Doximity (NASDAQ:DOCS) Given New $82.00 Price Target at Needham & Company LLC

Doximity (NASDAQ:DOCS) had its target price boosted by investment analysts at Needham & Company LLC from $65.00 to $82.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 39.99% from the company’s current price.

DOCS has been the topic of several other research reports. KeyCorp reduced their price target on shares of Doximity from $70.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Mizuho initiated coverage on shares of Doximity in a report on Wednesday, December 4th. They issued a “neutral” rating and a $55.00 price target on the stock. Stephens initiated coverage on shares of Doximity in a research report on Friday, December 20th. They issued an “equal weight” rating and a $55.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on shares of Doximity from $30.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Finally, Canaccord Genuity Group reissued a “hold” rating and issued a $60.00 price objective (up previously from $40.00) on shares of Doximity in a research report on Wednesday, November 13th. Twelve investment 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 stock. Based on data from MarketBeat, Doximity has a consensus rating of “Hold” and a consensus price target of $59.12.

Doximity Trading Up 0.7 %

DOCS stock opened at $58.58 on Friday. The company has a market cap of $10.94 billion, a P/E ratio of 67.33, a P/E/G ratio of 4.68 and a beta of 1.39. Doximity has a 52 week low of $22.96 and a 52 week high of $61.75. The company’s 50-day moving average price is $55.09 and its 200 day moving average price is $45.31.

Doximity (NASDAQ:DOCS) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.02). The company had revenue of $136.83 million for the quarter, compared to analysts’ expectations of $127.05 million. Doximity had a return on equity of 19.79% and a net margin of 33.69%. During the same period in the prior year, the firm posted $0.18 EPS. On average, equities research analysts expect that Doximity will post 0.88 earnings per share for the current year.

Insider Transactions at Doximity

In other news, Director Timothy S. Cabral sold 20,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were 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 approximately $366,463.20. This represents a 75.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 37.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC boosted its stake in Doximity by 468.1% during the 4th quarter. Global Retirement Partners LLC now owns 534 shares of the company’s stock valued at $29,000 after acquiring an additional 440 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Doximity by 69.1% in the 4th quarter. UMB Bank n.a. now owns 575 shares of the company’s stock worth $31,000 after buying an additional 235 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Doximity by 324.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 789 shares of the company’s stock worth $34,000 after buying an additional 603 shares during the last quarter. Morse Asset Management Inc bought a new position in shares of Doximity in the 3rd quarter worth about $46,000. Finally, IFP Advisors Inc lifted its position in shares of Doximity by 344.1% in the 4th quarter. IFP Advisors Inc now owns 1,328 shares of the company’s stock worth $71,000 after buying an additional 1,029 shares during the last quarter. 87.19% of the stock is currently 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.