Oppenheimer has raised its target price by $ 100 on DocuSign, Inc. (NASDAQ:DOCU) to $ 300.00 from the previous mark of $ 200.00, suggesting the upside potential of more than 11.61 percent from the existing levels. However, the brokerage has maintained its Outperform rating on the stock, Benzinga reported.
Shares of DocuSign, Inc. traded low $ -8.20 or -3.05 percent on Wednesday, reaching $ 260.60 with volume of 13.50 million shares. The stock opened positive for the day at $ 282.72, after closing the previous day trading at $ 268.80. According to the previous trading day, closing price of $ 268.80, representing a 490.51 % increase from the 52 week low of $ 45.52 and a 7.38 % decrease over the 52 week high of $ 290.21.
With respect to the key metrics, DocuSign, Inc. stock has advanced $ 118.76 or 84.00 percent, reaching $ 141.84 during the simple moving average (SMA) period of 200 days. Similarly, the stock has increased $ 52.67 or 25.00 percent, before arriving at $ 207.93 during the SMA50-day period.
DocuSign, Inc. recently reported first quarter financial results on June 4, 2020, after market close, provider of cloud based transaction products and services communicated income for the first quarter of $ 0.12 per share, from the revenue of $ 297.02 million. The quarterly earnings hiked 71.43 percent compared with the same quarter last year. According to street consensus, DOCU was expected to report 1Q21 income of $ 0.10 per share from revenue of $ 280.93 million. The bottom line results beat street analysts by $ 0.02 or 20.00 percent, at the same time, top line results outshined analysts by $ 16.09 million or 5.73 percent.
Moving ahead, the consensus estimates from Thomson Reuters for the second quarter are income of $ 0.08 per share from $ 318.57 million in revenue. For the full year, analysts predict revenues of $ 1316.39 million, while looking forward to income of $ 0.48 per share.
DocuSign, Inc. provides cloud based software in the United States. The company offers e-signature solution that enables businesses to digitally prepare, execute, and act on agreements.
