DocuSign Inc (NASDAQ:DOCU) price on Friday, October 25, fall -2.25% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $68.99.
A look at the stock’s price movement, the close in the last trading session was $70.58, moving within a range at $68.64 and $70.96. The beta value (5-Year monthly) was 0.917 while the PE ratio in trailing twelve months stood at 14.55. Turning to its 52-week performance, $73.80 and $38.11 were the 52-week high and 52-week low respectively. Overall, DOCU moved 10.33% over the past month.
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DocuSign Inc’s market cap currently stands at around $14.00 billion, with investors looking forward to this quarter’s earnings report slated for on 2024-Dec-05.
Analysts have a consensus estimate of 745.26M for the company’s revenue for the quarter, with a low and high estimate of 743.53M and 751.77M respectively. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 2.95B, representing a 6.70% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that DOCU is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
18 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 10 analyst(s) rate the stock as a Hold, 8 recommend DOCU as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Hold which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
The technical evaluation for the stock shows the PEG ratio is 1.56, with DOCU’s current price about 1.56% and 11.59% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 60.37, while 7-day volatility ratio is 2.50% and 2.54% in the 30-day chart. Further, DocuSign Inc (DOCU) has a beta value of 0.91, and an average true range (ATR) of 1.85. Analysts have given the company’s stock an average 52-week price target of $63, forecast between a low of $52 and high of $95. Looking at the price targets, the low is 24.63% off current price level while to achieve the yearly target high, price needs to move -37.7%. Nonetheless, investors will most likely welcome a 8.68% jump to $63 which is the analysts’ median price.
If we refocus on DocuSign Inc (NASDAQ:DOCU), historical trading data shows that trading volumes averaged 3.4 over the past 10 days and 3.10 million over the past 3 months. The company’s latest data on shares outstanding shows there are 205.33 million shares.
The 1.01% of DocuSign Inc’s shares are in the hands of company insiders while institutional holders own 80.25% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 9.45 million on 2024-09-30, giving us a short ratio of 3.1. The data shows that as of 2024-09-30 short interest in DocuSign Inc (DOCU) stood at 526.00004 of shares outstanding, with shares short rising to 8.55 million registered in 2024-08-30. Current price change has pushed the stock 16.05% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the DOCU stock continues to rise going into the next quarter.
