Doximity (NASDAQ:DOCS) Shares Up 6.7% After Analyst Upgrade

Doximity, Inc. (NASDAQ:DOCS)’s stock price shot up 6.7% during mid-day trading on Monday after Mizuho raised their price target on the stock from $55.00 to $65.00. Mizuho currently has a neutral rating on the stock. Doximity traded as high as $84.73 and last traded at $84.53. 1,721,454 shares were traded during mid-day trading, a decline of 9% from the average session volume of 1,898,433 shares. The stock had previously closed at $79.23.

DOCS has been the topic of several other research reports. Leerink Partners raised shares of Doximity from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $60.00 to $90.00 in a research report on Friday. KeyCorp lowered their price target on shares of Doximity from $70.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Needham & Company LLC increased their target price on shares of Doximity from $65.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday. Morgan Stanley raised Doximity from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $33.00 to $53.00 in a research note on Thursday, November 14th. Finally, Truist Financial upped their price objective on shares of Doximity from $35.00 to $49.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Eleven research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Doximity presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.22.

Insider Buying and Selling

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

Institutional Trading of Doximity

Several large investors have recently bought and sold shares of the stock. Handelsbanken Fonder AB grew its position in shares of Doximity by 0.7% in the fourth quarter. Handelsbanken Fonder AB now owns 29,700 shares of the company’s stock valued at $1,586,000 after purchasing an additional 200 shares during the period. UMB Bank n.a. boosted its holdings in Doximity by 69.1% in the 4th quarter. UMB Bank n.a. now owns 575 shares of the company’s stock valued at $31,000 after purchasing an additional 235 shares during the last quarter. Fielder Capital Group LLC lifted its stake in shares of Doximity by 4.5% in the 4th quarter. Fielder Capital Group LLC now owns 5,488 shares of the company’s stock valued at $293,000 after purchasing an additional 235 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Doximity by 49.4% in the 4th quarter. Larson Financial Group LLC now owns 756 shares of the company’s stock worth $40,000 after acquiring an additional 250 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Doximity by 20.6% in the fourth quarter. GAMMA Investing LLC now owns 1,735 shares of the company’s stock valued at $93,000 after purchasing an additional 296 shares during the period. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Doximity Stock Up 4.9 %

The firm has a 50-day moving average price of $56.20 and a 200 day moving average price of $46.30. The firm has a market capitalization of $15.52 billion, a PE ratio of 83.11, a price-to-earnings-growth ratio of 4.61 and a beta of 1.39.

Doximity Company Profile

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.