Doximity (NASDAQ:DOCS – Get Free Report) had its price objective dropped by investment analysts at JPMorgan Chase & Co. from $63.00 to $60.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 16.30% from the stock’s current price.
A number of other analysts also recently issued reports on DOCS. Leerink Partners raised Doximity from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $60.00 to $90.00 in a research report on Friday, February 7th. Needham & Company LLC cut their price objective on Doximity from $82.00 to $67.00 and set a “buy” rating for the company in a research report on Friday, May 16th. William Blair reaffirmed an “outperform” rating on shares of Doximity in a report on Friday, May 16th. Leerink Partnrs upgraded Doximity from a “hold” rating to a “strong-buy” rating in a report on Friday, February 7th. Finally, Mizuho decreased their target price on Doximity from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, May 16th. Eleven analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Doximity presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.89.
Get Our Latest Stock Analysis on DOCS
Doximity Price Performance
Doximity (NASDAQ:DOCS – Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.11. Doximity had a return on equity of 21.75% and a net margin of 36.60%. Doximity’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.25 EPS. Equities analysts anticipate that Doximity will post 0.99 EPS for the current year.
Insider Activity at Doximity
In other Doximity news, CFO Anna Bryson sold 45,000 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $57.23, for a total transaction of $2,575,350.00. Following the completion of the transaction, the chief financial officer now directly owns 357,165 shares in the company, valued at $20,440,552.95. The trade was a 11.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kira Scherer Wampler sold 2,000 shares of the company’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $56.93, for a total value of $113,860.00. Following the sale, the director now owns 16,618 shares of the company’s stock, valued at $946,062.74. The trade was a 10.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. 37.40% of the stock is owned by insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Doximity by 8.8% in the 1st quarter. Vanguard Group Inc. now owns 12,194,492 shares of the company’s stock valued at $707,646,000 after acquiring an additional 990,923 shares during the last quarter. FMR LLC boosted its position in Doximity by 37.6% during the fourth quarter. FMR LLC now owns 9,409,313 shares of the company’s stock valued at $502,363,000 after acquiring an additional 2,571,580 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Doximity by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 2,952,442 shares of the company’s stock valued at $157,668,000 after purchasing an additional 95,458 shares in the last quarter. Loomis Sayles & Co. L P grew its stake in Doximity by 2.7% during the fourth quarter. Loomis Sayles & Co. L P now owns 2,334,597 shares of the company’s stock worth $124,644,000 after purchasing an additional 62,366 shares during the period. Finally, Invesco Ltd. lifted its position in shares of Doximity by 54.8% during the 1st quarter. Invesco Ltd. now owns 1,969,326 shares of the company’s stock valued at $114,280,000 after acquiring an additional 696,923 shares during the period. Institutional investors 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.
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