JPMorgan Chase & Co. Cuts Docusign (NASDAQ:DOCU) Price Target to $78.00

by · The Cerbat Gem

Docusign (NASDAQ:DOCU – Get Free Report) had its price target dropped by research analysts at JPMorgan Chase & Co. from $80.00 to $78.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 17.29% from the stock’s previous close.

Several other equities research analysts have also commented on DOCU. Wall Street Zen raised shares of Docusign from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Robert W. Baird cut their target price on shares of Docusign from $90.00 to $75.00 and set a “neutral” rating for the company in a research note on Friday. Evercore ISI set a $80.00 price target on shares of Docusign in a research report on Friday. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $95.00 price target on shares of Docusign in a research note on Friday. Finally, Wedbush lowered their price objective on Docusign from $85.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday. Four investment analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $87.79.

Get Our Latest Stock Report on Docusign

Docusign Price Performance

DOCU stock traded down $4.60 during mid-day trading on Friday, reaching $66.50. 4,111,010 shares of the company’s stock were exchanged, compared to its average volume of 2,716,897. Docusign has a 12-month low of $63.41 and a 12-month high of $107.86. The stock’s 50 day moving average is $69.80 and its 200 day moving average is $75.45. The company has a market cap of $13.37 billion, a price-to-earnings ratio of 50.06, a price-to-earnings-growth ratio of 3.51 and a beta of 0.98.

Docusign (NASDAQ:DOCU – Get Free Report) last announced its earnings results on Thursday, September 4th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.08. Docusign had a return on equity of 14.01% and a net margin of 9.08%.The business had revenue of $800.64 million during the quarter, compared to the consensus estimate of $780.35 million. During the same period in the prior year, the company posted $0.97 EPS. The business’s quarterly revenue was up 8.8% on a year-over-year basis. On average, research analysts forecast that Docusign will post 1.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Docusign

In other news, CFO Blake Jeffrey Grayson sold 9,509 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $83.10, for a total value of $790,197.90. Following the completion of the sale, the chief financial officer directly owned 112,160 shares in the company, valued at $9,320,496. This represents a 7.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert Chatwani sold 13,817 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $83.10, for a total value of $1,148,192.70. Following the completion of the sale, the insider directly owned 71,162 shares of the company’s stock, valued at approximately $5,913,562.20. This represents a 16.26% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 103,713 shares of company stock worth $7,791,047. 1.01% of the stock is owned by company insiders.

Institutional Investors Weigh In On Docusign

Hedge funds have recently modified their holdings of the company. Palogic Value Management L.P. increased its position in Docusign by 2.2% during the first quarter. Palogic Value Management L.P. now owns 5,438 shares of the company’s stock worth $443,000 after purchasing an additional 117 shares during the last quarter. Wealthspire Advisors LLC grew its stake in shares of Docusign by 1.9% in the 1st quarter. Wealthspire Advisors LLC now owns 6,579 shares of the company’s stock valued at $536,000 after buying an additional 122 shares during the period. Centaurus Financial Inc. increased its holdings in shares of Docusign by 2.6% during the 2nd quarter. Centaurus Financial Inc. now owns 5,398 shares of the company’s stock worth $420,000 after buying an additional 136 shares during the last quarter. Brooklyn Investment Group raised its position in shares of Docusign by 24.9% during the 1st quarter. Brooklyn Investment Group now owns 702 shares of the company’s stock valued at $57,000 after buying an additional 140 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of Docusign by 31.3% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 595 shares of the company’s stock valued at $46,000 after buying an additional 142 shares during the period. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Docusign Company Profile

(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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