DocuSign (NASDAQ:DOCU – Get Rating) issued its quarterly earnings results on Thursday. The company reported $0.48 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.48, Briefing.com reports. DocuSign had a negative net margin of 5.72% and a negative return on equity of 9.12%. The firm had revenue of $580.83 million for the quarter, compared to the consensus estimate of $561.60 million. During the same quarter in the previous year, the company earned ($0.08) EPS. The company’s revenue for the quarter was up 34.8% on a year-over-year basis.
DOCU stock traded down $20.74 during trading on Friday, reaching $73.14. The stock had a trading volume of 1,219,266 shares, compared to its average volume of 4,568,326. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 3.00. The company has a market capitalization of $14.47 billion, a price-to-earnings ratio of -125.76, a P/E/G ratio of 9.90 and a beta of 0.93. DocuSign has a one year low of $90.90 and a one year high of $314.76. The company’s 50 day moving average is $121.73 and its two-hundred day moving average is $202.20.
Several brokerages recently commented on DOCU. Piper Sandler cut their target price on DocuSign from $175.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday. UBS Group dropped their target price on shares of DocuSign from $170.00 to $110.00 and set a “neutral” rating on the stock in a research report on Monday. Zacks Investment Research cut shares of DocuSign from a “buy” rating to a “hold” rating and set a $128.00 price target for the company. in a report on Tuesday, February 15th. Robert W. Baird downgraded shares of DocuSign from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $140.00 to $82.00 in a research note on Friday. Finally, JMP Securities cut their price objective on shares of DocuSign from $307.00 to $180.00 and set a “market outperform” rating on the stock in a research report on Friday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $177.61.
In related news, Director Enrique T. Salem sold 37,764 shares of the stock in a transaction dated Tuesday, December 21st. The shares were sold at an average price of $148.48, for a total transaction of $5,607,198.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Scott V. Olrich sold 12,500 shares of DocuSign stock in a transaction dated Tuesday, December 14th. The stock was sold at an average price of $143.11, for a total transaction of $1,788,875.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 75,264 shares of company stock worth $10,680,574. Insiders own 3.87% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in DOCU. Morgan Stanley grew its stake in shares of DocuSign by 41.1% during the 2nd quarter. Morgan Stanley now owns 6,661,767 shares of the company’s stock worth $1,862,430,000 after acquiring an additional 1,941,923 shares during the period. Lombard Odier Asset Management USA Corp bought a new position in DocuSign during the fourth quarter worth about $255,000. Amalgamated Bank increased its stake in shares of DocuSign by 54.4% in the fourth quarter. Amalgamated Bank now owns 17,090 shares of the company’s stock worth $2,603,000 after purchasing an additional 6,020 shares in the last quarter. Penserra Capital Management LLC raised its position in shares of DocuSign by 25.7% in the fourth quarter. Penserra Capital Management LLC now owns 856 shares of the company’s stock valued at $130,000 after purchasing an additional 175 shares during the period. Finally, NEXT Financial Group Inc lifted its stake in shares of DocuSign by 46.4% during the 4th quarter. NEXT Financial Group Inc now owns 4,644 shares of the company’s stock valued at $707,000 after buying an additional 1,471 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.
About DocuSign (Get Rating)
DocuSign, Inc provides cloud-based electronic signature solutions. Its cloud based electronic signature platform helps companies and individuals securely collect information, automate data workflows and sign anything. The firm automates manual, paper-based processes allowing users to manage all aspects of documented business transactions including identity management, authentication, digital signature, forms and data collection, collaboration, workflow automation and storage.
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