Doximity (NASDAQ:DOCS) Sets New 12-Month High on Analyst Upgrade

Doximity, Inc. (NASDAQ:DOCS) reached a new 52-week high on Friday after Canaccord Genuity Group raised their price target on the stock from $60.00 to $71.00. Canaccord Genuity Group currently has a hold rating on the stock. Doximity traded as high as $70.62 and last traded at $77.11, with a volume of 137195 shares traded. The stock had previously closed at $58.26.

Several other research analysts have also issued reports on DOCS. Truist Financial increased their target price on Doximity from $35.00 to $49.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Wells Fargo & Company increased their target price on Doximity from $43.00 to $55.00 and gave the company an “equal weight” rating in a research note on Friday. Morgan Stanley upgraded Doximity from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $33.00 to $53.00 in a research note on Thursday, November 14th. The Goldman Sachs Group began coverage on Doximity in a research note on Friday, November 15th. They issued a “neutral” rating and a $58.00 price target on the stock. Finally, Barclays raised their price target on Doximity from $52.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Twelve research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $62.44.

Insider Buying and Selling at Doximity

In other Doximity news, Director Timothy S. Cabral sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was 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 in the company, valued at $366,463.20. The trade was a 75.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 37.40% of the company’s stock.

Institutional Trading of Doximity

A number of large investors have recently modified their holdings of DOCS. Global Retirement Partners LLC boosted its position in Doximity by 468.1% during the 4th quarter. Global Retirement Partners LLC now owns 534 shares of the company’s stock valued at $29,000 after acquiring an additional 440 shares in the last quarter. UMB Bank n.a. raised its stake 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 acquiring an additional 235 shares during the last quarter. Larson Financial Group LLC raised its stake in 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. Farther Finance Advisors LLC raised its stake in Doximity by 324.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 789 shares of the company’s stock worth $34,000 after acquiring an additional 603 shares during the last quarter. Finally, Morse Asset Management Inc acquired a new stake in Doximity during the 3rd quarter worth about $46,000. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Doximity Trading Up 35.5 %

The firm has a 50-day simple moving average of $55.61 and a two-hundred day simple moving average of $45.66. The company has a market capitalization of $14.74 billion, a price-to-earnings ratio of 90.77, a P/E/G ratio of 4.68 and a beta of 1.39.

Doximity (NASDAQ:DOCS) last posted its earnings results 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 net margin of 33.69% and a return on equity of 19.79%. The business had revenue of $136.83 million for the quarter, compared to analyst estimates of $127.05 million. During the same quarter last year, the business earned $0.18 earnings per share. Equities research analysts anticipate that Doximity, Inc. will post 0.88 EPS for the current year.

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.