rating on shares of Docusign in a research note on Monday, September 8th. Needham & Company LLC reissued a “hold” rating on shares of Docusign in a research note on Friday, September 5th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Docusign in a report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. According to MarketBeat.com, Docusign presently has an average rating of “Hold” and a consensus price target of $94.14.

Check Out Our Latest Stock Analysis on Docusign

Insider Transactions at Docusign

In other Docusign news, CRO Paula Hansen sold 6,000 shares of the business’s stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $71.33, for a total transaction of $427,980.00. Following the sale, the executive owned 58,968 shares in the company, valued at approximately $4,206,187.44. The trade was a 9.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anna Marrs sold 365 shares of the stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $68.54, for a total value of $25,017.10. Following the completion of the sale, the director directly owned 11,163 shares of the company’s stock, valued at approximately $765,112.02. This represents a 3.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 103,713 shares of company stock valued at $7,791,047 over the last three months. 1.01% of the stock is owned by company insiders.

Institutional Investors Weigh In On Docusign

Institutional investors have recently added to or reduced their stakes in the company. Rakuten Securities Inc. grew its holdings in Docusign by 1,637.5% during the 2nd quarter. Rakuten Securities Inc. now owns 973 shares of the company’s stock worth $76,000 after acquiring an additional 917 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Docusign in the 2nd quarter valued at $125,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Docusign by 76.6% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,105 shares of the company’s stock worth $164,000 after buying an additional 913 shares during the period. Smartleaf Asset Management LLC lifted its stake in Docusign by 8.2% in the second quarter. Smartleaf Asset Management LLC now owns 2,169 shares of the company’s stock valued at $166,000 after buying an additional 165 shares during the period. Finally, Geneos Wealth Management Inc. grew its holdings in Docusign by 28.5% during the second quarter. Geneos Wealth Management Inc. now owns 2,415 shares of the company’s stock valued at $188,000 after purchasing an additional 536 shares during the period. 77.64% of the stock is owned by institutional investors and hedge funds.

About Docusign

(Get Free Report)

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.

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