Robert W. Baird Boosts Doximity (NASDAQ:DOCS) Price Target to $45.00

Doximity (NASDAQ:DOCS) had its price objective hoisted by Robert W. Baird from $41.00 to $45.00 in a research report sent to investors on Tuesday, Benzinga reports. The firm currently has an outperform rating on the stock.

DOCS has been the topic of a number of other research reports. Wells Fargo & Company downgraded Doximity from an equal weight rating to an underweight rating and lowered their price target for the stock from $27.00 to $19.00 in a research report on Thursday, July 18th. Bank of America boosted their target price on Doximity from $29.00 to $32.00 and gave the stock a neutral rating in a report on Friday, August 9th. Canaccord Genuity Group raised their price target on Doximity from $37.00 to $40.00 and gave the company a buy rating in a report on Tuesday, August 20th. Morgan Stanley increased their price objective on shares of Doximity from $25.00 to $26.00 and gave the company an underweight rating in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Doximity from $27.00 to $30.00 and gave the stock a neutral rating in a report on Monday, August 19th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $32.42.

Doximity Stock Up 1.4 %

NASDAQ:DOCS opened at $40.63 on Tuesday. Doximity has a twelve month low of $19.71 and a twelve month high of $40.99. The firm has a market capitalization 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 stock’s 50 day moving average price is $32.93 and its two-hundred day moving average price is $28.91.

Doximity (NASDAQ:DOCS) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.06. Doximity had a net margin of 32.53% and a return on equity of 19.26%. The firm had revenue of $126.68 million for the quarter, compared to analyst estimates of $119.88 million. As a group, analysts anticipate that Doximity will post 0.8 earnings per share for the current year.

Insider Activity at Doximity

In other Doximity news, CFO Anna Bryson sold 30,000 shares of the firm’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 in the company, valued at approximately $10,836,945. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Kira Scherer Wampler sold 2,500 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $28.00, for a total transaction of $70,000.00. Following the sale, the director now owns 10,258 shares in the company, valued at approximately $287,224. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $1,050,000.00. Following the sale, the chief financial officer now owns 309,627 shares of the company’s stock, valued at $10,836,945. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,951 shares of company stock worth $1,271,018. Company insiders own 39.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. grew its holdings in shares of Doximity by 21.3% during the 4th quarter. Victory Capital Management Inc. now owns 32,863 shares of the company’s stock valued at $921,000 after purchasing an additional 5,780 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Doximity during the 4th quarter valued at $202,000. Vanguard Personalized Indexing Management LLC bought a new stake in Doximity during the 4th quarter worth $391,000. Norges Bank acquired a new position in Doximity in the 4th quarter worth about $35,995,000. Finally, Trexquant Investment LP boosted its stake in shares of Doximity by 58.9% during the fourth quarter. Trexquant Investment LP now owns 99,966 shares of the company’s stock valued at $2,803,000 after purchasing an additional 37,069 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.