Wells Fargo Sticks to Their Sell Rating for DocuSign (DOCU)

In a report released on April 26, Michael Turrin from Wells Fargo maintained a Sell rating on DocuSign (DOCU – Research Report), with a price target of $48.00. The company’s shares closed last Friday at $57.20.

Turrin covers the Technology sector, focusing on stocks such as HubSpot, Microsoft, and Adobe. According to TipRanks, Turrin has an average return of -3.9% and a 46.94% success rate on recommended stocks.

DocuSign has an analyst consensus of Hold, with a price target consensus of $66.77.

Based on DocuSign’s latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $712.39 million and a net profit of $27.24 million. In comparison, last year the company earned a revenue of $659.58 million and had a net profit of $4.86 million

Based on the recent corporate insider activity of 82 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of DOCU in relation to earlier this year.

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DocuSign (DOCU) Company Description:

Founded in 2003 and headquarterd in California, DocuSign, Inc. is a cloud-based electronic signature solutions name that helps companies and individuals to manage electronic agreements. The company automates manual, paper-based processes, allowing users to manage all aspects of documented business transactions including identity management, authentication, digital signature, forms and data collection, collaboration, workflow automation and storage.