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DOCU Stock Forecast 2023: DocuSign Inc. (NASDAQ: DOCU) Is Weak With A -97.95% Downside

In the last trading session, 7.1 million DocuSign Inc. (NASDAQ:DOCU) shares changed hands as the company’s beta touched 0.90. With the company’s per share price at $43.95 changed hands at -$1.0 or -2.22% during last session, the market valuation stood at $9.13B. DOCU’s last price was a discount, traded about -58.02% off its 52-week high of $69.45. The share price had its 52-week low at $39.57, which suggests the last value was 9.97% up since then. When we look at DocuSign Inc.’s average trading volume, we note the 10-day average is 7.09 million shares, with the 3-month average coming to 3.27 million.

Analysts gave the DocuSign Inc. (DOCU) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.90. If we narrow down to specifics, the data shows that 5 out of 26 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 16 recommended DOCU as a Hold, 4 felt it is a Buy and 0 rated the stock as Underweight. DocuSign Inc.’s EPS for the current quarter is expected to be $0.63.

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DocuSign Inc. (NASDAQ:DOCU) trade information

Instantly DOCU was in red as seen at the end of in last trading. With action -12.47%, the performance over the past five days has been red. The drop to weekly highs of 50.74 on Friday, 09/15/23 subtracted -2.22% to the stock’s daily price. The company’s shares are showing year-to-date downside of -20.70%, with the 5-day performance at -12.47% in the red. However, in the 30-day time frame, DocuSign Inc. (NASDAQ:DOCU) is -9.12% down. Looking at the short shares, we see there were 8.66 million shares sold at short interest cover period of 4.21 days.

The consensus price target for the stock as assigned by Wall Street analysts is $62.99, meaning bulls need an upside of 30.23% from its current market value. According to analyst projections, DOCU’s forecast low is $42.00 with $87.00 as the target high. To hit the forecast high, the stock’s price needs a -97.95% plunge from its current level, while the stock would need to tank 4.44% for it to hit the projected low.

DocuSign Inc. (DOCU) estimates and forecasts

Data shows that the DocuSign Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -25.27% over the past 6 months, a 28.57% in annual growth rate that is considerably higher than the industry average of 17.90%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for DocuSign Inc. will rise 10.50%, while the growth in revenue is estimated to hit -10.80% for the next quarter. Year-over-year growth is forecast to reach 8.60% up from the last financial year.

Consensus estimates given by 16 financial analysts project the company’s revenue in the current quarter to hit an average of $690.1 million. 16 analysts are of the opinion that DocuSign Inc.’s revenue for the quarter ending Jan 2024 will be $693.56 million. The estimates for the next quarter sales put growth at 5.20%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -4.80%. The 2023 estimates are for DocuSign Inc. earnings to decrease by -36.30%, but the outlook for the next 5-year period is at 20.00% per year.

DOCU Dividends

DocuSign Inc. is expected to release its next quarterly earnings report in October.

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

If we look at who the major shareholders are, we find that insiders hold 1.20% of DocuSign Inc. shares while 79.10% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 80.06%. There are 79.10% institutions holding the DocuSign Inc. stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 10.09% of the shares, roughly 20.5 million DOCU shares worth $1.05 billion.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 6.07% or 12.33 million shares worth $630.17 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Growth Fund Of America Inc. With 6.27 million shares estimated at $320.4 million under it, the former controlled 3.09% of total outstanding shares. On the other hand, Growth Fund Of America Inc held about 3.05% of the shares, roughly 6.19 million shares worth around $316.19 million.

On Key

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