Doximity (NASDAQ:DOCS) PT Raised to $45.00

Doximity (NASDAQ:DOCS) had its target price boosted by Robert W. Baird from $41.00 to $45.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other analysts have also issued reports on the company. Needham & Company LLC upgraded Doximity from a hold rating to a buy rating and set a $38.00 price target for the company in a report on Friday, August 9th. Barclays boosted their price objective on shares of Doximity from $31.00 to $35.00 and gave the stock an equal weight rating in a research note on Friday, August 9th. Morgan Stanley lifted their price objective on shares of Doximity from $25.00 to $26.00 and gave the stock an underweight rating in a research report on Friday, August 9th. JPMorgan Chase & Co. raised their target price on shares of Doximity from $27.00 to $30.00 and gave the company a neutral rating in a research note on Monday, August 19th. Finally, Wells Fargo & Company lowered Doximity from an equal weight rating to an underweight rating and reduced their target price for the company from $27.00 to $19.00 in a research report on Thursday, July 18th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $32.42.

Doximity Trading Up 0.6 %

Doximity stock opened at $40.89 on Tuesday. Doximity has a 12-month low of $19.71 and a 12-month high of $41.05. The firm has a 50-day moving average price of $33.20 and a 200-day moving average price of $29.00. The firm has a market capitalization of $7.58 billion, a PE ratio of 56.79, a price-to-earnings-growth ratio of 5.15 and a beta of 1.27.

Doximity (NASDAQ:DOCS) last issued its earnings results on Thursday, August 8th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. The firm 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%. As a group, sell-side analysts predict that Doximity will post 0.8 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Anna Bryson sold 30,000 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 309,627 shares in the company, valued at approximately $10,836,945. The sale was disclosed in a filing with the SEC, which is available through this link. In other Doximity news, Director Kira Scherer Wampler sold 2,500 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $28.00, for a total value of $70,000.00. Following the completion of the transaction, the director now owns 10,258 shares in the company, valued at $287,224. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Anna Bryson sold 30,000 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was 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 in the company, valued at approximately $10,836,945. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,951 shares of company stock valued at $1,271,018. Company insiders own 39.40% of the company’s stock.

Hedge Funds Weigh In On Doximity

Large investors have recently added to or reduced their stakes in the stock. LRI Investments LLC acquired a new stake in Doximity during the 1st quarter worth $27,000. Blue Trust Inc. grew its holdings in Doximity by 621.4% in the 2nd quarter. Blue Trust Inc. now owns 1,385 shares of the company’s stock valued at $37,000 after buying an additional 1,193 shares in the last quarter. Quarry LP increased its stake in shares of Doximity by 101.2% in the 2nd quarter. Quarry LP now owns 1,616 shares of the company’s stock worth $45,000 after acquiring an additional 131,253 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Doximity during the first quarter worth about $46,000. Finally, First Horizon Advisors Inc. boosted its holdings in Doximity by 80.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,710 shares of the company’s stock valued at $48,000 after purchasing an additional 760 shares during the last quarter. 87.19% of the stock is currently owned by institutional investors and hedge funds.

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.