Jefferies Financial Group Trims Doximity (NASDAQ:DOCS) Target Price to $46.00

Doximity (NASDAQ:DOCSGet Rating) had its price target decreased by equities research analysts at Jefferies Financial Group from $78.00 to $46.00 in a report issued on Wednesday, Briefing.com reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s target price suggests a potential upside of 45.80% from the stock’s previous close.

Several other research analysts also recently issued reports on DOCS. Raymond James reduced their price objective on Doximity from $60.00 to $40.00 in a report on Wednesday. Guggenheim reduced their price objective on Doximity from $70.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday. Needham & Company LLC reduced their price objective on Doximity from $70.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday. Morgan Stanley reduced their price objective on Doximity from $55.00 to $35.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, Bank of America cut their price target on Doximity from $55.00 to $36.00 and set a “neutral” rating on the stock in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $53.08.

Shares of DOCS traded down $2.22 on Wednesday, hitting $31.55. The company’s stock had a trading volume of 184,926 shares, compared to its average volume of 1,916,498. Doximity has a fifty-two week low of $27.06 and a fifty-two week high of $107.79. The company has a 50 day moving average price of $45.34 and a 200 day moving average price of $52.15.

Doximity (NASDAQ:DOCSGet Rating) last announced its earnings results on Tuesday, May 17th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.15 by $0.06. Doximity had a return on equity of 20.38% and a net margin of 39.15%. The business had revenue of $93.65 million for the quarter, compared to the consensus estimate of $90.17 million. Doximity’s revenue was up 40.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Doximity will post 0.63 EPS for the current fiscal year.

In other Doximity news, Director Gilbert H. Kliman sold 826 shares of the stock in a transaction dated Friday, February 25th. The stock was sold at an average price of $59.00, for a total transaction of $48,734.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kira Scherer Wampler sold 2,200 shares of the stock in a transaction dated Friday, April 1st. The stock was sold at an average price of $53.10, for a total value of $116,820.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,200 shares of company stock valued at $1,801,924.

Several institutional investors have recently bought and sold shares of DOCS. Royal Bank of Canada acquired a new position in shares of Doximity during the 2nd quarter worth about $87,000. Morgan Stanley acquired a new stake in Doximity in the 2nd quarter valued at about $59,066,000. Commonwealth Equity Services LLC acquired a new stake in Doximity in the 3rd quarter valued at about $202,000. Raymond James & Associates acquired a new stake in Doximity during the third quarter worth approximately $298,000. Finally, Advisor Group Holdings Inc. lifted its position in Doximity by 22,143.4% during the third quarter. Advisor Group Holdings Inc. now owns 22,021 shares of the company’s stock worth $1,776,000 after acquiring an additional 21,922 shares during the last quarter. Institutional investors own 67.88% of the company’s stock.

About Doximity (Get Rating)

Doximity, Inc operates a cloud-based digital platform for medical professionals in the United States. The company's cloud-based 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.

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