Doximity (NASDAQ:DOCS) Price Target Raised to $33.00

Doximity (NASDAQ:DOCS) had its price objective lifted by Morgan Stanley from $26.00 to $33.00 in a research note released on Wednesday morning, Benzinga reports. Morgan Stanley currently has an underweight rating on the stock.

DOCS has been the topic of a number of other reports. Evercore ISI boosted their price target on shares of Doximity from $34.00 to $45.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 8th. Bank of America upped their target price on shares of Doximity from $32.00 to $45.00 and gave the stock a “neutral” rating in a research note on Monday, October 7th. Wells Fargo & Company cut shares of Doximity from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $27.00 to $19.00 in a research report on Thursday, July 18th. JPMorgan Chase & Co. upped their price objective on Doximity from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Finally, Barclays upgraded Doximity from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $35.00 to $52.00 in a research note on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $36.42.

Doximity Stock Performance

NASDAQ:DOCS opened at $42.35 on Wednesday. Doximity has a fifty-two week low of $20.28 and a fifty-two week high of $44.88. The company has a 50 day moving average price of $40.66 and a 200 day moving average price of $32.33. The stock has a market capitalization of $7.86 billion, a P/E ratio of 52.94, a PEG ratio of 5.05 and a beta of 1.29.

Doximity (NASDAQ:DOCS) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. The business had revenue of $126.68 million during the quarter, compared to analysts’ expectations of $119.88 million. Doximity had a return on equity of 19.26% and a net margin of 32.53%. Research analysts forecast that Doximity will post 0.8 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Watkin Phoebe L. Yang sold 1,011 shares of Doximity stock in a transaction on Monday, August 5th. The shares were sold at an average price of $25.54, for a total transaction of $25,820.94. Following the sale, the director now directly owns 11,258 shares in the company, valued at $287,529.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Anna Bryson sold 30,000 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $35.00, for a total value of $1,050,000.00. Following the completion of the sale, the chief financial officer now directly owns 309,627 shares of the company’s stock, valued at approximately $10,836,945. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Watkin Phoebe L. Yang sold 1,011 shares of Doximity stock in a transaction on Monday, August 5th. The shares were sold at an average price of $25.54, for a total transaction of $25,820.94. Following the completion of the transaction, the director now directly owns 11,258 shares in the company, valued at $287,529.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 37.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Covestor Ltd grew its holdings in shares of Doximity by 441.9% during the third quarter. Covestor Ltd now owns 1,680 shares of the company’s stock worth $73,000 after buying an additional 1,370 shares during the last quarter. CWA Asset Management Group LLC acquired a new stake in Doximity during the 3rd quarter worth approximately $486,000. Lmcg Investments LLC grew its stake in shares of Doximity by 5.3% in the 3rd quarter. Lmcg Investments LLC now owns 152,435 shares of the company’s stock valued at $6,642,000 after purchasing an additional 7,608 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Doximity by 324.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 789 shares of the company’s stock valued at $34,000 after purchasing an additional 603 shares during the last quarter. Finally, Stephens Inc. AR acquired a new position in shares of Doximity in the third quarter valued at approximately $257,000. 87.19% of the stock is owned by hedge funds and other institutional investors.

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.