Doximity (NASDAQ:DOCS) Price Target Raised to $61.00 at Truist Financial

Doximity (NASDAQ:DOCS - Get Free Report) had its price objective lifted by investment analysts at Truist Financial from $52.00 to $61.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "hold" rating on the stock. Truist Financial's target price indicates a potential downside of 0.97% from the company's previous close.

Several other research firms also recently commented on DOCS. Morgan Stanley reduced their price objective 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. Robert W. Baird lowered their price target on Doximity from $87.00 to $65.00 and set an "outperform" rating on the stock in a report on Tuesday, May 20th. William Blair restated an "outperform" rating on shares of Doximity in a report on Friday, May 16th. Bank of America raised their price target on shares of Doximity from $55.00 to $62.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 25th. Finally, Evercore ISI raised Doximity from an "in-line" rating to an "outperform" rating and increased their price target for the stock from $50.00 to $70.00 in a research note on Wednesday, July 9th. Ten investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $64.89.

Doximity Trading Down 1.3%

DOCS stock traded down $0.82 during midday trading on Thursday, hitting $61.60. 1,845,462 shares of the company's stock were exchanged, compared to its average volume of 2,183,039. The business has a 50-day simple moving average of $57.45 and a two-hundred day simple moving average of $59.31. The stock has a market capitalization of $11.57 billion, a PE ratio of 61.60, a P/E/G ratio of 4.10 and a beta of 1.37. Doximity has a 1-year low of $25.00 and a 1-year high of $85.21.

Doximity (NASDAQ:DOCS - Get Free Report) last released its earnings results on Thursday, May 15th. The company reported $0.38 earnings per share (EPS) for the quarter, beating 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%. The business's revenue for the quarter was up 17.1% on a year-over-year basis. During the same period last year, the firm earned $0.25 earnings per share. As a group, research analysts expect that Doximity will post 0.99 EPS for the current fiscal year.

Insider Buying and Selling at Doximity

In other Doximity news, Director Timothy S. Cabral sold 10,000 shares of the business's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $60.00, for a total value of $600,000.00. Following the completion of the sale, the director owned 6,360 shares of the company's stock, valued at $381,600. The trade was a 61.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kira Scherer Wampler sold 2,000 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $52.89, for a total transaction of $105,780.00. Following the completion of the sale, the director directly owned 16,618 shares of the company's stock, valued at $878,926.02. This represents a 10.74% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 76,000 shares of company stock valued at $4,400,970. Corporate insiders own 37.40% of the company's stock.

Institutional Trading of Doximity

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Fort Washington Investment Advisors Inc. OH increased its position in Doximity by 20.8% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 257,641 shares of the company's stock valued at $15,804,000 after acquiring an additional 44,311 shares during the period. Public Employees Retirement System of Ohio grew its holdings in Doximity by 4.8% in the second quarter. Public Employees Retirement System of Ohio now owns 40,539 shares of the company's stock worth $2,487,000 after purchasing an additional 1,862 shares during the period. GAMMA Investing LLC grew its holdings in shares of Doximity by 5.9% during the second quarter. GAMMA Investing LLC now owns 2,981 shares of the company's stock valued at $183,000 after buying an additional 165 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Doximity by 3.0% during the second quarter. Exchange Traded Concepts LLC now owns 14,945 shares of the company's stock valued at $917,000 after buying an additional 442 shares during the last quarter. Finally, Family Legacy Financial Solutions LLC acquired a new position in shares of Doximity during the second quarter valued at about $1,459,000. 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.