Wedbush initiated coverage on shares of Docusign (NASDAQ:DOCU) in a research note issued to investors on Thursday morning, Marketbeat reports. The firm issued a neutral rating and a $45.00 target price on the stock.

DOCU has been the subject of several other research reports. Zacks Investment Research upgraded shares of Docusign from a sell rating to a hold rating in a research note on Tuesday, September 25th. Bank of America lifted their target price on shares of Docusign from $63.00 to $64.00 and gave the stock a neutral rating in a research note on Thursday, September 6th. Morgan Stanley lifted their target price on shares of Docusign from $46.00 to $50.00 and gave the stock an equal weight rating in a research note on Thursday, September 6th. JPMorgan Chase & Co. reiterated an overweight rating and issued a $88.00 target price on shares of Docusign in a research note on Thursday, September 6th. Finally, JMP Securities lifted their target price on shares of Docusign from $63.00 to $68.00 and gave the stock a market outperform rating in a research note on Thursday, September 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. The company has a consensus rating of Hold and an average target price of $60.60.

DOCU opened at $42.01 on Thursday. Docusign has a twelve month low of $37.00 and a twelve month high of $68.35.

Docusign (NASDAQ:DOCU) last posted its earnings results on Wednesday, September 5th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.02. The business had revenue of $167.04 million during the quarter, compared to analysts’ expectations of $158.70 million. The company’s revenue for the quarter was up 33.1% compared to the same quarter last year. As a group, research analysts forecast that Docusign will post -2.46 EPS for the current fiscal year.

In related news, Director Peter Solvik sold 1,304,348 shares of the business’s stock in a transaction that occurred 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 Securities & Exchange Commission, which is accessible through this link.

A number of large investors have recently modified their holdings of the stock. EastBay Asset Management LLC purchased a new position in Docusign during the third quarter valued at approximately $16,648,000. Cue Financial Group Inc. purchased a new position in Docusign during the third quarter valued at approximately $471,000. Sumitomo Mitsui Asset Management Company LTD grew its stake in Docusign by 209.7% during the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 259,998 shares of the company’s stock valued at $13,668,000 after acquiring an additional 176,048 shares in the last quarter. Bank of Montreal Can grew its stake in Docusign by 410.0% during the third quarter. Bank of Montreal Can now owns 13,969 shares of the company’s stock valued at $735,000 after acquiring an additional 11,230 shares in the last quarter. Finally, Atria Investments LLC purchased a new position in Docusign during the third quarter valued at approximately $282,000. 34.26% of the stock is owned by institutional investors.

Docusign Company Profile

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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