Doximity (NASDAQ:DOCS) Rating Increased to Strong-Buy at Baird R W

Doximity (NASDAQ:DOCS) was upgraded by Baird R W to a “strong-buy” rating in a report released on Tuesday, Zacks.com reports.

Several other analysts also recently weighed in on the stock. Wells Fargo & Company downgraded shares of Doximity from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $27.00 to $19.00 in a research note on Thursday, July 18th. JPMorgan Chase & Co. upped their target price on Doximity from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Evercore ISI lifted 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. Canaccord Genuity Group upped their price target on Doximity from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Finally, Morgan Stanley upped their price objective on shares of Doximity from $25.00 to $26.00 and gave the stock an “underweight” rating in a report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $32.42.

Doximity Stock Down 0.2 %

Shares of DOCS opened at $40.06 on Tuesday. The business’s 50-day moving average price is $32.93 and its 200-day moving average price is $28.91. Doximity has a twelve month low of $19.71 and a twelve month high of $40.99. The stock has a market cap of $7.43 billion, a PE ratio of 55.64, a P/E/G ratio of 5.15 and a beta of 1.27.

Doximity (NASDAQ:DOCS) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. Doximity had a net margin of 32.53% and a return on equity of 19.26%. The company had revenue of $126.68 million during the quarter, compared to the consensus estimate of $119.88 million. Analysts expect that Doximity will post 0.8 earnings per share for the current fiscal year.

Insider Buying and Selling at Doximity

In other news, CFO Anna Bryson sold 30,000 shares of Doximity stock in a transaction that occurred on 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Doximity news, Director Kira Scherer Wampler sold 2,500 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $28.00, for a total value of $70,000.00. Following the transaction, the director now directly owns 10,258 shares of the company’s stock, valued at $287,224. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Anna Bryson sold 30,000 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 309,627 shares in the company, valued at approximately $10,836,945. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,951 shares of company stock worth $1,271,018. Company insiders own 39.40% of the company’s stock.

Institutional Investors Weigh In On Doximity

A number of hedge funds have recently modified their holdings of DOCS. LRI Investments LLC purchased a new position in shares of Doximity during the 1st quarter valued at about $27,000. Blue Trust Inc. boosted its stake in Doximity by 621.4% in the 2nd quarter. Blue Trust Inc. now owns 1,385 shares of the company’s stock worth $37,000 after purchasing an additional 1,193 shares during the period. Quarry LP grew its stake in Doximity by 101.2% during the second quarter. Quarry LP now owns 1,616 shares of the company’s stock valued at $45,000 after acquiring an additional 131,253 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Doximity during the first quarter valued at about $46,000. Finally, First Horizon Advisors Inc. grew its holdings in Doximity by 80.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,710 shares of the company’s stock valued at $48,000 after buying an additional 760 shares in the last quarter. Institutional investors own 87.19% of the company’s stock.

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.