Doximity’s (DOCS) “Outperform” Rating Reiterated at Raymond James

Doximity (NASDAQ:DOCS)‘s stock had its “outperform” rating reissued by equities research analysts at Raymond James in a report issued on Friday,Benzinga reports. They presently have a $83.00 target price on the stock, up from their previous target price of $65.00. Raymond James’ price objective would suggest a potential upside of 3.71% from the company’s previous close.

DOCS has been the topic of several other research reports. Canaccord Genuity Group lowered Doximity from a “buy” rating to a “hold” rating and increased their price target for the company from $40.00 to $60.00 in a report on Wednesday, November 13th. Mizuho assumed coverage on Doximity in a report on Wednesday, December 4th. They set a “neutral” rating and a $55.00 target price for the company. JPMorgan Chase & Co. boosted their price objective on Doximity from $30.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Stephens initiated coverage on Doximity in a research note on Friday, December 20th. They issued an “equal weight” rating and a $55.00 price target on the stock. Finally, Needham & Company LLC upped their price target on Doximity from $65.00 to $82.00 and gave the company a “buy” rating in a research note on Friday. Twelve equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $61.83.

Doximity Trading Up 37.4 %

Doximity stock traded up $21.77 during midday trading on Friday, hitting $80.03. The stock had a trading volume of 6,763,176 shares, compared to its average volume of 1,758,698. Doximity has a 52-week low of $22.96 and a 52-week high of $80.71. The company has a market capitalization of $14.94 billion, a PE ratio of 91.54, a P/E/G ratio of 4.68 and a beta of 1.39. The firm’s fifty day moving average is $55.09 and its two-hundred day moving average is $45.31.

Doximity (NASDAQ:DOCS) last posted its quarterly earnings results 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 business had revenue of $136.83 million during the quarter, compared to the consensus estimate of $127.05 million. Doximity had a return on equity of 19.79% and a net margin of 33.69%. During the same quarter in the previous year, the company earned $0.18 earnings per share. As a group, equities research analysts predict that Doximity will post 0.88 earnings per share for the current fiscal year.

Insider Transactions at Doximity

In related news, Director Timothy S. Cabral sold 20,000 shares of the business’s 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 transaction, the director now owns 6,360 shares in the company, valued at approximately $366,463.20. The trade was a 75.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 37.40% of the company’s stock.

Institutional Trading of Doximity

Several institutional investors and hedge funds have recently bought and sold shares of DOCS. Global Retirement Partners LLC grew its holdings in Doximity by 468.1% in the 4th quarter. Global Retirement Partners LLC now owns 534 shares of the company’s stock worth $29,000 after buying an additional 440 shares in the last quarter. 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 valued at $31,000 after acquiring an additional 235 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of Doximity by 49.4% during the 4th quarter. Larson Financial Group LLC now owns 756 shares of the company’s stock valued at $40,000 after acquiring an additional 250 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Doximity by 324.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 789 shares of the company’s stock valued at $34,000 after acquiring an additional 603 shares during the last quarter. Finally, Morse Asset Management Inc purchased a new stake in shares of Doximity in the third quarter valued at $46,000. Institutional investors and hedge funds 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.