Doximity (NASDAQ:DOCS) Upgraded at Piper Sandler

Piper Sandler upgraded shares of Doximity (NASDAQ:DOCS) from a neutral rating to an overweight rating in a research report released on Friday morning, MarketBeat.com reports. The brokerage currently has $78.00 price target on the stock, up from their previous price target of $31.00.

A number of other equities analysts have also recently weighed in on the company. Needham & Company LLC upped their price target on Doximity from $65.00 to $82.00 and gave the stock a “buy” rating in a report on Friday. Leerink Partners upgraded shares of Doximity from a “market perform” rating to an “outperform” rating and upped their target price for the company from $60.00 to $90.00 in a research note on Friday. Mizuho initiated coverage on shares of Doximity in a research note on Wednesday, December 4th. They set a “neutral” rating and a $55.00 price target on the stock. Bank of America upped their price objective on shares of Doximity from $54.00 to $57.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Finally, Wells Fargo & Company lifted their target price on Doximity from $43.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Friday. Eleven investment 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $62.44.

Doximity Trading Up 35.5 %

NASDAQ:DOCS opened at $78.97 on Friday. The firm’s fifty day simple moving average is $55.61 and its 200 day simple moving average is $45.91. Doximity has a twelve month low of $22.96 and a twelve month high of $80.71. The firm has a market capitalization of $14.74 billion, a price-to-earnings ratio of 78.97, a PEG ratio of 4.61 and a beta of 1.39.

Doximity (NASDAQ:DOCS) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.02). Doximity had a return on equity of 22.38% and a net margin of 36.60%. The company 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 firm earned $0.18 EPS. On average, analysts predict that Doximity will post 0.88 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Timothy S. Cabral sold 20,000 shares of the business’s stock in a transaction dated 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 sale, the director now owns 6,360 shares of the company’s stock, valued at $366,463.20. This represents a 75.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 37.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Doximity

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Handelsbanken Fonder AB raised its position in shares of Doximity by 0.7% during the 4th quarter. Handelsbanken Fonder AB now owns 29,700 shares of the company’s stock worth $1,586,000 after purchasing an additional 200 shares during the period. UMB Bank n.a. grew its stake in Doximity by 69.1% during 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 during the last quarter. Fielder Capital Group LLC increased its position in Doximity by 4.5% in the fourth quarter. Fielder Capital Group LLC now owns 5,488 shares of the company’s stock worth $293,000 after buying an additional 235 shares during the period. Larson Financial Group LLC lifted its stake in Doximity by 49.4% in the fourth quarter. Larson Financial Group LLC now owns 756 shares of the company’s stock valued at $40,000 after buying an additional 250 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Doximity by 20.6% during the fourth quarter. GAMMA Investing LLC now owns 1,735 shares of the company’s stock valued at $93,000 after acquiring an additional 296 shares during the period. 87.19% of the stock is currently owned by institutional investors and hedge funds.

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.