Doximity (NASDAQ:DOCS) Rating Increased to Neutral at JPMorgan Chase & Co.

Doximity (NASDAQ:DOCS) was upgraded by equities researchers at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research report issued on Thursday, MarketBeat.com reports. The brokerage presently has a $25.00 price target on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 4.98% from the company’s previous close.

DOCS has been the subject of a number of other reports. SVB Leerink began coverage on shares of Doximity in a research note on Monday, February 26th. They issued a “market perform” rating and a $32.00 price target for the company. Barclays initiated coverage on shares of Doximity in a report on Wednesday, January 3rd. They set an “equal weight” rating and a $31.00 price target on the stock. Leerink Partnrs restated a “market perform” rating on shares of Doximity in a report on Monday, February 26th. Truist Financial upped their price objective on shares of Doximity from $28.00 to $29.00 and gave the company a “hold” rating in a research note on Friday, February 9th. Finally, Bank of America upped their price objective on shares of Doximity from $29.00 to $32.00 and gave the stock a “neutral” rating in a report on Tuesday, January 23rd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $28.82.

Doximity Stock Up 1.0 %

Shares of NASDAQ:DOCS opened at $23.82 on Thursday. Doximity has a fifty-two week low of $19.71 and a fifty-two week high of $36.92. The firm has a 50-day simple moving average of $26.95 and a 200 day simple moving average of $26.19. The company has a market cap of $4.44 billion, a PE ratio of 36.08, a P/E/G ratio of 3.01 and a beta of 1.17.

Doximity (NASDAQ:DOCS) last posted its earnings results on Thursday, February 8th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.06. The firm had revenue of $135.28 million during the quarter, compared to analyst estimates of $127.46 million. Doximity had a net margin of 29.39% and a return on equity of 16.08%. As a group, research analysts forecast that Doximity will post 0.72 EPS for the current fiscal year.

Insider Buying and Selling at Doximity

In other news, Director Kira Scherer Wampler sold 2,500 shares of Doximity stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $26.97, for a total value of $67,425.00. Following the sale, the director now directly owns 10,258 shares in the company, valued at $276,658.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 39.40% of the company’s stock.

Hedge Funds Weigh In On Doximity

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DOCS. Vanguard Group Inc. lifted its position in Doximity by 5.9% during the third quarter. Vanguard Group Inc. now owns 11,038,475 shares of the company’s stock worth $234,236,000 after purchasing an additional 616,157 shares during the period. Baillie Gifford & Co. raised its stake in Doximity by 0.9% during the third quarter. Baillie Gifford & Co. now owns 6,656,242 shares of the company’s stock worth $141,245,000 after acquiring an additional 57,078 shares in the last quarter. Edmond DE Rothschild Holding S.A. increased its stake in shares of Doximity by 15.1% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 2,302,240 shares of the company’s stock valued at $64,555,000 after buying an additional 301,290 shares during the period. Norges Bank acquired a new position in shares of Doximity in the fourth quarter valued at approximately $35,995,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Doximity by 9.6% in the third quarter. Bank of New York Mellon Corp now owns 1,229,750 shares of the company’s stock valued at $26,095,000 after buying an additional 107,776 shares during the period. 87.19% of the stock is owned by institutional investors.

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.