Doximity (NASDAQ:DOCS) Price Target Raised to $45.00

by · The Markets Daily

Doximity (NASDAQ:DOCS – Free Report) had its price target increased by Robert W. Baird from $41.00 to $45.00 in a research report released on Tuesday, Benzinga reports. They currently have an outperform rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Barclays increased their price objective on shares of Doximity from $31.00 to $35.00 and gave the stock an equal weight rating in a research report on Friday, August 9th. Needham & Company LLC raised shares of Doximity from a hold rating to a buy rating and set a $38.00 price target on the stock in a research report on Friday, August 9th. Bank of America lifted their price objective on Doximity from $29.00 to $32.00 and gave the stock a neutral rating in a research report on Friday, August 9th. Wells Fargo & Company lowered Doximity from an equal weight rating to an underweight rating and cut their target price for the company from $27.00 to $19.00 in a research report on Thursday, July 18th. Finally, Morgan Stanley raised their target price on Doximity from $25.00 to $26.00 and gave the stock an underweight rating in a research note on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $32.42.

Read Our Latest Research Report on Doximity

Doximity Stock Up 1.4 %

Shares of NASDAQ:DOCS opened at $40.63 on Tuesday. The business has a fifty day simple moving average of $32.93 and a 200 day simple moving average of $28.91. Doximity has a 12-month low of $19.71 and a 12-month high of $40.99. The firm has a market cap of $7.53 billion, a P/E ratio of 56.43, a P/E/G ratio of 5.15 and a beta of 1.27.

Doximity (NASDAQ:DOCS – Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The company had revenue of $126.68 million for the quarter, compared to analyst estimates of $119.88 million. Doximity had a return on equity of 19.26% and a net margin of 32.53%. As a group, equities research analysts expect that Doximity will post 0.8 EPS for the current year.

Insiders Place Their Bets

In other news, Director Watkin Phoebe L. Yang sold 1,940 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $28.22, for a total transaction of $54,746.80. Following the completion of 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 legal filing with the SEC, which is available at this hyperlink. In related news, Director Watkin Phoebe L. Yang sold 1,940 shares of Doximity stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $28.22, for a total transaction of $54,746.80. Following the transaction, the director now owns 12,269 shares of the company’s stock, valued at $346,231.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Anna Bryson sold 30,000 shares of the 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,951 shares of company stock worth $1,271,018. Insiders own 39.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. LRI Investments LLC purchased a new stake in Doximity in the 1st quarter valued at about $27,000. Blue Trust Inc. increased its position in shares of Doximity by 621.4% during the second quarter. Blue Trust Inc. now owns 1,385 shares of the company’s stock valued at $37,000 after acquiring an additional 1,193 shares during the last quarter. Quarry LP lifted its holdings in Doximity by 101.2% during the second 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 period. DekaBank Deutsche Girozentrale purchased a new position in Doximity in the first quarter worth $46,000. Finally, First Horizon Advisors Inc. grew its stake 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 period. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

Doximity Company Profile

(Get Free Report)

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.

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