Doximity (NASDAQ:DOCS) Price Target Raised to $80.00

Doximity (NASDAQ:DOCS) had its price target increased by The Goldman Sachs Group from $58.00 to $80.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target indicates a potential downside of 5.09% from the company’s previous close.

A number of other research analysts have also recently commented on the company. Wells Fargo & Company upped their price target on Doximity from $43.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Friday. Needham & Company LLC upped their price target on Doximity from $65.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday. KeyCorp decreased their price target on Doximity from $70.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Canaccord Genuity Group upped their price objective on Doximity from $60.00 to $71.00 and gave the stock a “hold” rating in a research report on Friday. Finally, Raymond James reaffirmed an “outperform” rating and set a $83.00 price objective (up previously from $65.00) on shares of Doximity in a research report on Friday. Eleven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $63.67.

Doximity Price Performance

DOCS traded up $5.06 during trading hours on Monday, reaching $84.29. The company’s stock had a trading volume of 2,201,189 shares, compared to its average volume of 1,917,647. Doximity has a fifty-two week low of $22.96 and a fifty-two week high of $84.73. The stock has a market cap of $15.74 billion, a PE ratio of 84.30, a P/E/G ratio of 4.61 and a beta of 1.39. The business’s 50-day moving average is $55.61 and its 200-day moving average is $45.91.

Doximity (NASDAQ:DOCS) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.02). Doximity had a return on equity of 22.38% and a net margin of 36.60%. The firm had revenue of $136.83 million for the quarter, compared to analyst estimates of $127.05 million. During the same quarter last year, the company earned $0.18 earnings per share. Analysts expect that Doximity will post 0.88 EPS for the current year.

Insider Buying and Selling at Doximity

In other news, Director Timothy S. Cabral sold 20,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $57.62, for a total transaction of $1,152,400.00. Following the completion of the sale, the director now owns 6,360 shares in the company, valued at approximately $366,463.20. This represents a 75.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 37.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Doximity

Hedge funds have recently made changes to their positions in the business. Global Retirement Partners LLC lifted its position in Doximity by 468.1% in the fourth quarter. Global Retirement Partners LLC now owns 534 shares of the company’s stock valued at $29,000 after purchasing an additional 440 shares during the period. UMB Bank n.a. increased its holdings in Doximity by 69.1% in the fourth quarter. UMB Bank n.a. now owns 575 shares of the company’s stock valued at $31,000 after buying an additional 235 shares in the last quarter. Larson Financial Group LLC increased its holdings in Doximity by 49.4% in the fourth quarter. Larson Financial Group LLC now owns 756 shares of the company’s stock valued at $40,000 after buying an additional 250 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Doximity by 324.2% in the third quarter. Farther Finance Advisors LLC now owns 789 shares of the company’s stock valued at $34,000 after buying an additional 603 shares in the last quarter. Finally, Morse Asset Management Inc purchased a new position in Doximity in the third quarter valued at about $46,000. Institutional investors and hedge funds own 87.19% of the company’s stock.

Doximity Company Profile

Doximity, Inc operates a cloud-based digital platform for medical professionals in the United States. The company's platform provides its members with tools built for medical professionals, enabling them to collaborate with their colleagues, coordinate patient care, conduct virtual patient visits, stay up to date with the latest medical news and research, and manage their careers.