Doximity (NASDAQ:DOCS) Upgraded at Leerink Partners

Doximity (NASDAQ:DOCS) was upgraded by analysts at Leerink Partners from a “market perform” rating to an “outperform” rating in a report released on Friday,Briefing.com Automated Import reports. The brokerage presently has a $90.00 price target on the stock, up from their previous price target of $60.00. Leerink Partners’ target price would indicate a potential upside of 53.65% from the stock’s previous close.

A number of other research firms have also weighed in on DOCS. 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 note on Thursday, November 21st. Wells Fargo & Company lifted their price target on Doximity from $41.00 to $43.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Canaccord Genuity Group reiterated a “hold” rating and set a $60.00 price objective (up from $40.00) on shares of Doximity in a research note on Wednesday, November 13th. Mizuho initiated coverage on Doximity in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $55.00 target price for the company. Finally, Stephens began coverage on Doximity in a research report on Friday, December 20th. They set an “equal weight” rating and a $55.00 price target on the stock. Twelve equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Doximity currently has a consensus rating of “Hold” and a consensus target price of $56.53.

Doximity Price Performance

Shares of NASDAQ DOCS opened at $58.58 on Friday. The stock has a market capitalization of $10.94 billion, a PE ratio of 67.33, a P/E/G ratio of 4.68 and a beta of 1.39. Doximity has a one year low of $22.96 and a one year high of $61.75. The business’s fifty day moving average price is $55.09 and its 200-day moving average price is $45.31.

Doximity (NASDAQ:DOCS) last issued its 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 return on equity of 19.79% and a net margin of 33.69%. The business had revenue of $136.83 million for the quarter, compared to the consensus estimate of $127.05 million. During the same quarter in the prior year, the business earned $0.18 EPS. As a group, equities analysts expect that Doximity will post 0.88 EPS for the current fiscal year.

Insider Transactions at Doximity

In other Doximity news, Director Timothy S. Cabral sold 20,000 shares of the company’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 value of $1,152,400.00. Following the completion of the transaction, the director now directly owns 6,360 shares in the company, valued at $366,463.20. This represents a 75.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 37.40% of the company’s stock.

Institutional Trading of Doximity

Several hedge funds have recently made changes to their positions in the business. Creative Planning raised its position in Doximity by 20.1% during the 2nd quarter. Creative Planning now owns 19,433 shares of the company’s stock valued at $544,000 after purchasing an additional 3,251 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in Doximity during the 2nd quarter valued at about $270,000. GAMMA Investing LLC boosted its stake in Doximity by 40.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,439 shares of the company’s stock worth $63,000 after purchasing an additional 412 shares in the last quarter. Perpetual Ltd acquired a new position in shares of Doximity in the 3rd quarter valued at $441,000. Finally, Edge Wealth Management LLC purchased a new position in shares of Doximity in the third quarter worth about $202,000. 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.