Doximity (NASDAQ:DOCS) Price Target Raised to $75.00

Doximity (NASDAQ:DOCS) had its price objective raised by Needham & Company LLC from $67.00 to $75.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also weighed in on the company. BTIG Research upgraded Doximity from a “neutral” rating to a “buy” rating and set a $80.00 price target on the stock in a research note on Monday, June 2nd. Wells Fargo & Company boosted their price target on Doximity from $55.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Monday, August 4th. Morgan Stanley dropped their price target on Doximity from $71.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. William Blair restated an “outperform” rating on shares of Doximity in a research note on Friday, May 16th. Finally, Evercore ISI upgraded Doximity from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $50.00 to $70.00 in a research note on Wednesday, July 9th. Ten equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $66.68.

Doximity Stock Performance

Shares of Doximity stock opened at $66.71 on Friday. The company has a market capitalization of $12.53 billion, a PE ratio of 66.71, a P/E/G ratio of 4.10 and a beta of 1.36. The company has a 50-day simple moving average of $59.21 and a two-hundred day simple moving average of $60.06. Doximity has a one year low of $32.58 and a one year high of $85.21.

Doximity (NASDAQ:DOCS) last announced its earnings results on Thursday, August 7th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.05. Doximity had a net margin of 36.60% and a return on equity of 21.75%. Doximity’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 earnings per share. On average, equities analysts predict that Doximity will post 0.99 earnings per share for the current fiscal year.

Insider Activity at Doximity

In other Doximity news, Director Kira Scherer Wampler sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $57.09, for a total value of $114,180.00. Following the completion of the transaction, the director directly owned 16,618 shares of the company’s stock, valued at approximately $948,721.62. The trade was a 10.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Timothy S. Cabral sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $60.00, for a total value of $600,000.00. Following the completion of the transaction, the director directly owned 6,360 shares of the company’s stock, valued at $381,600. The trade was a 61.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,000 shares of company stock worth $1,825,940 over the last quarter. Insiders own 31.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Ballentine Partners LLC acquired a new position in Doximity in the first quarter valued at approximately $201,000. Wealth Enhancement Advisory Services LLC lifted its holdings in Doximity by 196.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,570 shares of the company’s stock valued at $787,000 after acquiring an additional 8,995 shares during the period. Range Financial Group LLC acquired a new position in Doximity in the first quarter valued at approximately $916,000. New York State Teachers Retirement System lifted its holdings in Doximity by 10.9% in the first quarter. New York State Teachers Retirement System now owns 113,145 shares of the company’s stock valued at $6,566,000 after acquiring an additional 11,078 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in Doximity by 3.3% in the fourth quarter. Wells Fargo & Company MN now owns 368,941 shares of the company’s stock valued at $19,698,000 after acquiring an additional 11,811 shares during the period. 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.