Wells Fargo & Company Forecasts Strong Price Appreciation for Doximity (NASDAQ:DOCS) Stock

Doximity (NASDAQ:DOCS) had its target price increased by Wells Fargo & Company from $43.00 to $55.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other analysts have also recently weighed in on the stock. Needham & Company LLC raised their price objective on shares of Doximity from $65.00 to $82.00 and gave the stock a “buy” rating in a report on Friday. Canaccord Genuity Group lowered shares of Doximity from a “buy” rating to a “hold” rating and lifted their price target for the stock from $40.00 to $60.00 in a research note on Wednesday, November 13th. Morgan Stanley upgraded shares of Doximity from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $33.00 to $53.00 in a research note on Thursday, November 14th. KeyCorp reduced their target price on Doximity from $70.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. 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. Eleven investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.44.

Doximity Price Performance

Doximity stock opened at $78.97 on Friday. The stock has a market cap of $14.74 billion, a PE ratio of 78.97, a P/E/G ratio of 4.61 and a beta of 1.39. The stock’s fifty day moving average is $55.61 and its two-hundred day moving average is $45.91. Doximity has a 1-year low of $22.96 and a 1-year high of $80.71.

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

Insider Activity 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 transaction, the director now owns 6,360 shares in the company, valued at approximately $366,463.20. The trade was a 75.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 DOCS. Handelsbanken Fonder AB raised its position in Doximity by 0.7% in the fourth quarter. Handelsbanken Fonder AB now owns 29,700 shares of the company’s stock worth $1,586,000 after acquiring an additional 200 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of 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 in the last quarter. Fielder Capital Group LLC lifted its stake in shares of Doximity by 4.5% in the fourth 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 period. Larson Financial Group LLC boosted its holdings in Doximity by 49.4% during the fourth quarter. Larson Financial Group LLC now owns 756 shares of the company’s stock worth $40,000 after buying an additional 250 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Doximity by 20.6% during the fourth quarter. GAMMA Investing LLC now owns 1,735 shares of the company’s stock worth $93,000 after buying an additional 296 shares during the period. 87.19% of the stock is currently owned by hedge funds and other 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.