Key Points
- Director James Beer sold 450 DocuSign shares for approximately $28,809 at an average price of $64.02. The sale was made under a pre-arranged Rule 10b5-1 plan and reduced his holdings by 2.99%, leaving him with 14,586 shares.
- DocuSign recently exceeded quarterly expectations, reporting $1.09 in adjusted earnings per share versus the $0.99 consensus and revenue of $830.24 million. Revenue increased 8.7% year over year, while the stock was trading near $64.
- Analysts maintain a consensus “Hold” rating with an average price target of $60.27, reflecting limited upside from the trading price despite expectations for continued earnings growth and investor focus on annual recurring revenue guidance.
Docusign Inc. (NASDAQ:DOCU - Get Free Report) Director James Beer sold 450 shares of the stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $64.02, for a total transaction of $28,809.00. Following the transaction, the director directly owned 14,586 shares of the company's stock, valued at $933,795.72. This represents a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Docusign Trading Up 0.3%
Shares of DOCU opened at $64.00 on Friday. The stock's 50 day moving average is $53.44 and its two-hundred day moving average is $49.15. Docusign Inc. has a twelve month low of $40.16 and a twelve month high of $86.65. The firm has a market capitalization of $12.22 billion, a PE ratio of 41.56, a P/E/G ratio of 1.85 and a beta of 0.87.
Docusign (NASDAQ:DOCU - Get Free Report) last announced its quarterly earnings data on Thursday, June 4th. The company reported $1.09 earnings per share for the quarter, topping analysts' consensus estimates of $0.99 by $0.10. The firm had revenue of $830.24 million for the quarter, compared to analyst estimates of $824.71 million. Docusign had a return on equity of 17.48% and a net margin of 9.59%.Docusign's quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.90 earnings per share. On average, sell-side analysts predict that Docusign Inc. will post 2.06 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on DOCU shares. Weiss Ratings upgraded Docusign from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday. UBS Group set a $60.00 price objective on Docusign in a report on Friday, June 5th. Wall Street Zen downgraded Docusign from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 2nd. Wedbush lowered their target price on Docusign from $60.00 to $58.00 and set a "neutral" rating on the stock in a report on Friday, June 5th. Finally, Jefferies Financial Group upped their target price on Docusign from $45.00 to $50.00 and gave the company a "hold" rating in a report on Friday, June 5th. Four 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 company. Based on data from MarketBeat, Docusign has a consensus rating of "Hold" and a consensus target price of $60.27.
View Our Latest Analysis on Docusign
Docusign News Summary
Here are the key news stories impacting Docusign this week:
- Positive Sentiment: Analysts at Zacks said DocuSign’s upcoming earnings report could benefit from factors supporting a potential earnings beat. The articles encourage investors to monitor earnings expectations ahead of the scheduled quarterly announcement. DocuSign Earnings Expected to Grow
- Positive Sentiment: Recent trading strength across several software stocks, including DocuSign, provided a favorable sector backdrop and helped support investor sentiment toward DOCU. Software Stocks Trade Up
- Neutral Sentiment: DocuSign’s ARR guidance is expected to receive increased attention from Bank of America. Investors will likely scrutinize recurring-revenue growth and management’s outlook because ARR is a key indicator of future subscription performance. DocuSign ARR Guidance
- Neutral Sentiment: Comparisons with Autodesk (NASDAQ: ADSK) frame DocuSign as a potential value opportunity within internet software, but the analysis does not represent a new company catalyst. DOCU Versus ADSK
- Negative Sentiment: Director James A. Beer sold 450 shares worth approximately $28,809. The transaction reduced his holdings by 2.99%, but it was made under a pre-arranged Rule 10b5-1 trading plan and represents only a small portion of his remaining stake, limiting its significance as a bearish signal. DocuSign Director Stock Sale Filing
Hedge Funds Weigh In On Docusign
Hedge funds have recently bought and sold shares of the stock. Modus Advisors LLC purchased a new stake in shares of Docusign in the fourth quarter valued at $27,000. Torren Management LLC purchased a new stake in Docusign during the 4th quarter worth about $28,000. Cary Street Partners Investment Advisory LLC increased its position in Docusign by 309.5% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 561 shares of the company's stock worth $38,000 after purchasing an additional 424 shares in the last quarter. Basepoint Wealth LLC acquired a new position in Docusign in the 4th quarter valued at about $39,000. Finally, Harbour Investments Inc. lifted its holdings in Docusign by 56.6% in the 4th quarter. Harbour Investments Inc. now owns 797 shares of the company's stock valued at $55,000 after purchasing an additional 288 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company's stock.
Docusign Company Profile
(
Get Free Report)
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.
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