Doximity (NASDAQ:DOCS) Given New $65.00 Price Target at Mizuho

Doximity (NASDAQ:DOCS) had its target price upped by equities researchers at Mizuho from $55.00 to $65.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Mizuho’s target price suggests a potential downside of 23.15% from the stock’s previous close.

A number of other research analysts have also recently commented on the company. Leerink Partners raised Doximity from a “market perform” rating to an “outperform” rating and upped their target price for the company from $60.00 to $90.00 in a research note on Friday. 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 research note on Wednesday, January 8th. Barclays boosted their price objective 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. Canaccord Genuity Group lifted their price target on shares of Doximity from $60.00 to $71.00 and gave the company a “hold” rating in a research note on Friday. Finally, Stephens initiated coverage on Doximity in a report on Friday, December 20th. They set an “equal weight” rating and a $55.00 price objective on the stock. 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 company’s stock. According to data from MarketBeat.com, Doximity has an average rating of “Moderate Buy” and an average target price of $64.22.

Doximity Trading Up 6.8 %

DOCS stock traded up $5.35 during midday trading on Monday, reaching $84.58. 2,536,485 shares of the company’s stock traded hands, compared to its average volume of 1,933,044. The stock has a market cap of $15.79 billion, a P/E ratio of 85.06, a PEG ratio of 4.61 and a beta of 1.39. The stock’s 50-day moving average is $55.61 and its 200 day moving average is $45.91. Doximity has a 52-week low of $22.96 and a 52-week high of $84.95.

Doximity (NASDAQ:DOCS) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.02). Doximity had a net margin of 36.60% and a return on equity of 22.38%. The company had revenue of $136.83 million during the quarter, compared to the consensus estimate of $127.05 million. During the same quarter in the prior year, the firm posted $0.18 earnings per share. As a group, research analysts expect that Doximity will post 0.88 EPS for the current fiscal year.

Insider Buying and Selling

In other Doximity news, Director Timothy S. Cabral sold 20,000 shares of Doximity stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $57.62, for a total transaction of $1,152,400.00. Following the completion of the sale, the director now directly owns 6,360 shares in the company, valued at approximately $366,463.20. The trade was a 75.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 37.40% of the company’s stock.

Institutional Investors Weigh In On Doximity

A number of institutional investors have recently modified their holdings of the business. Fountainhead AM LLC purchased a new stake in Doximity in the 3rd quarter worth $710,000. Penserra Capital Management LLC purchased a new stake in shares of Doximity during the third quarter worth about $2,384,000. Los Angeles Capital Management LLC raised its position 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 purchasing an additional 640,612 shares during the last quarter. Barclays PLC lifted its stake in Doximity by 60.5% in the 3rd quarter. Barclays PLC now owns 53,401 shares of the company’s stock valued at $2,327,000 after buying an additional 20,125 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its stake in Doximity by 139.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 35,635 shares of the company’s stock worth $1,553,000 after buying an additional 20,740 shares in the last quarter. 87.19% of the stock is currently owned by institutional investors and hedge funds.

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.