Doximity (NASDAQ:DOCS) Raised to "Outperform" at 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 issued to investors on Wednesday, MarketBeat.com reports. Evercore ISI currently has $70.00 target price on the stock, up from their previous target price of $50.00.

A number of other equities research analysts also recently commented on the company. Mizuho cut their price objective on Doximity from $65.00 to $60.00 and set a "neutral" rating for the company in a research report on Friday, May 16th. Robert W. Baird decreased their price target on Doximity from $87.00 to $65.00 and set an "outperform" rating for the company in a research report on Tuesday, May 20th. Truist Financial cut their price objective on Doximity from $58.00 to $52.00 and set a "hold" rating on the stock in a report on Friday, May 16th. Morgan Stanley decreased their target price on shares of Doximity from $71.00 to $60.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Finally, Needham & Company LLC cut their price target on shares of Doximity from $82.00 to $67.00 and set a "buy" rating on the stock in a report on Friday, May 16th. Ten equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $64.42.

Doximity Price Performance

Shares of Doximity stock traded up $1.83 on Wednesday, hitting $63.30. The company had a trading volume of 1,906,742 shares, compared to its average volume of 2,167,538. Doximity has a 52 week low of $25.00 and a 52 week high of $85.21. The company has a market cap of $11.89 billion, a PE ratio of 63.30, a PEG ratio of 4.10 and a beta of 1.37. The business has a 50-day simple moving average of $57.00 and a 200-day simple moving average of $59.12.

Doximity (NASDAQ:DOCS - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The company reported $0.38 earnings per share (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 company's revenue was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 EPS. On average, equities research analysts predict that Doximity will post 0.99 earnings per share 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 stock in a transaction that occurred on 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 in the company, valued at $381,600. This trade represents a 61.12% decrease in their ownership of the stock. The sale 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 on Thursday, May 1st. The stock was sold at an average price of $56.93, for a total transaction of $113,860.00. Following the transaction, the director directly owned 16,618 shares of the company's stock, valued at approximately $946,062.74. This represents a 10.74% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,000 shares of company stock valued at $4,100,770. Corporate insiders own 37.40% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Doximity by 8.8% in the first quarter. Vanguard Group Inc. now owns 12,194,492 shares of the company's stock worth $707,646,000 after acquiring an additional 990,923 shares during the last quarter. FMR LLC raised its position in shares of Doximity by 37.6% during the fourth quarter. FMR LLC now owns 9,409,313 shares of the company's stock valued at $502,363,000 after buying an additional 2,571,580 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Doximity by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 2,952,442 shares of the company's stock valued at $157,668,000 after buying an additional 95,458 shares during the period. Loomis Sayles & Co. L P grew its position in Doximity by 2.7% during the fourth quarter. Loomis Sayles & Co. L P now owns 2,334,597 shares of the company's stock worth $124,644,000 after buying an additional 62,366 shares in the last quarter. Finally, Invesco Ltd. grew its position in Doximity by 54.8% during the first quarter. Invesco Ltd. now owns 1,969,326 shares of the company's stock worth $114,280,000 after buying an additional 696,923 shares in the last quarter. 87.19% of the stock is currently owned by institutional investors and hedge funds.

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.