Doximity (NASDAQ:DOCS) Upgraded to “Overweight” by Barclays

Barclays upgraded shares of Doximity (NASDAQ:DOCS) from an equal weight rating to an overweight rating in a report issued on Tuesday, MarketBeat reports. Barclays currently has $52.00 target price on the stock, up from their previous target price of $35.00.

Several other brokerages have also recently issued reports on DOCS. JPMorgan Chase & Co. lifted their target price on shares of Doximity from $27.00 to $30.00 and gave the stock a neutral rating in a research note on Monday, August 19th. Bank of America upped their price objective on shares of Doximity from $32.00 to $45.00 and gave the company a neutral rating in a research note on Monday, October 7th. Evercore ISI increased their price objective on shares of Doximity from $34.00 to $45.00 and gave the company an in-line rating in a report on Tuesday, October 8th. Wells Fargo & Company cut Doximity from an equal weight rating to an underweight rating and lowered their target price for the stock from $27.00 to $19.00 in a report on Thursday, July 18th. Finally, Baird R W raised Doximity to a strong-buy rating in a report on Tuesday, September 17th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Doximity presently has an average rating of Hold and a consensus price target of $35.83.

Doximity Stock Up 4.5 %

Shares of NASDAQ DOCS opened at $43.83 on Tuesday. The firm has a market cap of $8.13 billion, a price-to-earnings ratio of 60.88, a price-to-earnings-growth ratio of 5.29 and a beta of 1.29. The company’s 50-day simple moving average is $38.60 and its 200-day simple moving average is $30.93. Doximity has a 52-week low of $19.89 and a 52-week high of $44.88.

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

Insider Transactions at Doximity

In other Doximity news, CFO Anna Bryson sold 30,000 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $35.00, for a total value of $1,050,000.00. Following the transaction, the chief financial officer now owns 309,627 shares of the company’s stock, valued at $10,836,945. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Kira Scherer Wampler sold 2,500 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $28.18, for a total transaction of $70,450.00. Following the completion of the transaction, the director now directly owns 10,258 shares in the company, valued at $289,070.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Anna Bryson sold 30,000 shares of Doximity stock in a transaction on Friday, August 9th. The shares were 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 $10,836,945. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,451 shares of company stock worth $1,201,018. 39.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Doximity

Hedge funds and other institutional investors have recently bought and sold shares of the company. LRI Investments LLC purchased a new stake in Doximity during the first quarter worth about $27,000. Blue Trust Inc. increased its stake in Doximity by 621.4% during the 2nd quarter. Blue Trust Inc. now owns 1,385 shares of the company’s stock worth $37,000 after buying an additional 1,193 shares during the period. GAMMA Investing LLC increased its stake in Doximity by 40.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,439 shares of the company’s stock worth $63,000 after buying an additional 412 shares during the period. Quarry LP lifted its holdings in Doximity by 101.2% during the 2nd quarter. Quarry LP now owns 1,616 shares of the company’s stock worth $45,000 after buying an additional 131,253 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in Doximity in the 1st quarter valued at approximately $46,000. 87.19% of the stock is currently owned by hedge funds and other 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.