Morgan Stanley Issues Pessimistic Forecast for DocuSign (NASDAQ:DOCU) Stock Price

DocuSign (NASDAQ:DOCU) had its price objective decreased by Morgan Stanley from $97.00 to $92.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other analysts have also recently issued reports on DOCU. Jefferies Financial Group decreased their target price on DocuSign from $115.00 to $105.00 and set a “buy” rating for the company in a report on Monday, March 31st. HSBC raised shares of DocuSign from a “reduce” rating to a “hold” rating and set a $70.00 price objective for the company in a research report on Friday, April 11th. Robert W. Baird set a $93.00 target price on shares of DocuSign in a report on Friday, March 14th. JPMorgan Chase & Co. upgraded DocuSign from an “underweight” rating to a “neutral” rating and increased their price target for the company from $70.00 to $75.00 in a report on Monday, March 10th. Finally, Hsbc Global Res raised DocuSign from a “moderate sell” rating to a “hold” rating in a research report on Friday, April 11th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $93.46.

DocuSign Stock Performance

Shares of DOCU stock opened at $76.39 on Wednesday. The firm has a market capitalization of $15.47 billion, a price-to-earnings ratio of 15.75, a price-to-earnings-growth ratio of 6.94 and a beta of 1.20. The company has a 50 day moving average price of $81.91 and a 200 day moving average price of $82.91. DocuSign has a one year low of $48.70 and a one year high of $107.86.

DocuSign (NASDAQ:DOCU) last issued its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.02. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The business had revenue of $776.25 million for the quarter, compared to analyst estimates of $760.94 million. During the same period last year, the company posted $0.76 EPS. The business’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, equities analysts forecast that DocuSign will post 1.17 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $87.41, for a total transaction of $46,676.94. Following the completion of the transaction, the director now owns 8,270 shares of the company’s stock, valued at approximately $722,880.70. The trade was a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $76.09, for a total transaction of $608,720.00. Following the completion of the sale, the chief financial officer now directly owns 86,156 shares in the company, valued at approximately $6,555,610.04. This trade represents a 8.50 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,851 shares of company stock worth $4,607,439. Corporate insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of DOCU. Rhumbline Advisers boosted its position in shares of DocuSign by 118.8% during the fourth quarter. Rhumbline Advisers now owns 608,123 shares of the company’s stock worth $54,695,000 after buying an additional 330,136 shares during the period. KBC Group NV boosted its position in DocuSign by 32.7% during the 4th quarter. KBC Group NV now owns 1,535,107 shares of the company’s stock worth $138,067,000 after acquiring an additional 378,233 shares during the period. Jennison Associates LLC bought a new position in shares of DocuSign in the fourth quarter worth $12,897,000. Everence Capital Management Inc. bought a new position in shares of DocuSign in the fourth quarter worth $720,000. Finally, Principal Financial Group Inc. increased its holdings in shares of DocuSign by 3,026.7% during the fourth quarter. Principal Financial Group Inc. now owns 546,796 shares of the company’s stock valued at $49,179,000 after purchasing an additional 529,308 shares during the period. 77.64% of the stock is owned by institutional investors and hedge funds.

DocuSign Company Profile

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.