Doximity (NASDAQ:DOCS) PT Raised to $35.00

Doximity (NASDAQ:DOCS) had its target price hoisted by equities researchers at Barclays from $31.00 to $35.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s target price suggests a potential downside of 1.69% from the company’s previous close.

A number of other research analysts have also issued reports on the stock. William Blair reiterated an “outperform” rating on shares of Doximity in a research note on Friday, May 17th. Morgan Stanley raised their target price on shares of Doximity from $25.00 to $26.00 and gave the company an “underweight” rating in a research note on Friday. Evercore ISI raised their target price on shares of Doximity from $28.00 to $29.00 and gave the company an “in-line” rating in a research note on Friday, May 17th. Needham & Company LLC upgraded 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. Finally, JPMorgan Chase & Co. upgraded shares of Doximity from an “underweight” rating to a “neutral” rating and set a $25.00 price target on the stock in a research report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Doximity currently has a consensus rating of “Hold” and a consensus target price of $29.64.

Doximity Stock Up 38.7 %

Shares of DOCS traded up $9.94 during mid-day trading on Friday, hitting $35.60. 11,796,487 shares of the company’s stock were exchanged, compared to its average volume of 1,711,501. The firm has a fifty day moving average of $28.00 and a two-hundred day moving average of $27.32. Doximity has a twelve month low of $19.71 and a twelve month high of $35.79. The stock has a market cap of $6.60 billion, a price-to-earnings ratio of 49.44, a P/E/G ratio of 5.12 and a beta of 1.22.

Doximity (NASDAQ:DOCS) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.16 by $0.06. Doximity had a net margin of 31.04% and a return on equity of 17.44%. The company had revenue of $126.68 million for the quarter, compared to analyst estimates of $119.88 million. On average, equities analysts predict that Doximity will post 0.74 earnings per share for the current year.

Insider Activity at Doximity

In other Doximity news, insider Craig Overpeck sold 1,500 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $23.85, for a total value of $35,775.00. Following the completion of the transaction, the insider now directly owns 108,609 shares of the company’s stock, valued at $2,590,324.65. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Kira Scherer Wampler sold 2,500 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $27.22, for a total value of $68,050.00. Following the transaction, the director now owns 10,258 shares in the company, valued at $279,222.76. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Craig Overpeck sold 1,500 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $23.85, for a total value of $35,775.00. Following the sale, the insider now directly owns 108,609 shares of the company’s stock, valued at $2,590,324.65. The disclosure for this sale can be found here. Insiders sold 81,951 shares of company stock valued at $2,574,843 in the last ninety days. Insiders own 39.40% of the company’s stock.

Institutional Trading of Doximity

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. William Blair Investment Management LLC grew its position in shares of Doximity by 15.8% in the 2nd quarter. William Blair Investment Management LLC now owns 6,404,068 shares of the company’s stock valued at $179,122,000 after purchasing an additional 873,682 shares during the period. Swedbank AB bought a new stake in shares of Doximity during the 1st quarter worth approximately $91,673,000. Janus Henderson Group PLC raised its stake in shares of Doximity by 33.5% during the 1st quarter. Janus Henderson Group PLC now owns 2,474,695 shares of the company’s stock worth $66,594,000 after purchasing an additional 621,590 shares in the last quarter. Edmond DE Rothschild Holding S.A. raised its stake in shares of 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 worth $64,555,000 after purchasing an additional 301,290 shares in the last quarter. Finally, Capital World Investors raised its stake 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 worth $46,143,000 after purchasing an additional 1,225,707 shares in the last quarter. 87.19% of the stock is owned by institutional investors.

Doximity Company Profile

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.