Doximity (NASDAQ:DOCS) Upgraded to Strong-Buy at Leerink Partnrs

Leerink Partnrs upgraded shares of Doximity (NASDAQ:DOCS) from a hold rating to a strong-buy rating in a research note issued to investors on Friday,Zacks.com reports.

A number of other brokerages also recently issued reports on DOCS. Piper Sandler raised shares of Doximity from a “neutral” rating to an “overweight” rating and raised their price target for the company from $31.00 to $78.00 in a report on Friday. Truist Financial raised their price objective on Doximity from $35.00 to $49.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Raymond James restated an “outperform” rating and set a $83.00 target price (up previously from $65.00) on shares of Doximity in a research note on Friday. JPMorgan Chase & Co. increased their price objective on shares of Doximity from $30.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. Finally, The Goldman Sachs Group assumed coverage on Doximity in a report on Friday, November 15th. They issued a “neutral” rating and a $58.00 target price on the stock. Eleven investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.44.

Doximity Stock Performance

Shares of DOCS opened at $78.97 on Friday. Doximity has a fifty-two week low of $22.96 and a fifty-two week high of $80.71. The stock has a market cap of $14.74 billion, a PE ratio of 90.77, a price-to-earnings-growth ratio of 4.68 and a beta of 1.39. The firm’s 50-day simple moving average is $55.61 and its two-hundred day simple moving average is $45.66.

Doximity (NASDAQ:DOCS) last issued its earnings results on Thursday, November 7th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.02). Doximity had a return on equity of 19.79% and a net margin of 33.69%. The firm had revenue of $136.83 million during the quarter, compared to the consensus estimate of $127.05 million. During the same quarter in the prior year, the company posted $0.18 EPS. Equities research analysts predict that Doximity will post 0.88 EPS for the current year.

Insider Activity

In related news, Director Timothy S. Cabral sold 20,000 shares of Doximity stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $57.62, for a total value of $1,152,400.00. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 37.40% of the company’s stock.

Institutional Trading of Doximity

A number of hedge funds have recently bought and sold shares of the stock. Fountainhead AM LLC bought a new position in shares of Doximity during the 3rd quarter worth approximately $710,000. Penserra Capital Management LLC purchased a new stake in shares of Doximity during the third quarter valued at $2,384,000. Los Angeles Capital Management LLC increased its position in shares of Doximity by 6,242.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 650,874 shares of the company’s stock valued at $28,359,000 after acquiring an additional 640,612 shares during the period. Barclays PLC lifted its position in Doximity by 60.5% during the 3rd quarter. Barclays PLC now owns 53,401 shares of the company’s stock worth $2,327,000 after acquiring an additional 20,125 shares during the period. Finally, Oppenheimer & Co. Inc. grew its stake in Doximity by 139.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 35,635 shares of the company’s stock valued at $1,553,000 after purchasing an additional 20,740 shares during the last quarter. Hedge funds and other institutional investors 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.