Wall Street brokerages expect that DocuSign, Inc. (NASDAQ:DOCU – Get Rating) will report $581.05 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for DocuSign’s earnings. The lowest sales estimate is $580.61 million and the highest is $582.00 million. DocuSign posted sales of $469.08 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 23.9%. The business is expected to announce its next earnings report on Monday, January 1st.
On average, analysts expect that DocuSign will report full year sales of $2.48 billion for the current year, with estimates ranging from $2.47 billion to $2.48 billion. For the next financial year, analysts expect that the business will report sales of $2.94 billion, with estimates ranging from $2.82 billion to $3.03 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for DocuSign.
DocuSign (NASDAQ:DOCU – Get Rating) last posted its quarterly earnings data on Thursday, March 10th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.10). The business had revenue of $580.83 million during the quarter, compared to analyst estimates of $561.60 million. DocuSign had a negative net margin of 3.32% and a negative return on equity of 12.39%. The company’s revenue for the quarter was up 34.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.08) earnings per share.
A number of analysts recently commented on DOCU shares. Wedbush downgraded shares of DocuSign from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $80.00 to $60.00 in a report on Tuesday, May 3rd. Morgan Stanley cut their price objective on shares of DocuSign from $121.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, March 14th. Royal Bank of Canada boosted their price objective on shares of DocuSign from $95.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, April 6th. Piper Sandler dropped their price target on shares of DocuSign from $175.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, March 11th. Finally, JMP Securities dropped their price target on shares of DocuSign from $307.00 to $180.00 and set a “market outperform” rating for the company in a research report on Friday, March 11th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $174.12.
Shares of NASDAQ:DOCU opened at $79.17 on Friday. The company has a market cap of $15.83 billion, a price-to-earnings ratio of -226.20 and a beta of 1.05. The firm’s 50-day simple moving average is $91.98 and its 200-day simple moving average is $142.08. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 2.61. DocuSign has a fifty-two week low of $64.84 and a fifty-two week high of $314.76.
In other DocuSign news, COO Scott V. Olrich sold 12,500 shares of the stock in a transaction on Tuesday, March 29th. The shares were sold at an average price of $110.15, for a total transaction of $1,376,875.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Scott V. Olrich sold 3,948 shares of the stock in a transaction on Tuesday, April 5th. The shares were sold at an average price of $110.09, for a total transaction of $434,635.32. Following the transaction, the chief operating officer now owns 230,663 shares in the company, valued at $25,393,689.67. The disclosure for this sale can be found here. Corporate insiders own 3.87% of the company’s stock.
Several large investors have recently modified their holdings of the business. Proficio Capital Partners LLC raised its holdings in shares of DocuSign by 110.9% during the first quarter. Proficio Capital Partners LLC now owns 5,671 shares of the company’s stock worth $606,000 after purchasing an additional 2,982 shares during the period. Centaurus Financial Inc. raised its holdings in shares of DocuSign by 37.3% during the first quarter. Centaurus Financial Inc. now owns 7,274 shares of the company’s stock worth $779,000 after purchasing an additional 1,978 shares during the period. Renaissance Technologies LLC raised its holdings in shares of DocuSign by 744.5% during the first quarter. Renaissance Technologies LLC now owns 1,042,900 shares of the company’s stock worth $111,715,000 after purchasing an additional 919,400 shares during the period. Northern Trust Corp raised its holdings in shares of DocuSign by 27.4% during the first quarter. Northern Trust Corp now owns 1,749,432 shares of the company’s stock worth $187,399,000 after purchasing an additional 376,293 shares during the period. Finally, Industrial Alliance Investment Management Inc. raised its holdings in shares of DocuSign by 11.6% during the first quarter. Industrial Alliance Investment Management Inc. now owns 11,396 shares of the company’s stock worth $1,221,000 after purchasing an additional 1,181 shares during the period. 75.62% of the stock is currently owned by institutional investors.
About DocuSign (Get Rating)
DocuSign, Inc provides electronic signature software in the United States and internationally. The company provides e-signature solution that enables businesses to digitally prepare, sign, act on, and manage agreements. It also offers CLM, which automates workflows across the entire agreement process; Insights that use artificial intelligence (AI) to search and analyze agreements by legal concepts and clauses; Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce; Negotiate for Salesforce that supports for approvals, document comparisons, and version control; Analyzer, which helps customers understand what they’re signing before they sign it; and CLM+ that provide AI-driven contract lifecycle management.
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