Doximity (NASDAQ:DOCS) Sets New 12-Month High After Analyst Upgrade

by · The Markets Daily

Doximity, Inc. (NASDAQ:DOCS – Get Free Report)’s stock price reached a new 52-week high on Monday after Evercore ISI raised their price target on the stock from $34.00 to $45.00. Evercore ISI currently has an in-line rating on the stock. Doximity traded as high as $44.57 and last traded at $44.57, with a volume of 6981 shares changing hands. The stock had previously closed at $43.83.

A number of other equities research analysts also recently weighed in on the company. Wells Fargo & Company downgraded Doximity from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $27.00 to $19.00 in a report on Thursday, July 18th. Morgan Stanley upped their target price on shares of Doximity from $25.00 to $26.00 and gave the stock an “underweight” rating in a report on Friday, August 9th. Bank of America upped their price target on Doximity from $32.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday. JPMorgan Chase & Co. boosted their price target on shares of Doximity from $27.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $35.00 target price (up from $31.00) on shares of Doximity in a report on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $34.42.

Get Our Latest Stock Report on Doximity

Insiders Place Their Bets

In related news, CFO Anna Bryson sold 30,000 shares of Doximity stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $35.00, for a total transaction of $1,050,000.00. Following the completion of the transaction, the chief financial officer now directly owns 309,627 shares of the company’s stock, valued at $10,836,945. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Watkin Phoebe L. Yang sold 1,011 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $25.54, for a total value of $25,820.94. Following the transaction, the director now directly owns 11,258 shares of the company’s stock, valued at approximately $287,529.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Anna Bryson sold 30,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $35.00, for a total transaction of $1,050,000.00. Following the sale, the chief financial officer now directly owns 309,627 shares in the company, valued at approximately $10,836,945. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,451 shares of company stock worth $1,201,018. 39.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Doximity

A number of large investors have recently made changes to their positions in the company. Bayesian Capital Management LP purchased a new stake in Doximity in the 4th quarter worth approximately $3,390,000. G2 Investment Partners Management LLC purchased a new stake in shares of Doximity during the fourth quarter valued at $2,386,000. Apella Capital LLC increased its stake in Doximity by 19.4% in the 1st quarter. Apella Capital LLC now owns 46,843 shares of the company’s stock worth $1,238,000 after buying an additional 7,626 shares during the period. RFG Advisory LLC boosted its holdings in shares of Doximity by 6.0% in the first quarter. RFG Advisory LLC now owns 24,726 shares of the company’s stock valued at $665,000 after purchasing an additional 1,401 shares during the period. Finally, Oak Thistle LLC purchased a new stake in shares of Doximity in the 1st quarter worth $323,000. 87.19% of the stock is currently owned by institutional investors.

Doximity Price Performance

The company has a market capitalization of $8.22 billion, a PE ratio of 61.56, a price-to-earnings-growth ratio of 5.80 and a beta of 1.29. The company’s fifty day moving average is $36.65 and its 200-day moving average is $30.24.

Doximity (NASDAQ:DOCS – Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. The company had revenue of $126.68 million during the quarter, compared to analysts’ expectations of $119.88 million. Doximity had a return on equity of 19.26% and a net margin of 32.53%. Equities research analysts forecast that Doximity, Inc. will post 0.8 EPS for the current fiscal year.

Doximity Company Profile

(Get Free Report)

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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