Docusign (DOCU) Receives “Overweight” Rating from Piper Jaffray Companies

Piper Jaffray Companies reissued their overweight rating on shares of Docusign (NASDAQ:DOCU) in a report released on Friday, The Fly reports. The firm currently has a $50.00 price objective on the stock.

A number of other analysts have also recently commented on DOCU. JPMorgan Chase & Co. reaffirmed an overweight rating and set a $88.00 price target on shares of Docusign in a research report on Thursday, September 6th. JMP Securities upped their price target on shares of Docusign from $63.00 to $68.00 and gave the company a market outperform rating in a research report on Thursday, September 6th. Morgan Stanley upped their price target on shares of Docusign from $46.00 to $50.00 and gave the company an equal weight rating in a research report on Thursday, September 6th. Bank of America upped their price target on shares of Docusign from $63.00 to $64.00 and gave the company a neutral rating in a research report on Thursday, September 6th. Finally, Zacks Investment Research raised shares of Docusign from a hold rating to a buy rating and set a $64.00 price target on the stock in a research report on Monday, September 10th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Docusign presently has a consensus rating of Hold and a consensus price target of $59.60.

NASDAQ DOCU traded down $2.11 on Friday, reaching $39.66. The company had a trading volume of 4,742,188 shares, compared to its average volume of 1,618,441. Docusign has a fifty-two week low of $35.06 and a fifty-two week high of $68.35.

Docusign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, December 6th. The company reported ($0.30) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.07). The business had revenue of $178.39 million for the quarter, compared to analyst estimates of $173.55 million. The company’s revenue was up 36.6% on a year-over-year basis. On average, sell-side analysts anticipate that Docusign will post -2.46 EPS for the current fiscal year.

In other Docusign news, Director Peter Solvik sold 1,304,348 shares of the company’s stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of $55.00, for a total transaction of $71,739,140.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Several hedge funds have recently added to or reduced their stakes in the company. Marshall Wace North America L.P. boosted its position in shares of Docusign by 142.0% during the 3rd quarter. Marshall Wace North America L.P. now owns 42,183 shares of the company’s stock worth $2,218,000 after purchasing an additional 24,751 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of Docusign by 9.0% during the 3rd quarter. Clearbridge Investments LLC now owns 318,950 shares of the company’s stock worth $16,767,000 after purchasing an additional 26,350 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Docusign by 3.7% during the 3rd quarter. Vanguard Group Inc. now owns 1,922,947 shares of the company’s stock worth $101,089,000 after purchasing an additional 69,428 shares in the last quarter. Morgan Stanley boosted its position in shares of Docusign by 539.1% during the 3rd quarter. Morgan Stanley now owns 1,148,284 shares of the company’s stock worth $60,366,000 after purchasing an additional 968,599 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Docusign by 64.1% during the 3rd quarter. Legal & General Group Plc now owns 65,008 shares of the company’s stock worth $3,416,000 after purchasing an additional 25,384 shares in the last quarter. 39.06% of the stock is currently owned by institutional investors.

About Docusign

DocuSign, Inc provides cloud based transaction products and services in the United States. The company offers e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. It serves large enterprises, sole proprietorships, small- to medium-sized businesses, professionals, and individuals.

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Analyst Recommendations for Docusign (NASDAQ:DOCU)

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