Doximity (NASDAQ:DOCS) PT Raised to $23.00

Doximity (NASDAQ:DOCS) had its price target boosted by analysts at Piper Sandler from $21.00 to $23.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price target points to a potential downside of 3.48% from the company’s previous close.

A number of other equities research analysts also recently issued reports on DOCS. Morgan Stanley boosted their target price on shares of Doximity from $21.00 to $25.00 and gave the company an “underweight” rating in a report on Friday. Needham & Company LLC cut shares of Doximity from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Wells Fargo & Company lowered their price target on shares of Doximity from $37.00 to $25.00 and set an “equal weight” rating for the company in a research report on Thursday, August 10th. Raymond James decreased their target price on shares of Doximity from $40.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday, August 9th. Finally, Truist Financial reduced their price objective on shares of Doximity from $33.00 to $28.00 and set a “hold” rating for the company in a research report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $28.40.

Doximity Price Performance

NASDAQ:DOCS opened at $23.83 on Friday. The firm has a 50 day simple moving average of $21.62 and a 200-day simple moving average of $28.02. The firm has a market cap of $4.64 billion, a PE ratio of 41.09, a P/E/G ratio of 3.87 and a beta of 1.04. Doximity has a 1-year low of $19.71 and a 1-year high of $40.12.

Doximity (NASDAQ:DOCS) last posted its quarterly earnings data on Thursday, November 9th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.05. Doximity had a net margin of 27.47% and a return on equity of 13.93%. The business had revenue of $113.61 million during the quarter, compared to analyst estimates of $109.19 million. As a group, sell-side analysts expect that Doximity will post 0.6 earnings per share for the current fiscal year.

Institutional Trading of Doximity

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its holdings in Doximity by 96.0% in the second quarter. BlackRock Inc. now owns 10,688,411 shares of the company’s stock worth $363,620,000 after buying an additional 5,235,837 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Doximity by 81.2% in the first quarter. Vanguard Group Inc. now owns 7,501,908 shares of the company’s stock worth $390,774,000 after acquiring an additional 3,362,575 shares during the last quarter. Baillie Gifford & Co. grew its stake in shares of Doximity by 291.6% in the first quarter. Baillie Gifford & Co. now owns 4,388,725 shares of the company’s stock worth $142,107,000 after acquiring an additional 3,268,078 shares during the last quarter. Clearbridge Investments LLC lifted its position in Doximity by 559.5% in the first quarter. Clearbridge Investments LLC now owns 2,682,876 shares of the company’s stock worth $139,751,000 after purchasing an additional 2,276,056 shares during the period. Finally, State Street Corp lifted its position in Doximity by 83.5% in the second quarter. State Street Corp now owns 3,176,208 shares of the company’s stock worth $108,055,000 after purchasing an additional 1,444,979 shares during the period. 54.65% of the stock is 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.