Doximity (NASDAQ:DOCS) Upgraded by BTIG Research to "Buy" Rating

BTIG Research upgraded shares of Doximity (NASDAQ:DOCS - Free Report) from a neutral rating to a buy rating in a report issued on Monday, MarketBeat.com reports. They currently have $80.00 target price on the stock.

DOCS has been the subject of a number of other research reports. Mizuho lowered their price target on shares of Doximity from $65.00 to $60.00 and set a "neutral" rating for the company in a report on Friday, May 16th. Leerink Partners upgraded Doximity from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $60.00 to $90.00 in a report on Friday, February 7th. Wells Fargo & Company restated an "equal weight" rating on shares of Doximity in a research note on Friday, February 7th. Raymond James decreased their price objective on Doximity from $83.00 to $65.00 and set an "outperform" rating for the company in a report on Friday, May 16th. Finally, Canaccord Genuity Group reduced their price target on Doximity from $71.00 to $50.00 and set a "hold" rating for the company in a report on Friday, May 16th. Eleven research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $62.84.

Doximity Trading Up 4.7%

Shares of DOCS traded up $2.58 during midday trading on Monday, hitting $57.15. The stock had a trading volume of 1,202,289 shares, compared to its average volume of 2,109,950. The firm has a market cap of $10.73 billion, a P/E ratio of 57.20, a price-to-earnings-growth ratio of 4.10 and a beta of 1.32. Doximity has a fifty-two week low of $25.00 and a fifty-two week high of $85.21. The business has a 50-day simple moving average of $54.70 and a two-hundred day simple moving average of $58.08.

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

Insider Buying and Selling at Doximity

In related news, CFO Anna Bryson sold 45,000 shares of the business's stock in a transaction 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 in the company, valued at approximately $20,440,552.95. The trade was a 11.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kira Scherer Wampler sold 2,000 shares of the stock in a transaction 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 owns 16,618 shares in the company, valued at approximately $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. In the last quarter, insiders sold 51,000 shares of company stock worth $2,900,770. Insiders own 37.40% of the company's stock.

Institutional Trading of Doximity

A number of hedge funds have recently added to or reduced their stakes in the stock. Shaker Investments LLC OH acquired a new position in shares of Doximity during the 4th quarter worth $559,000. Principal Financial Group Inc. grew its holdings in shares of Doximity by 1.5% during the 4th quarter. Principal Financial Group Inc. now owns 293,974 shares of the company's stock worth $15,695,000 after purchasing an additional 4,282 shares during the period. Newbridge Financial Services Group Inc. purchased a new stake in shares of Doximity during the 4th quarter worth about $362,000. Stratos Wealth Partners LTD. acquired a new position in shares of Doximity during the fourth quarter worth about $203,000. Finally, Wells Fargo & Company MN boosted its holdings in Doximity by 3.3% in the 4th quarter. Wells Fargo & Company MN now owns 368,941 shares of the company's stock worth $19,698,000 after acquiring an additional 11,811 shares during the period. 87.19% of the stock is owned by institutional investors and hedge funds.

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.