DocuSign Inc. [NASDAQ: DOCU] gained 3.88% or 2.29 points to close at $61.28 with a heavy trading volume of 3077059 shares. The company report on February 16, 2023 that DocuSign Announces Timing of Fourth Quarter and Full Year Fiscal 2023 Earnings Conference Call.
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DocuSign (Nasdaq: DOCU) today announced that its fourth quarter and full year fiscal 2023 results will be released on Thursday, March 9, 2023, after the close of the market. The company will host a conference call at 1:30 p.m. Pacific Standard Time (4:30 p.m. Eastern Standard Time) to discuss its financial results. A live webcast of the event will be available on the DocuSign Investor Relations website at investor.docusign.com. A live dial-in will be available domestically at 877-407-0784 or internationally at 201-689-8560. A replay will be available domestically at 844-512-2921 or internationally at 412-317-6671 until midnight (ET) March 23, 2023 using the passcode 13736321.
It opened the trading session at $58.06, the shares rose to $61.595 and dropped to $57.8601, the range by which the price of stock traded the whole day. The daily chart for DOCU points out that the company has recorded 4.63% gains over the past six months. However, it is still -54.86% lower than its most recent low trading price.
If we look at the average trading volume of 5.52M shares, DOCU reached to a volume of 3077059 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 $64.69 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 2.80. 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.
Wolfe Research have made an estimate for DocuSign Inc. shares, keeping their opinion on the stock as Peer Perform, with their previous recommendation back on February 23, 2023. The new note on the price target was released on February 21, 2023, representing the official price target for DocuSign Inc. stock. Previously, the target price had yet another raise from $50 to $70, while Jefferies kept a Buy rating on DOCU stock. On December 09, 2022, analysts decreased their price target for DOCU shares from 54 to 50.
The Average True Range (ATR) for DocuSign Inc. is set at 3.21, with the Price to Sales ratio for DOCU stock in the period of the last 12 months amounting to 5.25. The Price to Book ratio for the last quarter was 26.30, with the Price to Cash per share for the same quarter was set at 4.67. Price to Free Cash Flow for DOCU in the course of the last twelve months was 33.13 with Quick ratio for the last quarter at 1.00.
Trading performance analysis for DOCU stock
DocuSign Inc. [DOCU] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.26. With this latest performance, DOCU shares gained by 1.06% in over the last four-week period, additionally plugging by 4.63% over the last 6 months – not to mention a drop of -48.02% 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 50.79, with the RSI for the last a single of trading hit 49.88, and the three-weeks RSI is set at 51.85 for DocuSign Inc. [DOCU]. The present Moving Average for the last 50 days of trading for this stock 59.19, while it was recorded at 60.10 for the last single week of trading, and 59.35 for the last 200 days.
DocuSign Inc. [DOCU]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and DocuSign Inc. [DOCU] shares currently have an operating margin of -2.68 and a Gross Margin at +77.24. DocuSign Inc.’s Net Margin is presently recorded at -3.32.
Return on Equity for this stock declined to -23.28, with Return on Assets sitting at -2.87.
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 $9,677 million, or 78.60% of DOCU stock, in the hands of institutional investors. The top three institutional holders of DOCU stocks are: VANGUARD GROUP INC with ownership of 19,056,614, which is approximately 3.112% of the company’s market cap and around 1.00% of the total institutional ownership; BLACKROCK INC., holding 13,297,680 shares of the stock with an approximate value of $814.88 million in DOCU stocks shares; and POLEN CAPITAL MANAGEMENT LLC, currently with $503.11 million in DOCU stock with ownership of nearly -5.055% of the company’s market capitalization.
Positions in DocuSign Inc. stocks held by institutional investors increased at the end of Friday and at the time of the Friday reporting period, where 358 institutional holders increased their position in DocuSign Inc. [NASDAQ:DOCU] by around 29,051,435 shares. Additionally, 401 investors decreased positions by around 26,386,902 shares, while 106 investors held positions by with 102,470,688 shares. The mentioned changes placed institutional holdings at 157,909,025 shares, according to the latest SEC report filing. DOCU stock had 134 new institutional investments in for a total of 6,189,683 shares, while 116 institutional investors sold positions of 4,418,132 shares during the same period.