Doximity (NASDAQ:DOCS) Price Target Raised to $33.00

Doximity (NASDAQ:DOCS) had its price objective lifted by Morgan Stanley from $26.00 to $33.00 in a research report sent to investors on Wednesday, Benzinga reports. Morgan Stanley currently has an underweight rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Robert W. Baird upped their price objective on Doximity from $41.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 17th. JPMorgan Chase & Co. increased their price target on Doximity from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Canaccord Genuity Group increased their price target on Doximity from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Baird R W upgraded Doximity to a “strong-buy” rating in a research note on Tuesday, September 17th. Finally, Needham & Company LLC upgraded Doximity from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research note on Friday, August 9th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Doximity has a consensus rating of “Hold” and a consensus price target of $36.42.

Doximity Stock Performance

Shares of Doximity stock opened at $42.35 on Wednesday. The business’s 50 day simple moving average is $40.66 and its 200 day simple moving average is $32.38. Doximity has a 52-week low of $20.28 and a 52-week high of $44.88. The firm has a market cap of $7.86 billion, a PE ratio of 52.94, a P/E/G ratio of 5.02 and a beta of 1.30.

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

Insider Buying and Selling at Doximity

In other Doximity 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 value of $1,050,000.00. Following the transaction, the chief financial officer now directly owns 309,627 shares of the company’s stock, valued at $10,836,945. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, 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 transaction of $25,820.94. Following the sale, the director now directly owns 11,258 shares of the company’s stock, valued at approximately $287,529.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 sale, the chief financial officer now directly owns 309,627 shares in the company, valued at approximately $10,836,945. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 37.40% of the company’s stock.

Institutional Trading of Doximity

Several large investors have recently modified their holdings of the stock. William Blair Investment Management LLC acquired a new stake in Doximity in the first quarter valued at about $148,823,000. Swedbank AB acquired a new stake in Doximity in the first quarter valued at about $91,673,000. Capital World Investors boosted its stake in Doximity by 250.7% in the first quarter. Capital World Investors now owns 1,714,707 shares of the company’s stock valued at $46,143,000 after buying an additional 1,225,707 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Doximity by 33.5% in the first quarter. Janus Henderson Group PLC now owns 2,474,695 shares of the company’s stock valued at $66,594,000 after buying an additional 621,590 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its stake in 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 buying an additional 387,200 shares in the last quarter. 87.19% of the stock is owned by institutional investors and hedge funds.

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.