Doximity (NASDAQ:DOCS) Price Target Lowered to $50.00 at Canaccord Genuity Group

Doximity (NASDAQ:DOCS) had its price objective trimmed by Canaccord Genuity Group from $71.00 to $50.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a hold rating on the stock.

Several other research analysts have also issued reports on the company. Mizuho increased their price objective on Doximity from $55.00 to $65.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Truist Financial dropped their price objective on Doximity from $65.00 to $58.00 and set a “hold” rating for the company in a research note on Thursday, April 10th. Morgan Stanley dropped their price objective on Doximity from $71.00 to $60.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Doximity in a research note on Friday, February 7th. Finally, KeyCorp lowered their target price on Doximity from $83.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Eleven 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $61.78.

Doximity Trading Down 10.0%

Shares of NASDAQ DOCS opened at $52.60 on Friday. The business has a fifty day simple moving average of $57.40 and a 200 day simple moving average of $57.73. The firm has a market capitalization of $9.82 billion, a price-to-earnings ratio of 52.60, a PEG ratio of 4.10 and a beta of 1.41. Doximity has a one year low of $25.00 and a one year high of $85.21.

Doximity (NASDAQ:DOCS) last released its quarterly earnings data on Thursday, May 15th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.11. Doximity had a return on equity of 21.75% and a net margin of 36.60%. During the same quarter last year, the company earned $0.25 earnings per share. The firm’s quarterly revenue was up 17.1% on a year-over-year basis. On average, research analysts anticipate that Doximity will post 0.99 earnings per share for the current fiscal year.

Insider Activity at Doximity

In other Doximity news, Director Kira Scherer Wampler sold 2,000 shares of the firm’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $56.93, for a total transaction of $113,860.00. Following the transaction, the director now owns 16,618 shares in the company, valued at approximately $946,062.74. This trade represents a 10.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Anna Bryson sold 45,000 shares of the firm’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $57.23, for a total value of $2,575,350.00. Following the transaction, the chief financial officer now owns 357,165 shares in the company, valued at approximately $20,440,552.95. This trade represents a 11.19% decrease in their position. The disclosure for this sale can be found here. 37.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Doximity

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. QSV Equity Investors LLC boosted its holdings in Doximity by 0.3% during the fourth quarter. QSV Equity Investors LLC now owns 60,763 shares of the company’s stock worth $3,244,000 after buying an additional 186 shares during the last quarter. Amalgamated Bank boosted its holdings in Doximity by 0.3% during the first quarter. Amalgamated Bank now owns 60,928 shares of the company’s stock worth $3,536,000 after buying an additional 186 shares during the last quarter. Handelsbanken Fonder AB boosted its holdings in Doximity by 0.7% during the fourth quarter. Handelsbanken Fonder AB now owns 29,700 shares of the company’s stock worth $1,586,000 after buying an additional 200 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Doximity by 0.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,978 shares of the company’s stock worth $2,262,000 after buying an additional 210 shares during the last quarter. Finally, Greenleaf Trust boosted its holdings in Doximity by 5.4% during the first quarter. Greenleaf Trust now owns 4,492 shares of the company’s stock worth $261,000 after buying an additional 230 shares during the last quarter. Institutional investors own 87.19% of the company’s stock.

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.