Doximity (NASDAQ:DOCS) Upgraded by Leerink Partnrs to Strong-Buy Rating

Doximity (NASDAQ:DOCS) was upgraded by equities research analysts at Leerink Partnrs from a “hold” rating to a “strong-buy” rating in a note issued to investors on Friday,Zacks.com reports.

Several other research analysts have also recently commented on the stock. Piper Sandler upgraded shares of Doximity from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $31.00 to $78.00 in a research report on Friday. Stephens initiated coverage on Doximity in a research note on Friday, December 20th. They issued an “equal weight” rating and a $55.00 price target for the company. Mizuho started coverage on Doximity in a report on Wednesday, December 4th. They set a “neutral” rating and a $55.00 price target for the company. Leerink Partners raised shares of Doximity from a “market perform” rating to an “outperform” rating and increased their price target for the company from $60.00 to $90.00 in a research note on Friday. Finally, Canaccord Genuity Group upped their price target on Doximity from $60.00 to $71.00 and gave the company a “hold” rating in a research note on Friday. Eleven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Doximity presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.44.

Doximity Trading Up 35.5 %

NASDAQ DOCS opened at $78.97 on Friday. The company has a market capitalization of $14.74 billion, a PE ratio of 90.77, a price-to-earnings-growth ratio of 4.68 and a beta of 1.39. The business’s 50-day moving average price is $55.61 and its 200 day moving average price is $45.66. Doximity has a twelve month low of $22.96 and a twelve month high of $80.71.

Doximity (NASDAQ:DOCS) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.02). The company had revenue of $136.83 million during the quarter, compared to analysts’ expectations of $127.05 million. Doximity had a net margin of 33.69% and a return on equity of 19.79%. During the same period last year, the business earned $0.18 earnings per share. Equities analysts predict that Doximity will post 0.88 EPS for the current year.

Insider Activity

In other news, Director Timothy S. Cabral sold 20,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $57.62, for a total transaction of $1,152,400.00. Following the sale, the director now owns 6,360 shares of the company’s stock, valued at $366,463.20. This trade represents a 75.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 37.40% of the company’s stock.

Institutional Investors Weigh In On Doximity

Several hedge funds and other institutional investors have recently modified their holdings of DOCS. Global Retirement Partners LLC increased its stake in shares of Doximity by 468.1% in the fourth quarter. Global Retirement Partners LLC now owns 534 shares of the company’s stock worth $29,000 after purchasing an additional 440 shares in the last quarter. UMB Bank n.a. raised its holdings in Doximity by 69.1% during the fourth quarter. UMB Bank n.a. now owns 575 shares of the company’s stock valued at $31,000 after acquiring an additional 235 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Doximity by 324.2% in the third quarter. Farther Finance Advisors LLC now owns 789 shares of the company’s stock valued at $34,000 after acquiring an additional 603 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of Doximity by 49.4% in the fourth quarter. Larson Financial Group LLC now owns 756 shares of the company’s stock worth $40,000 after acquiring an additional 250 shares during the period. Finally, Morse Asset Management Inc bought a new position in shares of Doximity in the third quarter worth about $46,000. 87.19% of the stock is currently owned by hedge funds and other 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.