Doximity (NASDAQ:DOCS) Hits New 12-Month High Following Analyst Upgrade

Shares of Doximity, Inc. (NASDAQ:DOCS) hit a new 52-week high on Wednesday after Baird R W upgraded the stock to a strong-buy rating. The company traded as high as $40.99 and last traded at $40.30, with a volume of 863782 shares changing hands. The stock had previously closed at $40.16.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. raised their target price on shares of Doximity from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Truist Financial reissued a “hold” rating and set a $35.00 price objective (up from $31.00) on shares of Doximity in a research note on Wednesday, August 14th. Evercore ISI upped their target price on Doximity from $29.00 to $34.00 and gave the company an “in-line” rating in a research note on Friday, August 9th. Canaccord Genuity Group raised their price target on Doximity from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Finally, Needham & Company LLC raised Doximity from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Doximity presently has an average rating of “Hold” and a consensus price target of $32.42.

Insider Buying and Selling at Doximity

In other news, Director Watkin Phoebe L. Yang sold 1,940 shares of the 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 transaction, the director now directly owns 12,269 shares in the company, valued at approximately $346,231.18. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Watkin Phoebe L. Yang sold 1,940 shares of the company’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 in the company, valued at approximately $346,231.18. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 directly owns 11,258 shares in the company, valued at $287,529.32. The disclosure for this sale can be found here. Insiders sold 37,951 shares of company stock worth $1,271,018 in the last 90 days. 39.40% of the stock is owned by company insiders.

Institutional Trading of Doximity

Institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Doximity in the fourth quarter worth $35,995,000. Blair William & Co. IL raised its position in Doximity by 31.7% in the first quarter. Blair William & Co. IL now owns 90,600 shares of the company’s stock valued at $2,438,000 after purchasing an additional 21,787 shares during the period. Edmond DE Rothschild Holding S.A. raised its position in Doximity by 15.1% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 2,302,240 shares of the company’s stock valued at $64,555,000 after purchasing an additional 301,290 shares during the period. Pinebridge Investments L.P. acquired a new position in shares of Doximity during the fourth quarter worth about $2,845,000. Finally, Acadian Asset Management LLC boosted its position in shares of Doximity by 128.7% in the first quarter. Acadian Asset Management LLC now owns 96,442 shares of the company’s stock worth $2,590,000 after buying an additional 54,281 shares during the period. Institutional investors and hedge funds own 87.19% of the company’s stock.

Doximity Stock Up 1.4 %

The firm has a market cap of $7.53 billion, a price-to-earnings ratio of 56.43, a price-to-earnings-growth ratio of 5.15 and a beta of 1.27. The business has a 50 day moving average price of $32.93 and a 200-day moving average price of $28.91.

Doximity (NASDAQ:DOCS) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.06. The company had revenue of $126.68 million during the quarter, compared to the consensus estimate of $119.88 million. Doximity had a net margin of 32.53% and a return on equity of 19.26%. Research analysts anticipate that Doximity, Inc. will post 0.8 earnings per share for the current fiscal year.

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.