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”.
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.
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.
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.