Doximity (NASDAQ:DOCS) Price Target Raised to $71.00

Doximity (NASDAQ:DOCS) had its price target upped by Canaccord Genuity Group from $60.00 to $71.00 in a research report released on Friday morning,Benzinga reports. Canaccord Genuity Group currently has a hold rating on the stock.

DOCS has been the subject of a number of other research reports. Truist Financial raised their price objective on Doximity from $35.00 to $49.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Needham & Company LLC raised their price target on shares of Doximity from $65.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday. JPMorgan Chase & Co. upped their price target on shares of Doximity from $30.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. Barclays raised their price objective on shares of Doximity from $52.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Finally, Stephens assumed coverage on shares of Doximity in a research note on Friday, December 20th. They issued an “equal weight” rating and a $55.00 target price on the stock. Eleven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $62.44.

Doximity Trading Up 35.5 %

Shares of DOCS stock opened at $78.97 on Friday. The firm has a fifty day simple moving average of $55.61 and a 200-day simple moving average of $45.91. The company has a market capitalization of $14.74 billion, a PE ratio of 78.97, a price-to-earnings-growth ratio of 4.61 and a beta of 1.39. Doximity has a twelve month low of $22.96 and a twelve month high of $80.71.

Doximity (NASDAQ:DOCS) last announced its earnings results on Thursday, November 7th. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.02). Doximity had a net margin of 36.60% and a return on equity of 22.38%. The business had revenue of $136.83 million for the quarter, compared to analyst estimates of $127.05 million. During the same quarter in the prior year, the business earned $0.18 earnings per share. Equities research analysts predict that Doximity will post 0.88 EPS for the current year.

Insiders Place Their Bets

In other news, Director Timothy S. Cabral sold 20,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $57.62, for a total transaction of $1,152,400.00. Following the completion of the transaction, the director now owns 6,360 shares of the company’s stock, valued at approximately $366,463.20. The trade was a 75.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 37.40% of the stock is owned by corporate insiders.

Institutional Trading of Doximity

Several hedge funds have recently bought and sold shares of the company. Global Retirement Partners LLC increased its stake in shares of Doximity by 468.1% in the fourth quarter. Global Retirement Partners LLC now owns 534 shares of the company’s stock valued at $29,000 after purchasing an additional 440 shares during the period. UMB Bank n.a. grew its holdings in Doximity by 69.1% in the 4th quarter. UMB Bank n.a. now owns 575 shares of the company’s stock worth $31,000 after buying an additional 235 shares in the last quarter. Farther Finance Advisors LLC increased its position in Doximity by 324.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 789 shares of the company’s stock valued at $34,000 after acquiring an additional 603 shares during the period. Larson Financial Group LLC raised its stake in Doximity by 49.4% during the 4th quarter. Larson Financial Group LLC now owns 756 shares of the company’s stock valued at $40,000 after acquiring an additional 250 shares in the last quarter. Finally, Morse Asset Management Inc acquired a new position in Doximity during the 3rd quarter worth $46,000. 87.19% of the stock is currently owned by institutional investors.

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.