DocuSign (DOCU): New Buy Recommendation for This Technology Giant

Needham analyst Scott Berg assigned a Buy rating to DocuSign (DOCUResearch Report) today and set a price target of $275.00. The company’s shares closed last Thursday at $225.22.

According to, Berg is a top 25 analyst with an average return of 31.7% and a 73.5% success rate. Berg covers the Technology sector, focusing on stocks such as GTY Technology Holdings, BigCommerce Holdings, and Cornerstone Ondemand.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for DocuSign with a $286.17 average price target, which is a 29.5% upside from current levels. In a report issued on March 3, Citigroup also initiated coverage with a Buy rating on the stock with a $282.00 price target.

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Based on DocuSign’s latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $383 million and GAAP net loss of $58.49 million. In comparison, last year the company earned revenue of $250 million and had a GAAP net loss of $46.6 million.

Based on the recent corporate insider activity of 101 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of DOCU in relation to earlier this year.

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DocuSign, Inc. provides cloud-based electronic signature solutions. Its cloud based electronic signature platform helps companies and individuals securely collect information, automate data workflows and sign anything. The firm automates manual, paper-based processes allowing users to manage all aspects of documented business transactions include identity management, authentication, digital signature, forms and data collection, collaboration, workflow automation and storage. DocuSign was founded by Thomas H. Gonser and Court Lorenzini in 2003 and is headquartered in San Francisco, CA.