Doximity (NASDAQ:DOCS) Upgraded to Strong-Buy by Baird R W

Baird R W upgraded shares of Doximity (NASDAQ:DOCS) to a strong-buy rating in a research note published on Tuesday morning, Zacks.com reports.

DOCS has been the subject of a number of other research reports. Evercore ISI raised their price objective on Doximity from $29.00 to $34.00 and gave the company an in-line rating in a research note on Friday, August 9th. JPMorgan Chase & Co. lifted their price target on shares of Doximity from $27.00 to $30.00 and gave the company a neutral rating in a research report on Monday, August 19th. Bank of America upped their price objective on shares of Doximity from $29.00 to $32.00 and gave the stock a neutral rating in a report on Friday, August 9th. Barclays lifted their price objective on shares of Doximity from $31.00 to $35.00 and gave the company an equal weight rating in a report on Friday, August 9th. Finally, Truist Financial restated a hold rating and issued a $35.00 target price (up previously from $31.00) on shares of Doximity in a report on Wednesday, August 14th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus 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 company has a market capitalization of $7.45 billion, a PE ratio of 55.78, a PEG ratio of 5.15 and a beta of 1.27. The firm’s fifty day moving average is $32.66 and its 200 day moving average is $28.84. Doximity has a 12-month low of $19.71 and a 12-month high of $40.92.

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. The firm had revenue of $126.68 million for 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%. Sell-side analysts expect that Doximity will post 0.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Watkin Phoebe L. Yang sold 1,940 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly owns 12,269 shares of the company’s stock, valued at approximately $346,231.18. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Anna Bryson sold 30,000 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $35.00, for a total transaction of $1,050,000.00. Following the transaction, the chief financial officer now owns 309,627 shares of the company’s stock, valued at approximately $10,836,945. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Watkin Phoebe L. Yang sold 1,940 shares of Doximity stock in a transaction dated 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 sale, the director now directly owns 12,269 shares of the company’s stock, valued at approximately $346,231.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,951 shares of company stock valued at $1,271,018. Insiders own 39.40% of the company’s stock.

Institutional Trading of Doximity

Hedge funds and other institutional investors have recently modified their holdings of the business. Cim LLC bought a new position in Doximity in the 2nd quarter worth approximately $1,955,000. Sanctuary Advisors LLC bought a new position in shares of Doximity in the second quarter worth $270,000. Clearbridge Investments LLC grew its position in shares of Doximity by 7.1% in the second quarter. Clearbridge Investments LLC now owns 5,853,035 shares of the company’s stock valued at $163,709,000 after purchasing an additional 387,200 shares in the last quarter. Quarry LP raised its stake in shares of Doximity by 101.2% during the 2nd quarter. Quarry LP now owns 1,616 shares of the company’s stock valued at $45,000 after purchasing an additional 131,253 shares during the period. Finally, Creative Planning lifted its holdings in Doximity by 20.1% during the 2nd quarter. Creative Planning now owns 19,433 shares of the company’s stock worth $544,000 after purchasing an additional 3,251 shares in the last quarter. Institutional investors own 87.19% of the company’s stock.

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.