In a recent development, Wells Fargo analyst Michael Turrin has upgraded Docusign (DOCU, Financial) from an "Underweight" rating to an "Equal-Weight" rating. This change reflects a positive shift in the analyst's outlook on the stock.
Additionally, Wells Fargo has raised its price target for Docusign (DOCU, Financial) from $67.00 to $80.00 USD. This adjustment represents a 19.40% increase from the prior price target, indicating increased confidence in the company's future performance.
This upgrade and increased price target come amid ongoing evaluations of Docusign's market position and potential growth prospects. Investors may find this update noteworthy as it highlights a shift in sentiment from a key financial institution's perspective.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 16 analysts, the average target price for Docusign Inc (DOCU, Financial) is $90.34 with a high estimate of $124.00 and a low estimate of $67.00. The average target implies an upside of 18.85% from the current price of $76.01. More detailed estimate data can be found on the Docusign Inc (DOCU) Forecast page.
Based on the consensus recommendation from 23 brokerage firms, Docusign Inc's (DOCU, Financial) average brokerage recommendation is currently 2.7, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Docusign Inc (DOCU, Financial) in one year is $68.63, suggesting a downside of 9.71% from the current price of $76.01. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Docusign Inc (DOCU) Summary page.
