New round of initiations for DocuSign includes 37% upside

New round of initiations for DocuSign includes 37% upside

May 22, 2018 0 By FandomFare

New round of initiations for DocuSign includes 37% upside

 

 

Deutsche Bank starts DocuSign with a Hold rating and $45 value focus on, a 5% upside to yesterday's close.

Flautist Jaffray begins DocuSign at Overweight with a $52 target (21% upside).

More Action: JMP Securities, Market Outperform and $52 target; Morgan Stanley, Equal Weight and $42 target (2% drawback); Citi, Buy and $59 target (37% upside).

Source: Briefing.com.

DocuSign shares are up 1.2% premarket to $43.50.

 

SAN FRANCISCOMay 2, 2018 /PRNewswire/ -- DocuSign, Inc. announced the closing on May 1, 2018 of its initial public offering of 24,955,000 shares of common stock, including the full exercise by the underwriters of their option to purchase 3,255,000 additional shares of common stock, at a price to the public of $29.00 per share.  In total, 19,314,182 of the shares were offered by DocuSign and 5,640,818 of the shares were offered by certain stockholders.  DocuSign did not receive any proceeds from the sale of the shares by the selling stockholders. The shares are listed for trading on the Nasdaq Global Select Market under the symbol "DOCU."

DocuSign, Inc. (PRNewsFoto/DocuSign, Inc.)

Morgan Stanley and J.P. Morgan acted as lead book-running managers for the offering. Citigroup, BofA Merrill Lynch and Deutsche Bank Securities were additional book-running managers, and JMP Securities, Piper Jaffray and William Blair acted as co-managers for the offering.

The offering was made only by means of a prospectus. A copy of the final prospectus may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014 or email at [email protected]; or J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-866- 803-9204, or email at [email protected].

A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About DocuSign

Founded in 2003, DocuSign® offers the leading e-signature solution as part of its broader platform for automating the agreement process. Today, DocuSign's cloud-based platform enables more than 370,000 companies and hundreds of millions of users in over 180 countries to accelerate business and simplify life.