Piper Sandler raises DocuSign Inc. [DOCU]’s rating to Overweight and price target to $300

Piper Sandler took its DocuSign [DOCU] rating to the equivalent of Overweight from Neutral, and the ‎price target to 300.0, in a research note dated 2021-01-05. That figure represents around a 34.89% ‎premium from where the company’s shares closed on Monday. Some new analysts also started their ‎coverage, with Needham’s analysts assigning the shares to “a Buy” rating in a research note to ‎investors issued in mid November. Meanwhile, Robert W. Baird had launched its coverage on DOCU ‎with “an Outperform”, in a research note produced for clients October 27, 2020. In addition, UBS ‎launched coverage on October 14, 2020. The research firm rated DOCU “a Buy”.

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Is DocuSign Inc. [NASDAQ:DOCU] a Good Buy ‎Right Now?

It should be noted that DOCU technical indicators for short, intermediate as well as ‎long term progress have placed an overall average of 72% as Buy. The average signal changed from ‎‎100% Buy in the last week and compares with 56% Buy in the past month. Data from DocuSign Inc.’s ‎Trend Spotter indicated that the signals were Weakening. The stock current average is 3.9 million ‎shares in the past 20 days and the short term average signal indicates a 50% Buy. In the last 50 days, ‎the average trading volume was 3.76 million shares while the medium term average advocated for 50% ‎Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 4.99 ‎million shares.

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DOCU Price Performance

On Wall Street, DocuSign Inc. [NASDAQ:DOCU] ‎finished Monday’s session up 0.05% at $222.41. The stock went up to $224.625 at the same session ‎while its lowest single day price was $216.50. In the last five days, it saw a fall of about -9.19%, ‎DocuSign Inc. shares gained by almost 0.05% since the beginning of the year. However, the share price ‎has dropped to as low as -23.37% below its one year high. On 01/04/21, the company shares recorded ‎‎$224.63, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on ‎‎01/04/21, the same year at $216.50. The company’s shares have inclined by 194.35% in the past year. ‎The 50-day SMA achieved is $223.68 while the 200-day SMA is $182.49. Volume gained to 2.76 million ‎from 2.21 million in the previous session.

DOCU Stock Support And Resistance Levels

On the ‎‎24-hour scale, the immediate backing is perceived around 217.73 level, and in case of violation of this ‎particular level, it will cause more drop to 213.05 level. On the upper level, 229.30 is still the key ‎resistance. The stock may increase to the subsequent resistance at 225.86. The Relative Strength Index ‎‎(RSI) pinned on the 14-day chart is 44.28, implying a neutral technical stance while the MACD stands at ‎‎-12.44, meaning price will decrease in the next trading period. Percent R indicator moved to 83.71%, ‎implying bearish price movement. Stochastic %K at 8.95% suggest selling the stock.

What is the ‎short interest in DocuSign Inc.?

Short interest in the DocuSign Inc. stock has surged, increasing by ‎‎1.13 million shares to total 7.98 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, ‎‎2020 stand at 9.11 million, data from Yahoo Finance shows. The decrease of -14.16% suggests the stock ‎saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the ‎shorted shares account for just 5.07% of the overall float for the stock.

DocuSign Inc.’s Biggest ‎Shareholders: Who Owns DocuSign Inc. [DOCU]?

Filings by The Vanguard Group, Inc. showed ‎that the firm now holds a total of 15,828,618 shares or roughly 8.55% of the outstanding DOCU shares. ‎This means their shares have increased by 295,393 from the 15,828,618 the investor reportedly held in ‎its prior 13-F filing. With the conclusion of the purchase, T. Rowe Price Associates, Inc. updated stake is ‎worth $3,240,787,672. Details in the latest 13F filings reveal that BlackRock Fund Advisors acquired their ‎‎10.71% stake valued at $1,888,453,410. During the last quarter, BlackRock Fund Advisors raised 801,398 ‎of its shares in DocuSign Inc. while Lone Pine Capital LLC bought 4,135,353 shares. The SSgA Funds ‎Management, Inc.’s holdings currently number 3,667,014 shares at $815580583.74. According to the ‎firm’s last 13F report, Franklin Advisers, Inc. shares in the company at filing stood at 2,524,923 shares, ‎roughly $575,379,453.

DOCU Earnings Forecast For The Current Quarter

DocuSign Inc. ‎‎[DOCU] is expected to report strong earnings results for the quarter ending on Jan 2021. Consensus ‎estimates give the company expected revenues of $407.58M and an earnings per share of $0.22 for ‎Jan 2021. Looking further ahead, the company is expected to report revenue of $410.03M at an EPS of ‎‎$0.21 for Apr 2021. The estimates represent upside of 30.20% and 50.61% in the company’s revenue ‎and earnings per share, respectively, on a year-on-year basis.

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DOCU Earnings Estimates For The Current Year

For the ‎financial year, DocuSign Inc. [NASDAQ:DOCU] is expected to bring in revenue of $1.43B. The returns ‎are nearly $456.03 million higher than the company’s actual revenue recorded in the fiscal year 2020. In ‎terms of EPS for the 2021, estimate put it at 0.74, higher than that of FY20 by $0.43. Estimates put this ‎year’s earnings growth at 138.70%, 51.40% for the next, and at an annual 50.00% over the next 5-year ‎period. As for sales, forecasts are for an increase of 46.80% in the current fiscal year and a further ‎‎30.20% over the following year.‎

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