Wall Street brokerages forecast that Docusign Inc (NASDAQ:DOCU) will report sales of $208.49 million for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Docusign’s earnings. The lowest sales estimate is $206.40 million and the highest is $213.09 million. Docusign reported sales of $155.81 million during the same quarter last year, which indicates a positive year over year growth rate of 33.8%. The business is scheduled to report its next earnings report on Thursday, June 6th.
On average, analysts expect that Docusign will report full year sales of $913.96 million for the current year, with estimates ranging from $912.20 million to $920.16 million. For the next year, analysts forecast that the company will report sales of $1.13 billion, with estimates ranging from $1.10 billion to $1.14 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Docusign.
Docusign (NASDAQ:DOCU) last released its quarterly earnings data on Thursday, March 14th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.01). Docusign had a negative return on equity of 86.06% and a negative net margin of 60.84%. The company had revenue of $199.73 million for the quarter, compared to analyst estimates of $193.63 million. The company’s quarterly revenue was up 34.2% compared to the same quarter last year.
Several equities research analysts recently commented on DOCU shares. Deutsche Bank upgraded Docusign from a “hold” rating to a “buy” rating and upped their target price for the company from $50.00 to $65.00 in a research report on Tuesday, February 12th. Zacks Investment Research upgraded Docusign from a “sell” rating to a “hold” rating in a research report on Monday, December 17th. Wedbush upped their target price on Docusign from $48.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Piper Jaffray Companies upped their target price on Docusign from $50.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, March 11th. Finally, KeyCorp started coverage on Docusign in a research report on Monday, January 28th. They set an “overweight” rating and a $59.00 target price on the stock. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Docusign presently has an average rating of “Buy” and a consensus price target of $61.75.
DOCU traded up $0.40 on Friday, reaching $55.65. The stock had a trading volume of 17,338 shares, compared to its average volume of 2,497,345. Docusign has a fifty-two week low of $35.06 and a fifty-two week high of $68.35. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.71. The stock has a market cap of $9.39 billion and a PE ratio of -19.27.
In other news, insider Kirsten O. Wolberg sold 10,166 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $52.95, for a total value of $538,289.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kirsten O. Wolberg sold 28,310 shares of the company’s stock in a transaction that occurred on Tuesday, January 22nd. The shares were sold at an average price of $46.10, for a total value of $1,305,091.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 709,378 shares of company stock worth $34,993,383.
Hedge funds have recently added to or reduced their stakes in the stock. Highland Private Wealth Management bought a new position in Docusign in the 4th quarter valued at approximately $1,413,000. Harbour Capital Advisors LLC bought a new position in Docusign in the 4th quarter valued at approximately $202,000. LPL Financial LLC lifted its position in Docusign by 74.5% in the 3rd quarter. LPL Financial LLC now owns 66,172 shares of the company’s stock valued at $3,479,000 after acquiring an additional 28,242 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in Docusign in the 4th quarter valued at approximately $156,000. Finally, Hershey Trust Co. bought a new position in Docusign in the 4th quarter valued at approximately $3,972,000. 53.14% of the stock is currently owned by institutional investors and hedge funds.
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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