Is DocuSign Inc.’s (NASDAQ: DOCU) Stock Ready For A Price Spike? – Marketing Sentinel
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Is DocuSign Inc.’s (NASDAQ: DOCU) Stock Ready For A Price Spike?

In the last trading session, 3.39 million shares of the DocuSign Inc. (NASDAQ:DOCU) were traded, and its beta was 0.91. Most recently the company’s share price was $254.69, and it changed around -$6.81 or -2.60% from the last close, which brings the market valuation of the company to $51.02B. DOCU currently trades at a discount to its 52-week high of $314.76, offering almost -23.59% off that amount. The share price’s 52-week low was $179.49, which indicates that the current value has risen by an impressive 29.53% since then. We note from DocuSign Inc.’s average daily trading volume that its 10-day average is 2.32 million shares, with the 3-month average coming to 2.19 million.

DocuSign Inc. stock received a consensus recommendation rating of an Overweight, based on a mean score of 1.80. If we narrow it down even further, the data shows that 0 out of 22 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 5 recommended DOCU as a Hold, whereas 16 deemed it a Buy, and 0 rated it as Underweight. DocuSign Inc. is expected to report earnings per share of $0.46 for the current quarter.

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DocuSign Inc. (NASDAQ:DOCU) trade information

Instantly DOCU has showed a red trend with a performance of -2.60% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 271.94 on Tuesday, 10/12/21 increased the stock’s daily price by 6.34%. The company’s shares are currently up 14.57% year-to-date, but still down -0.59% over the last five days. On the other hand, DocuSign Inc. (NASDAQ:DOCU) is -6.09% down in the 30-day period. We can see from the shorts that 7.12 million shares have been sold at a short interest cover period of 3.9 day(s).

The consensus price target as assigned by Wall Street analysts is $323.18, which translates to bulls needing to increase their stock price by 21.19% from its current value. Analyst projections state that DOCU is forecast to be at a low of $166.00 and a high of $389.00. In order for the stock price to hit the forecast high, the stock would need to plunge -52.73% from its current level, while the stock would need to crash 34.82% from its current level to reach the projected low.

DocuSign Inc. (DOCU) estimates and forecasts

DocuSign Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 13.01 percent over the past six months and at a 91.11% annual growth rate that is well above the industry average of 9.40%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain 109.10% in revenue this quarter, and will report an increase of 2.70% in the next quarter. The year-over-year growth rate is expected to be 43.60%, up from the previous year.

Consensus estimates provided by 15 financial analysts predict the company will bring in an average of $530.63 million in revenue for the current quarter. 15 analysts expect DocuSign Inc. to make $573.79 million in revenue for the quarter ending Jan 2022. Forecasts for the next quarter put sales growth at 33.20%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -7.50%. DocuSign Inc. earnings are expected to increase by -11.10% in 2021, but the outlook is positive 46.80% per year for the next five years.

DOCU Dividends

DocuSign Inc.’s next quarterly earnings report is expected to be released around December 01 and December 06.

DocuSign Inc. (NASDAQ:DOCU)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 2.23% of DocuSign Inc. shares, and 79.06% of them are in the hands of institutional investors. The stock currently has a share float of 80.87%. DocuSign Inc. stock is held by 1,356 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Jun 29, 2021, it held 8.70% of the shares, which is about 16.95 million shares worth $4.74 billion.

Blackrock Inc., with 5.77% or 11.24 million shares worth $3.14 billion as of Jun 29, 2021, holds the second largest percentage of outstanding shares.

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Vanguard Total Stock Market Index Fund and Vanguard Mid-Cap Index Fund were the top two Mutual Funds as of Mar 30, 2021. The former held 5.0 million shares worth $1.01 billion, making up 2.56% of all outstanding shares. On the other hand, Vanguard Mid-Cap Index Fund held roughly 3.98 million shares worth around $805.74 million, which represents about 2.04% of the total shares outstanding.

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