Doximity (NASDAQ:DOCS) Price Target Raised to $40.00

Doximity (NASDAQ:DOCS) had its price objective increased by Canaccord Genuity Group from $37.00 to $40.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages have also issued reports on DOCS. Needham & Company LLC raised Doximity from a hold rating to a buy rating and set a $38.00 target price for the company in a research note on Friday, August 9th. Bank of America boosted their price objective on Doximity from $29.00 to $32.00 and gave the company a neutral rating in a research report on Friday, August 9th. Barclays boosted their price objective on Doximity from $31.00 to $35.00 and gave the company an equal weight rating in a research report on Friday, August 9th. JPMorgan Chase & Co. boosted their price objective on Doximity from $27.00 to $30.00 and gave the company a neutral rating in a research report on Monday, August 19th. Finally, Evercore ISI boosted their price objective on Doximity from $29.00 to $34.00 and gave the company an in-line rating in a research report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Doximity presently has a consensus rating of Hold and a consensus price target of $31.27.

Doximity Price Performance

Shares of DOCS opened at $36.48 on Tuesday. The firm has a market cap of $6.76 billion, a P/E ratio of 50.67, a P/E/G ratio of 5.12 and a beta of 1.22. The stock has a 50 day simple moving average of $29.21 and a two-hundred day simple moving average of $27.79. Doximity has a 1 year low of $19.71 and a 1 year high of $37.25.

Insider Activity at Doximity

In related news, Director Watkin Phoebe L. Yang sold 1,011 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $25.54, for a total transaction of $25,820.94. Following the completion of the transaction, the director now owns 11,258 shares in the company, valued at $287,529.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Doximity news, CFO Anna Bryson sold 30,000 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer now owns 309,627 shares in the company, valued at $10,836,945. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Watkin Phoebe L. Yang sold 1,011 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $25.54, for a total value of $25,820.94. Following the completion of the transaction, the director now owns 11,258 shares of the company’s stock, valued at approximately $287,529.32. The disclosure for this sale can be found here. Insiders sold a total of 77,951 shares of company stock worth $2,471,018 over the last quarter. 39.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Doximity

Institutional investors have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. grew its stake in shares of Doximity by 111.3% in the fourth quarter. First Horizon Advisors Inc. now owns 995 shares of the company’s stock worth $28,000 after acquiring an additional 524 shares during the last quarter. LRI Investments LLC purchased a new stake in shares of Doximity in the first quarter worth $27,000. Blue Trust Inc. grew its stake in shares of Doximity by 621.4% in the second quarter. Blue Trust Inc. now owns 1,385 shares of the company’s stock worth $37,000 after acquiring an additional 1,193 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of Doximity in the fourth quarter worth $40,000. Finally, Quarry LP grew its stake in shares of Doximity by 101.2% in 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 last quarter. Institutional investors own 87.19% of the company’s stock.

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.