Baird R W Upgrades Doximity (NASDAQ:DOCS) to “Strong-Buy”

Doximity (NASDAQ:DOCS) was upgraded by research analysts at Baird R W to a “strong-buy” rating in a report released on Tuesday, Zacks.com reports.

A number of other analysts have also weighed in on the stock. Robert W. Baird increased their target price on shares of Doximity from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday. JPMorgan Chase & Co. lifted 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. Evercore ISI upped their target price on Doximity from $29.00 to $34.00 and gave the company an “in-line” rating in a report on Friday, August 9th. Truist Financial reiterated a “hold” rating and issued a $35.00 price target (up previously from $31.00) on shares of Doximity in a report on Wednesday, August 14th. Finally, Needham & Company LLC raised shares of Doximity from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research report on Friday, August 9th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Doximity presently has an average rating of “Hold” and a consensus price target of $32.42.

Doximity Stock Up 1.8 %

Doximity stock opened at $40.16 on Tuesday. The firm has a fifty day simple moving average of $32.66 and a two-hundred day simple moving average of $28.84. Doximity has a twelve month low of $19.71 and a twelve month high of $40.92. The company has a market capitalization of $7.45 billion, a PE ratio of 55.78, a P/E/G ratio of 5.15 and a beta of 1.27.

Doximity (NASDAQ:DOCS) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.22 earnings per share for the quarter, beating 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 firm had revenue of $126.68 million during the quarter, compared to the consensus estimate of $119.88 million. As a group, equities analysts expect that Doximity will post 0.8 earnings per share for the current fiscal year.

Insider Activity at Doximity

In other Doximity news, Director Watkin Phoebe L. Yang sold 1,940 shares of the business’s stock in a transaction 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 sale, the director now directly owns 12,269 shares of the company’s stock, valued at $346,231.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Doximity news, Director Kira Scherer Wampler sold 2,500 shares of the 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 sale, the director now directly owns 10,258 shares in the company, valued at approximately $289,070.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Watkin Phoebe L. Yang sold 1,940 shares of the business’s stock in a transaction 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 transaction, the director now owns 12,269 shares of the company’s stock, valued at approximately $346,231.18. The disclosure for this sale can be found here. Insiders sold a total of 37,951 shares of company stock valued at $1,271,018 in the last 90 days. Corporate insiders own 39.40% of the company’s stock.

Institutional Investors Weigh In On Doximity

Institutional investors have recently modified their holdings of the business. William Blair Investment Management LLC purchased a new position in Doximity in the 1st quarter worth about $148,823,000. Swedbank AB purchased a new stake in Doximity in the first quarter worth approximately $91,673,000. Norges Bank purchased a new stake in Doximity during the 4th quarter valued at $35,995,000. Capital World Investors lifted its holdings in shares of Doximity by 250.7% during the 1st quarter. Capital World Investors now owns 1,714,707 shares of the company’s stock valued at $46,143,000 after buying an additional 1,225,707 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in shares of Doximity by 33.5% in the 1st quarter. Janus Henderson Group PLC now owns 2,474,695 shares of the company’s stock worth $66,594,000 after buying an additional 621,590 shares during the last quarter. 87.19% of the stock is 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.