Brokerages forecast that Docusign Inc (NASDAQ:DOCU) will announce sales of $208.49 million for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Docusign’s earnings. The highest sales estimate is $213.09 million and the lowest is $206.40 million. Docusign posted sales of $155.81 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 33.8%. The company is scheduled to announce its next quarterly earnings results on Thursday, June 6th.
According to Zacks, analysts expect that Docusign will report full-year sales of $913.96 million for the current financial year, with estimates ranging from $912.20 million to $920.16 million. For the next year, analysts expect that the firm will report sales of $1.13 billion, with estimates ranging from $1.10 billion to $1.14 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Docusign.
Docusign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, March 14th. The company reported ($0.24) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.01). The business had revenue of $199.73 million during the quarter, compared to the consensus estimate of $193.63 million. Docusign had a negative net margin of 60.84% and a negative return on equity of 86.06%. The firm’s revenue was up 34.2% on a year-over-year basis.
Several equities analysts have commented on DOCU shares. KeyCorp started coverage on Docusign in a research report on Monday, January 28th. They issued an “overweight” rating and a $59.00 price objective on the stock. Zacks Investment Research downgraded Docusign from a “hold” rating to a “sell” rating in a research report on Friday, January 18th. ValuEngine downgraded Docusign from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Morgan Stanley raised Docusign from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $52.00 to $53.00 in a research report on Tuesday, January 15th. Finally, Deutsche Bank raised Docusign from a “hold” rating to a “buy” rating and upped their price objective for the company from $50.00 to $65.00 in a research report on Tuesday, February 12th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $61.75.
Docusign stock traded down $0.45 during mid-day trading on Friday, hitting $53.05. The company’s stock had a trading volume of 1,229,885 shares, compared to its average volume of 2,175,861. The company has a market capitalization of $9.27 billion and a PE ratio of -18.29. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.71. Docusign has a one year low of $35.06 and a one year high of $68.35.
In other news, COO Scott V. Olrich sold 10,000 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $53.39, for a total transaction of $533,900.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CRO Loren Alhadeff sold 8,717 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $56.04, for a total value of $488,500.68. The disclosure for this sale can be found here. Insiders have sold a total of 40,883 shares of company stock worth $2,212,890 in the last three months.
Several institutional investors and hedge funds have recently bought and sold shares of DOCU. Bank of New York Mellon Corp grew its position in shares of Docusign by 762.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 536,887 shares of the company’s stock worth $28,224,000 after buying an additional 474,659 shares in the last quarter. Man Group plc purchased a new stake in shares of Docusign during the 3rd quarter worth $1,135,000. Legal & General Group Plc lifted its stake in shares of Docusign by 64.1% during the 3rd quarter. Legal & General Group Plc now owns 65,008 shares of the company’s stock worth $3,416,000 after purchasing an additional 25,384 shares during the last quarter. Morgan Stanley lifted its stake in shares of Docusign by 539.1% during the 3rd quarter. Morgan Stanley now owns 1,148,284 shares of the company’s stock worth $60,366,000 after purchasing an additional 968,599 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Docusign by 3.7% during the 3rd quarter. Vanguard Group Inc. now owns 1,922,947 shares of the company’s stock worth $101,089,000 after purchasing an additional 69,428 shares during the last quarter. 52.71% of the stock is currently owned by institutional investors and hedge funds.
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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