Wells Fargo & Company Increases Doximity (NASDAQ:DOCS) Price Target to $55.00

Doximity (NASDAQ:DOCS) had its price objective raised by Wells Fargo & Company from $43.00 to $55.00 in a research note published on Friday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Other research analysts have also issued research reports about the stock. JPMorgan Chase & Co. increased their price target on shares of Doximity from $30.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. Bank of America raised their target price on Doximity from $54.00 to $57.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Truist Financial boosted their price target on Doximity from $35.00 to $49.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. KeyCorp lowered their price objective on Doximity from $70.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Finally, Mizuho assumed coverage on Doximity in a report on Wednesday, December 4th. They issued a “neutral” rating and a $55.00 target price for the company. Twelve research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $62.44.

Doximity Price Performance

Shares of NASDAQ DOCS opened at $78.97 on Friday. Doximity has a one year low of $22.96 and a one year high of $80.71. The business’s 50-day moving average price is $55.61 and its two-hundred day moving average price is $45.66. The company has a market capitalization of $14.74 billion, a P/E ratio of 90.77, a price-to-earnings-growth ratio of 4.68 and a beta of 1.39.

Doximity (NASDAQ:DOCS) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.02). The firm had revenue of $136.83 million during the quarter, compared to analyst estimates of $127.05 million. Doximity had a return on equity of 19.79% and a net margin of 33.69%. During the same quarter in the prior year, the company posted $0.18 EPS. On average, equities analysts anticipate that Doximity will post 0.88 EPS for the current year.

Insider Activity at Doximity

In related news, Director Timothy S. Cabral sold 20,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $57.62, for a total transaction of $1,152,400.00. Following the transaction, the director now directly owns 6,360 shares in the company, valued at $366,463.20. The trade was a 75.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 37.40% of the stock is owned by corporate insiders.

Institutional Trading of Doximity

Several institutional investors have recently modified their holdings of the company. 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 worth $29,000 after purchasing an additional 440 shares during the period. UMB Bank n.a. raised its stake in shares of Doximity by 69.1% in the 4th 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. Farther Finance Advisors LLC lifted its holdings in shares of Doximity by 324.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 789 shares of the company’s stock worth $34,000 after acquiring an additional 603 shares during the period. Larson Financial Group LLC boosted its position in shares of Doximity by 49.4% during the 4th quarter. Larson Financial Group LLC now owns 756 shares of the company’s stock valued at $40,000 after acquiring an additional 250 shares in the last quarter. Finally, Morse Asset Management Inc bought a new stake 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.