Today’s Research Reports on Stocks to Watch: Office Depot and DocuSign
NEW YORK, NY / ACCESSWIRE / June 11, 2018 / It was insider buying in the last ten days that sent shares of Office Depot higher. Shares of DocuSign also got a life after releasing impressive first quarter results last week which marked the first public quarterly report for the company. DocuSign made its market debut back in April.
RDI Initiates Coverage on:
Office Depot, Inc.
https://rdinvesting.com/news/?ticker=ODP
DocuSign, Inc.
https://rdinvesting.com/news/?ticker=DOCU
Office Depot, Inc. shares closed up 1.79% on nearly 8.2 million shares traded on Friday. There hasn't been any particular news from the company, but the office supply company saw gains last week after Wall Street learned that for the first time over a year, several insiders of the company have been scooping up shares. Insidercow.com has shown that buying began on May 30th with CFO Joseph Lower buying 20,000 shares at a price of $2.39. After this, a director, Travis Nigel, bought 10,000 shares at $2.39 a share. Last Monday director Joseph Vassalluzzo purchased 58,800 shares at $2.55. Since May 30th, insiders have purchased 88,800 shares of the company at a total investment of about $220,000. The last time insiders purchased Office Depot shares was in March 2017.
Access RDI's Office Depot, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=ODP
DocuSign, Inc. shares closed up 3.45% on a little over 7 million shares traded on Friday. It was on Thursday that the San Francisco-based company that provides electronic signature technology and digital transaction management services, released its first quarter financial results. This was the company's first public earnings report and Wall Street was impressed. The company reported a beat on both the top and bottom line and according to Citi, this reinforces the company's long-term prospects. Analyst Walter Pritchard of Citi has reiterated a "buy" rating on the company with a price target increase from $59 to $70 a share. In the first quarter, street expected revenue of $146 million, much lower than the revenue of $155.8 million company actually posted. Reported earnings of 1 cent per share was also much better than the loss of 7 cents expected by the street. Pritchard said that DocuSign's upside in the first quarter was brought on by a "wealth of sustainable drivers." CEO Dan Springer said in the earnings call with analysts that international business accounted for about 17% of overall sales. He said, "One of the key pillars of our growth strategy is our targeted international expansion. Currently, business from outside the U.S. represents only about 17% of our revenues — and there remains an incredible opportunity across our target markets.”
Access RDI's DocuSign, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=DOCU
Our Actionable Research on Office Depot, Inc. (NASDAQ: ODP) and DocuSign, Inc. (DOCU) can be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com
