Doximity (NASDAQ:DOCS) Rating Increased 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 report released on Wednesday morning, MarketBeat.com reports. Evercore ISI currently has $70.00 price objective on the stock, up from their previous price objective of $50.00.

Other research analysts have also recently issued research reports about the company. Mizuho reduced their target price on Doximity from $65.00 to $60.00 and set a "neutral" rating on the stock in a report on Friday, May 16th. JPMorgan Chase & Co. reduced their target price on Doximity from $63.00 to $60.00 and set a "neutral" rating on the stock in a report on Tuesday, May 27th. William Blair reiterated an "outperform" rating on shares of Doximity in a report on Friday, May 16th. Raymond James Financial reduced their price objective on Doximity from $83.00 to $65.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Finally, Morgan Stanley reduced their price objective on Doximity from $71.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Ten research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.42.

Doximity Stock Down 3.3%

Shares of DOCS stock traded down $2.11 during mid-day trading on Wednesday, hitting $61.15. 595,238 shares of the company's stock were exchanged, compared to its average volume of 2,450,777. Doximity has a fifty-two week low of $25.00 and a fifty-two week high of $85.21. The stock has a 50-day simple moving average of $57.13 and a two-hundred day simple moving average of $59.15. The stock has a market cap of $11.49 billion, a price-to-earnings ratio of 61.20, a PEG ratio of 4.10 and a beta of 1.37.

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

Insider Activity

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 transaction of $600,000.00. Following the sale, the director directly owned 6,360 shares of the company's stock, valued at $381,600. The trade was a 61.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Anna Bryson sold 45,000 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $57.23, for a total transaction of $2,575,350.00. Following the completion of the sale, the chief financial officer directly owned 357,165 shares in the company, valued at approximately $20,440,552.95. The trade was a 11.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,000 shares of company stock worth $4,100,770 over the last quarter. Corporate insiders own 37.40% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DOCS. VSM Wealth Advisory LLC acquired a new position in shares of Doximity during the 1st quarter worth approximately $29,000. Allworth Financial LP grew its position in shares of Doximity by 104.0% during the 1st quarter. Allworth Financial LP now owns 563 shares of the company's stock worth $32,000 after purchasing an additional 287 shares in the last quarter. National Bank of Canada FI acquired a new position in shares of Doximity during the 1st quarter worth approximately $33,000. Spire Wealth Management grew its position in shares of Doximity by 73.2% during the 1st quarter. Spire Wealth Management now owns 615 shares of the company's stock worth $36,000 after purchasing an additional 260 shares in the last quarter. Finally, Larson Financial Group LLC grew its position in shares of Doximity by 49.4% during the 4th quarter. Larson Financial Group LLC now owns 756 shares of the company's stock worth $40,000 after purchasing an additional 250 shares in the last quarter. 87.19% of the stock is owned by institutional investors.

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.