DocuSign (NASDAQ:DOCU) Price Target Cut to $85.00 by Analysts at Robert W. Baird

Robert W. Baird has reduced the target price for DocuSign (NASDAQ:DOCU) from $93.00 to $85.00, maintaining a "neutral" rating. This adjustment suggests a potential upside of 13.21% from the current price. Other brokerages have also lowered their target prices, with an average consensus target of $90.62. DocuSign's stock recently traded down to $75.08, with a market cap of $15.20 billion and a P/E ratio of 15.47. The company reported earnings of $0.90 per share, exceeding estimates, and revenue increased by 7.6% year-over-year.

DocuSign (NASDAQ:DOCU - Get Free Report) had its target price reduced by Robert W. Baird from $93.00 to $85.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Robert W. Baird's target price points to a potential upside of 13.21% from the stock's current price.

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Several other brokerages also recently commented on DOCU. Bank of America dropped their target price on DocuSign from $112.00 to $98.00 and set a "neutral" rating on the stock in a report on Friday, March 14th. Morgan Stanley dropped their price objective on shares of DocuSign from $97.00 to $92.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. JMP Securities reissued a "market outperform" rating and set a $124.00 target price on shares of DocuSign in a research report on Tuesday. Jefferies Financial Group decreased their target price on shares of DocuSign from $115.00 to $105.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Finally, JPMorgan Chase & Co. raised shares of DocuSign from an "underweight" rating to a "neutral" rating and lifted their price target for the stock from $70.00 to $75.00 in a research note on Monday, March 10th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $90.62.

View Our Latest Research Report on DOCU

DocuSign Trading Down 19.2%

DocuSign’s New AI-Powered IAM Platform Revitalizes Turnaround

DOCU traded down $17.82 during trading on Friday, hitting $75.08. 9,300,642 shares of the company's stock were exchanged, compared to its average volume of 2,831,611. DocuSign has a 1 year low of $48.70 and a 1 year high of $107.86. The stock has a 50 day moving average price of $82.23 and a 200 day moving average price of $86.25. The firm has a market cap of $15.20 billion, a P/E ratio of 15.47, a price-to-earnings-growth ratio of 6.94 and a beta of 1.21.

DocuSign (NASDAQ:DOCU - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The company reported $0.90 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.09. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The firm had revenue of $763.65 million during the quarter, compared to analysts' expectations of $748.79 million. During the same period in the prior year, the company earned $0.82 EPS. The firm's revenue was up 7.6% on a year-over-year basis. Analysts forecast that DocuSign will post 1.17 earnings per share for the current fiscal year.

Insider Activity

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In related news, Director Teresa Briggs sold 534 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $87.41, for a total value of $46,676.94. Following the completion of the sale, the director now directly owns 8,270 shares of the company's stock, valued at $722,880.70. The trade was a 6.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Robert Chatwani sold 15,706 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $83.19, for a total value of $1,306,582.14. Following the sale, the insider now owns 76,842 shares in the company, valued at $6,392,485.98. The trade was a 16.97% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,851 shares of company stock worth $3,912,239. 1.01% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DocuSign

Institutional investors and hedge funds have recently made changes to their positions in the company. Kestra Investment Management LLC acquired a new position in DocuSign in the fourth quarter worth $30,000. Hemington Wealth Management lifted its position in shares of DocuSign by 318.1% in the 1st quarter. Hemington Wealth Management now owns 347 shares of the company's stock worth $28,000 after buying an additional 264 shares during the last quarter. Banque Transatlantique SA acquired a new position in shares of DocuSign in the 1st quarter valued at about $26,000. Golden State Wealth Management LLC grew its position in shares of DocuSign by 519.4% during the 1st quarter. Golden State Wealth Management LLC now owns 384 shares of the company's stock valued at $31,000 after buying an additional 322 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its stake in DocuSign by 102.6% during the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock worth $36,000 after acquiring an additional 201 shares during the period. 77.64% of the stock is owned by institutional investors and hedge funds.

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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