Raymond James Lowers Doximity (NASDAQ:DOCS) Price Target to $65.00

Doximity (NASDAQ:DOCS) had its target price trimmed by Raymond James from $83.00 to $65.00 in a research note released on Friday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other research firms have also weighed in on DOCS. Mizuho raised their target price on shares of Doximity from $55.00 to $65.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Leerink Partnrs raised shares of Doximity from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 7th. Piper Sandler raised shares of Doximity from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $31.00 to $78.00 in a research note on Friday, February 7th. The Goldman Sachs Group raised their target price on shares of Doximity from $58.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Finally, Truist Financial decreased their target price on shares of Doximity from $65.00 to $58.00 and set a “hold” rating on the stock in a research note on Thursday, April 10th. Eleven research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $61.78.

Doximity Stock Down 10.0%

DOCS opened at $52.60 on Friday. Doximity has a twelve month low of $25.00 and a twelve month high of $85.21. The company has a 50-day moving average price of $57.40 and a 200 day moving average price of $57.73. The company has a market cap of $9.82 billion, a PE ratio of 52.60, a price-to-earnings-growth ratio of 4.10 and a beta of 1.41.

Doximity (NASDAQ:DOCS) last released its quarterly earnings results on Thursday, May 15th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.11. Doximity had a net margin of 36.60% and a return on equity of 21.75%. During the same quarter in the prior year, the firm posted $0.25 earnings per share. The business’s revenue was up 17.1% compared to the same quarter last year. As a group, sell-side analysts expect that Doximity will post 0.99 earnings per share for the current year.

Insider Buying and Selling at Doximity

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

Institutional Investors Weigh In On Doximity

Several institutional investors have recently modified their holdings of DOCS. Global Retirement Partners LLC lifted its position in shares of Doximity by 468.1% during the 4th quarter. Global Retirement Partners LLC now owns 534 shares of the company’s stock worth $29,000 after purchasing an additional 440 shares during the last quarter. VSM Wealth Advisory LLC purchased a new stake in shares of Doximity during the 1st quarter worth $29,000. UMB Bank n.a. lifted its position in shares of Doximity by 69.1% during the 4th quarter. UMB Bank n.a. now owns 575 shares of the company’s stock worth $31,000 after purchasing an additional 235 shares during the last quarter. Allworth Financial LP lifted its position in shares of Doximity by 104.0% during the 1st quarter. Allworth Financial LP now owns 563 shares of the company’s stock worth $32,000 after purchasing an additional 287 shares during the last quarter. Finally, National Bank of Canada FI purchased a new stake in shares of Doximity during the 1st quarter worth $33,000. 87.19% of the stock is 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.