Doximity (NASDAQ:DOCS) Lifted to “Overweight” at Barclays

Barclays upgraded shares of Doximity (NASDAQ:DOCS) from an equal weight rating to an overweight rating in a report released on Tuesday morning, MarketBeat.com reports. Barclays currently has $52.00 price target on the stock, up from their previous price target of $35.00.

Several other research analysts have also recently commented on the stock. Bank of America raised their target price on shares of Doximity from $32.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, October 7th. Canaccord Genuity Group lifted their price target on shares of Doximity from $37.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Needham & Company LLC raised shares of Doximity from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research note on Friday, August 9th. 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 report on Thursday, July 18th. Finally, Morgan Stanley boosted their price objective on Doximity from $25.00 to $26.00 and gave the stock an “underweight” rating in a research report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $35.83.

Doximity Stock Performance

Shares of NASDAQ:DOCS opened at $43.49 on Tuesday. Doximity has a 52-week low of $19.89 and a 52-week high of $44.88. The company has a market capitalization of $8.06 billion, a P/E ratio of 60.40, a price-to-earnings-growth ratio of 5.29 and a beta of 1.29. The company has a 50-day simple moving average of $39.47 and a 200 day simple moving average of $31.23.

Doximity (NASDAQ:DOCS) last issued its earnings results on Thursday, August 8th. The company reported $0.22 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $119.88 million. As a group, equities analysts forecast that Doximity will post 0.8 earnings per share for the current year.

Insider Transactions at Doximity

In related news, Director Kira Scherer Wampler sold 2,500 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $28.18, for a total transaction of $70,450.00. Following the sale, the director now owns 10,258 shares in the company, valued at $289,070.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Watkin Phoebe L. Yang sold 1,011 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $25.54, for a total transaction of $25,820.94. Following the transaction, the director now directly owns 11,258 shares of the company’s stock, valued at $287,529.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kira Scherer Wampler sold 2,500 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $28.18, for a total value of $70,450.00. Following the completion of the transaction, the director now owns 10,258 shares in the company, valued at approximately $289,070.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,451 shares of company stock valued at $1,201,018. Corporate insiders own 39.40% of the company’s stock.

Institutional Investors Weigh In On Doximity

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Blair William & Co. IL lifted its holdings in shares of Doximity by 31.7% in the first quarter. Blair William & Co. IL now owns 90,600 shares of the company’s stock valued at $2,438,000 after purchasing an additional 21,787 shares in the last quarter. Federated Hermes Inc. lifted its stake in Doximity by 1,824.5% during the 2nd quarter. Federated Hermes Inc. now owns 279,634 shares of the company’s stock valued at $7,821,000 after acquiring an additional 265,104 shares in the last quarter. AXA S.A. raised its holdings in shares of Doximity by 40.2% in the second quarter. AXA S.A. now owns 216,392 shares of the company’s stock valued at $6,052,000 after purchasing an additional 61,992 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of Doximity by 128.7% during the first quarter. Acadian Asset Management LLC now owns 96,442 shares of the company’s stock valued at $2,590,000 after purchasing an additional 54,281 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in Doximity by 15,714.3% during the second quarter. Nisa Investment Advisors LLC now owns 11,070 shares of the company’s stock worth $310,000 after purchasing an additional 11,000 shares during the last quarter. Institutional investors and hedge funds 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.