Doximity (NASDAQ:DOCS) Stock Rating Upgraded by Evercore ISI

Evercore ISI upgraded shares of Doximity (NASDAQ:DOCS - Free Report) from an in-line rating to an outperform rating in a research note published on Wednesday morning, MarketBeat Ratings reports. Evercore ISI currently has $70.00 target price on the stock, up from their previous target price of $50.00.

DOCS has been the subject of a number of other research reports. Needham & Company LLC reduced their price target 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 research report on Friday, May 16th. Robert W. Baird decreased their price objective on shares of Doximity from $87.00 to $65.00 and set an "outperform" rating for the company in a report on Tuesday, May 20th. BTIG Research raised shares of Doximity from a "neutral" rating to a "buy" rating and set a $80.00 price objective for the company in a report on Monday, June 2nd. Finally, Canaccord Genuity Group decreased their price objective on shares of Doximity from $71.00 to $50.00 and set a "hold" rating for the company in a report on Friday, May 16th. Ten research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $64.42.

Doximity Price Performance

DOCS traded down $3.04 during midday trading on Wednesday, hitting $60.22. 1,705,606 shares of the company's stock traded hands, compared to its average volume of 2,174,828. The company has a market cap of $11.31 billion, a PE ratio of 60.22, a price-to-earnings-growth ratio of 4.10 and a beta of 1.37. The stock's fifty day simple moving average is $57.17 and its 200-day simple moving average is $59.17. Doximity has a one year low of $25.00 and a one year high of $85.21.

Doximity (NASDAQ:DOCS - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.11. Doximity had a net margin of 36.60% and a return on equity of 21.75%. During the same quarter last year, the firm earned $0.25 EPS. The business's revenue was up 17.1% compared to the same quarter last year. On average, research analysts expect that Doximity will post 0.99 EPS for the current year.

Insider Transactions at Doximity

In related news, Director Regina M. Benjamin sold 10,000 shares of the company's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $60.00, for a total value of $600,000.00. Following the completion of the transaction, the director directly owned 16,618 shares in the company, valued at approximately $997,080. This represents a 37.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Timothy S. Cabral sold 10,000 shares of the firm's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $60.00, for a total transaction of $600,000.00. Following the transaction, the director owned 6,360 shares of the company's stock, valued at approximately $381,600. This represents a 61.12% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,000 shares of company stock valued at $4,100,770. Company insiders own 37.40% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. VSM Wealth Advisory LLC acquired a new stake in shares of Doximity in the 1st quarter valued at $29,000. Allworth Financial LP boosted its stake in shares of Doximity by 104.0% in the 1st quarter. Allworth Financial LP now owns 563 shares of the company's stock valued at $32,000 after purchasing an additional 287 shares in the last quarter. National Bank of Canada FI acquired a new stake in shares of Doximity in the 1st quarter valued at $33,000. Spire Wealth Management boosted its stake in shares of Doximity by 73.2% in the 1st quarter. Spire Wealth Management now owns 615 shares of the company's stock valued at $36,000 after purchasing an additional 260 shares in the last quarter. Finally, Brooklyn Investment Group boosted its stake in shares of Doximity by 70.7% in the 1st quarter. Brooklyn Investment Group now owns 746 shares of the company's stock valued at $43,000 after purchasing an additional 309 shares in the last quarter. 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.