Doximity (NASDAQ:DOCS) Stock Rating Upgraded by Piper Sandler

Piper Sandler upgraded shares of Doximity (NASDAQ:DOCS) from a neutral rating to an overweight rating in a report released on Friday morning, MarketBeat reports. They currently have $78.00 price objective on the stock, up from their previous price objective of $31.00.

A number of other research analysts also recently commented on DOCS. Canaccord Genuity Group downgraded Doximity from a “buy” rating to a “hold” rating and boosted their price target for the company from $40.00 to $60.00 in a research note on Wednesday, November 13th. Barclays boosted their target price on shares of Doximity from $52.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Morgan Stanley upgraded shares of Doximity from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $33.00 to $53.00 in a research report on Thursday, November 14th. Wells Fargo & Company lifted their price objective on shares of Doximity from $43.00 to $55.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, The Goldman Sachs Group assumed coverage on Doximity in a research note on Friday, November 15th. They set a “neutral” rating and a $58.00 target price for the company. Twelve investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $62.44.

Doximity Trading Up 35.5 %

Shares of DOCS opened at $78.97 on Friday. The stock has a market capitalization of $14.74 billion, a PE ratio of 90.77, a P/E/G ratio of 4.68 and a beta of 1.39. The firm’s 50 day moving average is $55.61 and its 200-day moving average is $45.66. Doximity has a 12 month low of $22.96 and a 12 month high of $80.71.

Doximity (NASDAQ:DOCS) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.02). The company had revenue of $136.83 million during the quarter, compared to analyst estimates of $127.05 million. Doximity had a net margin of 33.69% and a return on equity of 19.79%. During the same period in the prior year, the firm earned $0.18 earnings per share. Equities research analysts predict that Doximity will post 0.88 earnings per share for the current fiscal year.

Insider Buying and Selling at Doximity

In other news, Director Timothy S. Cabral sold 20,000 shares of the stock in a transaction dated 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 sale, the director now owns 6,360 shares of the company’s stock, valued at approximately $366,463.20. This represents a 75.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 37.40% of the company’s stock.

Institutional Trading of Doximity

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fountainhead AM LLC bought a new stake in shares of Doximity in the 3rd quarter valued at $710,000. Penserra Capital Management LLC bought a new stake in shares of Doximity during the 3rd quarter valued at about $2,384,000. Los Angeles Capital Management LLC boosted its holdings in shares of Doximity by 6,242.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 650,874 shares of the company’s stock worth $28,359,000 after buying an additional 640,612 shares in the last quarter. Barclays PLC lifted its position in shares of Doximity by 60.5% during the 3rd quarter. Barclays PLC now owns 53,401 shares of the company’s stock valued at $2,327,000 after acquiring an additional 20,125 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its stake in Doximity by 139.2% during the third quarter. Oppenheimer & Co. Inc. now owns 35,635 shares of the company’s stock worth $1,553,000 after acquiring an additional 20,740 shares in the last quarter. Institutional investors and hedge funds own 87.19% of the company’s stock.

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.