Doximity (NASDAQ:DOCS) Sets New 12-Month High After Analyst Upgrade

Doximity, Inc. (NASDAQ:DOCS) shares reached a new 52-week high on Monday after Bank of America raised their price target on the stock from $32.00 to $45.00. Bank of America currently has a neutral rating on the stock. Doximity traded as high as $44.57 and last traded at $44.57, with a volume of 6981 shares traded. The stock had previously closed at $43.83.

Other equities research analysts have also recently issued research reports about the company. Robert W. Baird boosted their target price on Doximity from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, September 17th. Barclays upped their price target on shares of Doximity from $31.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Evercore ISI increased their target price on shares of Doximity from $29.00 to $34.00 and gave the company an “in-line” rating in a research note on Friday, August 9th. Wells Fargo & Company lowered shares of Doximity from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $27.00 to $19.00 in a research report on Thursday, July 18th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Doximity from $27.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Doximity presently has an average rating of “Hold” and an average price target of $33.50.

Insider Buying and Selling

In other news, CFO Anna Bryson sold 30,000 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $35.00, for a total value of $1,050,000.00. Following the completion of the sale, the chief financial officer now directly owns 309,627 shares in the company, valued at $10,836,945. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Watkin Phoebe L. Yang sold 1,011 shares of Doximity stock in a transaction on Monday, August 5th. The shares were sold at an average price of $25.54, for a total value of $25,820.94. Following the transaction, the director now directly owns 11,258 shares in the company, valued at $287,529.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Anna Bryson sold 30,000 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $35.00, for a total transaction of $1,050,000.00. Following the completion of the sale, the chief financial officer now owns 309,627 shares in the company, valued at $10,836,945. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,451 shares of company stock valued at $1,201,018. Corporate insiders own 39.40% of the company’s stock.

Institutional Trading of Doximity

A number of institutional investors and hedge funds have recently bought and sold shares of DOCS. William Blair Investment Management LLC purchased a new position in shares of Doximity during the 1st quarter valued at approximately $148,823,000. Swedbank AB purchased a new position in shares of Doximity during the 1st quarter valued at approximately $91,673,000. Capital World Investors boosted its stake in shares of Doximity by 250.7% during the 1st 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 during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Doximity by 33.5% during the 1st 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 during the last quarter. Finally, Clearbridge Investments LLC boosted its stake in shares of Doximity by 7.1% during the 2nd 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 during the last quarter. Institutional investors and hedge funds own 87.19% of the company’s stock.

Doximity Trading Up 1.8 %

The firm has a market capitalization of $8.27 billion, a price-to-earnings ratio of 60.56, a price-to-earnings-growth ratio of 5.80 and a beta of 1.29. The company has a 50-day moving average of $36.35 and a 200-day moving average of $30.13.

Doximity (NASDAQ:DOCS) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.22 EPS for the quarter, beating 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 analyst estimates of $119.88 million. On average, research analysts forecast that Doximity, Inc. will post 0.8 earnings per share for the current year.

About Doximity

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.