Doximity (NASDAQ:DOCS) Stock Rating Upgraded by BTIG Research

BTIG Research upgraded shares of Doximity (NASDAQ:DOCS) from a neutral rating to a buy rating in a research report report published on Monday morning, Marketbeat.com reports. BTIG Research currently has $80.00 price objective on the stock.

A number of other research firms have also recently weighed in on DOCS. Truist Financial lowered their price objective on Doximity from $58.00 to $52.00 and set a “hold” rating for the company in a research report on Friday, May 16th. The Goldman Sachs Group set a $50.00 price objective on Doximity and gave the stock a “neutral” rating in a research report on Wednesday, May 21st. Wells Fargo & Company restated an “equal weight” rating on shares of Doximity in a research note on Friday, February 7th. Morgan Stanley reduced their target price on Doximity from $71.00 to $60.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Finally, Mizuho reduced their target price on Doximity from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, May 16th. Eleven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $62.84.

Doximity Trading Down 1.2%

Shares of NASDAQ DOCS opened at $51.47 on Monday. The stock has a market capitalization of $9.61 billion, a PE ratio of 51.47, a price-to-earnings-growth ratio of 4.10 and a beta of 1.41. The stock’s fifty day simple moving average is $54.91 and its two-hundred day simple moving average is $58.13. Doximity has a 12-month low of $25.00 and a 12-month high of $85.21.

Doximity (NASDAQ:DOCS) last posted its quarterly earnings data on Thursday, May 15th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates 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 was up 17.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.25 earnings per share. On average, equities analysts predict that Doximity will post 0.99 earnings per share for the current fiscal year.

Insider Transactions 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 stock was sold at an average price of $57.23, for a total value of $2,575,350.00. Following the sale, the chief financial officer now owns 357,165 shares of the company’s stock, 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 through this link. Also, Director Kira Scherer Wampler sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $56.93, for a total value of $113,860.00. Following the completion of the sale, the director now directly owns 16,618 shares in the company, valued at approximately $946,062.74. The trade was a 10.74% decrease in their position. The disclosure for this sale can be found here. Insiders own 37.40% of the company’s stock.

Institutional Trading of Doximity

A number of large investors have recently modified their holdings of DOCS. Global Retirement Partners LLC grew its stake in shares of Doximity by 468.1% during the fourth quarter. Global Retirement Partners LLC now owns 534 shares of the company’s stock worth $29,000 after purchasing an additional 440 shares in the last quarter. VSM Wealth Advisory LLC acquired a new position in shares of Doximity during the first quarter worth $29,000. Allworth Financial LP grew its stake in shares of Doximity by 104.0% during the first quarter. Allworth Financial LP now owns 563 shares of the company’s stock worth $32,000 after purchasing an additional 287 shares in the last quarter. National Bank of Canada FI acquired a new position in shares of Doximity during the first quarter worth $33,000. Finally, Spire Wealth Management grew its stake in shares of Doximity by 73.2% during the first quarter. Spire Wealth Management now owns 615 shares of the company’s stock worth $36,000 after purchasing an additional 260 shares in the last quarter. Hedge funds and other institutional investors 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.