Doximity (NASDAQ:DOCS) Rating Increased to Outperform at Leerink Partners

Leerink Partners upgraded shares of Doximity (NASDAQ:DOCS) from a market perform rating to an outperform rating in a report issued on Friday morning, Marketbeat reports. They currently have $90.00 target price on the stock, up from their prior target price of $60.00.

DOCS has been the subject of several other reports. Wells Fargo & Company raised their target price on shares of Doximity from $41.00 to $43.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. lifted their price objective on shares of Doximity from $30.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Raymond James reiterated an “outperform” rating and issued a $65.00 target price (up from $37.00) on shares of Doximity in a research note on Friday, November 8th. Mizuho assumed coverage on Doximity in a research report on Wednesday, December 4th. They set a “neutral” rating and a $55.00 price target on the stock. Finally, Canaccord Genuity Group restated a “hold” rating and issued a $60.00 price objective (up previously from $40.00) on shares of Doximity in a research note on Wednesday, November 13th. 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 stock. According to data from MarketBeat.com, Doximity presently has an average rating of “Moderate Buy” and a consensus price target of $62.44.

Doximity Price Performance

Shares of NASDAQ DOCS opened at $78.97 on Friday. The business has a 50-day moving average of $55.61 and a 200-day moving average of $45.91. The stock 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 has a fifty-two week low of $22.96 and a fifty-two week high of $80.71.

Doximity (NASDAQ:DOCS) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.02). Doximity had a net margin of 36.60% and a return on equity of 22.38%. The company had revenue of $136.83 million during the quarter, compared to the consensus estimate of $127.05 million. During the same quarter in the prior year, the business earned $0.18 earnings per share. On average, sell-side analysts expect that Doximity will post 0.88 EPS for the current year.

Insider Buying and Selling

In related news, Director Timothy S. Cabral sold 20,000 shares of the 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 37.40% of the stock is owned by insiders.

Institutional Trading of Doximity

A number of institutional investors have recently modified their holdings of the stock. Sequoia Financial Advisors LLC bought a new position in shares of Doximity in the fourth quarter worth $282,000. HighTower Advisors LLC grew its stake in Doximity by 14.5% during the fourth quarter. HighTower Advisors LLC now owns 28,684 shares of the company’s stock worth $1,531,000 after buying an additional 3,630 shares in the last quarter. Wealthfront Advisers LLC bought a new position in Doximity in the 4th quarter valued at about $196,000. Moran Wealth Management LLC acquired a new position in shares of Doximity in the 4th quarter valued at approximately $3,306,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Doximity by 31.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,879 shares of the company’s stock worth $1,649,000 after acquiring an additional 7,351 shares during the period. 87.19% of the stock is currently owned by institutional investors.

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.