Equities research analysts at FBN Securities began coverage on shares of Docusign (NASDAQ:DOCU) in a note issued to investors on Tuesday, Marketbeat.com reports. The brokerage set an “outperform” rating and a $60.00 price target on the stock. FBN Securities’ target price would suggest a potential upside of 11.52% from the company’s previous close.

DOCU has been the topic of several other research reports. William Blair reaffirmed an “outperform” rating on shares of Vail Resorts in a report on Friday, June 7th. ValuEngine raised shares of Zogenix from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 27th. Piper Jaffray Companies decreased their price target on shares of Zafgen from $18.00 to $6.00 and set a “hold” rating on the stock in a report on Monday, March 11th. Finally, Wedbush set a $17.00 price target on shares of Zumiez and gave the stock a “sell” rating in a report on Friday, June 7th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $61.36.

Shares of Docusign stock traded up $2.45 during trading on Tuesday, hitting $53.80. The stock had a trading volume of 2,327,027 shares, compared to its average volume of 2,404,629. The stock has a market capitalization of $8.92 billion, a price-to-earnings ratio of -18.55 and a beta of 1.32. Docusign has a 12 month low of $35.06 and a 12 month high of $68.35. The company’s 50-day moving average price is $51.98. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.76 and a current ratio of 1.76.

Docusign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, June 6th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.30. The firm had revenue of $213.96 million for the quarter, compared to analysts’ expectations of $208.15 million. Docusign had a negative net margin of 26.54% and a negative return on equity of 22.27%. The business’s quarterly revenue was up 37.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.01 earnings per share. On average, sell-side analysts expect that Docusign will post -0.99 earnings per share for the current fiscal year.

In related news, CRO Loren Alhadeff sold 11,579 shares of the stock in a transaction on Wednesday, June 19th. The stock was sold at an average price of $53.12, for a total value of $615,076.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Scott V. Olrich sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $54.85, for a total transaction of $548,500.00. The disclosure for this sale can be found here. In the last three months, insiders sold 600,988 shares of company stock worth $31,067,181. 13.60% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sonora Investment Management LLC purchased a new stake in Docusign during the first quarter valued at about $31,000. Clean Yield Group purchased a new stake in Docusign during the first quarter valued at about $31,000. Legacy Advisors LLC purchased a new stake in Docusign during the first quarter valued at about $38,000. Rehmann Capital Advisory Group boosted its position in Docusign by 226.1% during the first quarter. Rehmann Capital Advisory Group now owns 874 shares of the company’s stock valued at $45,000 after buying an additional 606 shares during the period. Finally, Shine Investment Advisory Services Inc. purchased a new stake in Docusign during the first quarter valued at about $66,000. Institutional investors and hedge funds own 61.15% of the company’s stock.

Docusign Company Profile

DocuSign, Inc provides cloud based software in the United States. The company offers e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. The company sells its products through direct, partner-assisted, and Web-based sales. It serves enterprise businesses, commercial businesses, and small businesses, such as professionals, sole proprietorships and individuals.

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Analyst Recommendations for Docusign (NASDAQ:DOCU)

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