Doximity (NASDAQ:DOCS) Rating Increased to Neutral at JPMorgan Chase & Co.

Doximity (NASDAQ:DOCS) was upgraded by research analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a report released on Thursday, Marketbeat Ratings reports. The firm presently has a $25.00 target price on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 4.98% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Barclays started coverage on shares of Doximity in a report on Wednesday, January 3rd. They set an “equal weight” rating and a $31.00 price objective for the company. SVB Leerink initiated coverage on shares of Doximity in a research note on Monday, February 26th. They issued a “market perform” rating and a $32.00 price target on the stock. Leerink Partnrs reissued a “market perform” rating on shares of Doximity in a research report on Monday, February 26th. Truist Financial raised their price objective on Doximity from $28.00 to $29.00 and gave the company a “hold” rating in a research note on Friday, February 9th. Finally, Bank of America lifted their target price on Doximity from $29.00 to $32.00 and gave the company a “neutral” rating in a report on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $28.82.

Doximity Stock Up 1.0 %

NASDAQ DOCS opened at $23.82 on Thursday. The firm has a 50-day moving average price of $26.95 and a 200 day moving average price of $26.19. Doximity has a 52-week low of $19.71 and a 52-week high of $36.92. The stock has a market capitalization of $4.44 billion, a P/E ratio of 36.08, a P/E/G ratio of 3.01 and a beta of 1.17.

Doximity (NASDAQ:DOCS) last issued its earnings results on Thursday, February 8th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.06. Doximity had a net margin of 29.39% and a return on equity of 16.08%. The business had revenue of $135.28 million for the quarter, compared to analyst estimates of $127.46 million. On average, equities research analysts expect that Doximity will post 0.72 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Kira Scherer Wampler sold 2,500 shares of Doximity stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $26.97, for a total transaction of $67,425.00. Following the transaction, the director now directly owns 10,258 shares of the company’s stock, valued at approximately $276,658.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 39.40% of the company’s stock.

Hedge Funds Weigh In On Doximity

Large investors have recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Doximity in the 4th quarter worth $35,995,000. Vanguard Group Inc. increased its holdings in shares of Doximity by 5.9% in the third quarter. Vanguard Group Inc. now owns 11,038,475 shares of the company’s stock valued at $234,236,000 after purchasing an additional 616,157 shares during the period. AQR Capital Management LLC increased its holdings in shares of Doximity by 344.2% in the third quarter. AQR Capital Management LLC now owns 540,126 shares of the company’s stock valued at $11,461,000 after purchasing an additional 418,523 shares during the period. Edmond DE Rothschild Holding S.A. increased its holdings in shares of 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. Finally, Fort Washington Investment Advisors Inc. OH acquired a new stake in Doximity during the fourth quarter worth about $6,518,000. Institutional investors own 87.19% of the company’s stock.

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.