Wedbush slashes price target on DocuSign Inc. [DOCU] – find out why.

DocuSign Inc. [NASDAQ: DOCU] gained 5.05% on the last trading session, reaching $48.49 price per share at the time. The company report on October 17, 2022 that DocuSign named a Leader in 2022 Gartner® Magic Quadrant™ for Contract Lifecycle Management.

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As contract lifecycle management (CLM) continues to play a vital role in the digital transformation of agreements, DocuSign (NASDAQ:DOCU) was today named a Leader in the 2022 Magic Quadrant for CLM report by Gartner, Inc.

DocuSign named a Leader in the 2022 Magic Quadrant for CLM for the third year in a row!.

DocuSign Inc. represents 200.62 million in outstanding shares, while the company has a total market value of $10.22 billion with the latest information. DOCU stock price has been found in the range of $46.905 to $49.41.

If compared to the average trading volume of 4.58M shares, DOCU reached a trading volume of 7550524 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about DocuSign Inc. [DOCU]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for DOCU shares is $81.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on DOCU stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wedbush have made an estimate for DocuSign Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 12, 2022. While these analysts kept the previous recommendation, Morgan Stanley dropped their target price from $73 to $47. The new note on the price target was released on October 03, 2022, representing the official price target for DocuSign Inc. stock. Previously, the target price had yet another raise to $58, while MoffettNathanson analysts kept a Underperform rating on DOCU stock.

The Average True Range (ATR) for DocuSign Inc. is set at 3.20, with the Price to Sales ratio for DOCU stock in the period of the last 12 months amounting to 4.37. The Price to Book ratio for the last quarter was 23.89, with the Price to Cash per share for the same quarter was set at 4.72. Price to Free Cash Flow for DOCU in the course of the last twelve months was 23.21 with Quick ratio for the last quarter at 1.00.

Trading performance analysis for DOCU stock

DocuSign Inc. [DOCU] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.87. With this latest performance, DOCU shares dropped by -14.15% in over the last four-week period, additionally sinking by -52.47% over the last 6 months – not to mention a drop of -82.02% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for DOCU stock in for the last two-week period is set at 42.64, with the RSI for the last a single of trading hit 46.09, and the three-weeks RSI is set at 41.79 for DocuSign Inc. [DOCU]. The present Moving Average for the last 50 days of trading for this stock 57.92, while it was recorded at 46.04 for the last single week of trading, and 83.65 for the last 200 days.

DocuSign Inc. [DOCU]: A deeper dive into fundamental analysis

DocuSign Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.00.

DocuSign Inc. [DOCU]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for DOCU. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for DocuSign Inc. go to 20.00%.

An analysis of insider ownership at DocuSign Inc. [DOCU]

There are presently around $7,487 million, or 79.30% of DOCU stock, in the hands of institutional investors. The top three institutional holders of DOCU stocks are: VANGUARD GROUP INC with ownership of 18,273,597, which is approximately 5.574% of the company’s market cap and around 1.10% of the total institutional ownership; BLACKROCK INC., holding 11,291,594 shares of the stock with an approximate value of $547.53 million in DOCU stocks shares; and POLEN CAPITAL MANAGEMENT LLC, currently with $417.65 million in DOCU stock with ownership of nearly 55.142% of the company’s market capitalization.

Positions in DocuSign Inc. stocks held by institutional investors increased at the end of September and at the time of the September reporting period, where 348 institutional holders increased their position in DocuSign Inc. [NASDAQ:DOCU] by around 24,098,344 shares. Additionally, 493 investors decreased positions by around 23,705,185 shares, while 130 investors held positions by with 106,603,902 shares. The mentioned changes placed institutional holdings at 154,407,431 shares, according to the latest SEC report filing. DOCU stock had 72 new institutional investments in for a total of 1,470,267 shares, while 198 institutional investors sold positions of 7,023,530 shares during the same period.


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