Doximity (NASDAQ:DOCS) PT Raised to $45.00

Doximity (NASDAQ:DOCS) had its price target raised by equities researchers at Robert W. Baird from $41.00 to $45.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price target suggests a potential upside of 12.33% from the company’s current price.

Several other research analysts have also recently weighed in on DOCS. Morgan Stanley upped their price target on shares of Doximity from $25.00 to $26.00 and gave the stock an “underweight” rating in a report on Friday, August 9th. Truist Financial restated a “hold” rating and issued a $35.00 target price (up from $31.00) on shares of Doximity in a research note on Wednesday, August 14th. Evercore ISI lifted their price target on Doximity from $29.00 to $34.00 and gave the company an “in-line” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. upped their price objective on shares of Doximity from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Finally, Barclays lifted their target price on shares of Doximity from $31.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Doximity currently has a consensus rating of “Hold” and a consensus price target of $32.42.

Doximity Stock Down 0.2 %

Shares of NASDAQ DOCS opened at $40.06 on Tuesday. The company has a market cap of $7.43 billion, a P/E ratio of 55.64, a P/E/G ratio of 5.15 and a beta of 1.27. Doximity has a 52 week low of $19.71 and a 52 week high of $40.99. The business has a 50-day simple moving average of $32.93 and a two-hundred day simple moving average of $28.91.

Doximity (NASDAQ:DOCS) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. The company had revenue of $126.68 million during the quarter, compared to analyst estimates of $119.88 million. Doximity had a net margin of 32.53% and a return on equity of 19.26%. Equities research analysts anticipate that Doximity will post 0.8 EPS for the current 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 value of $25,820.94. Following the transaction, the director now owns 11,258 shares in the company, valued at approximately $287,529.32. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Doximity news, Director Watkin Phoebe L. Yang sold 1,940 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $28.22, for a total value of $54,746.80. Following the completion of the sale, the director now owns 12,269 shares in the company, valued at $346,231.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Watkin Phoebe L. Yang sold 1,011 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was 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 owns 11,258 shares in the company, valued at approximately $287,529.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,951 shares of company stock valued at $1,271,018. Corporate insiders own 39.40% of the company’s stock.

Institutional Investors Weigh In On Doximity

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Doximity in the fourth quarter valued at about $35,995,000. Blair William & Co. IL increased its holdings in Doximity by 31.7% during the 1st quarter. Blair William & Co. IL now owns 90,600 shares of the company’s stock valued at $2,438,000 after purchasing an additional 21,787 shares during the period. Edmond DE Rothschild Holding S.A. raised its position in Doximity by 15.1% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 2,302,240 shares of the company’s stock valued at $64,555,000 after purchasing an additional 301,290 shares during the last quarter. Pinebridge Investments L.P. purchased a new stake in Doximity in the 4th quarter worth approximately $2,845,000. Finally, Acadian Asset Management LLC grew its position in shares of Doximity by 128.7% in the 1st quarter. Acadian Asset Management LLC now owns 96,442 shares of the company’s stock worth $2,590,000 after buying an additional 54,281 shares during the last quarter. 87.19% of the stock is currently owned by institutional investors.

About Doximity

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.