Doximity (NASDAQ:DOCS) Shares Gap Up - What's Next?

Doximity, Inc. (NASDAQ:DOCS - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $61.47, but opened at $64.84. Doximity shares last traded at $63.72, with a volume of 372,284 shares.

Analyst Ratings Changes

DOCS has been the subject of several research analyst reports. Evercore ISI upgraded shares of Doximity from an "in-line" rating to an "outperform" rating and lifted their target price for the company from $50.00 to $70.00 in a research report on Wednesday. JPMorgan Chase & Co. dropped their price objective on shares of Doximity from $63.00 to $60.00 and set a "neutral" rating for the company in a report on Tuesday, May 27th. Bank of America increased their target price on Doximity from $55.00 to $62.00 and gave the company a "neutral" rating in a research note on Wednesday, June 25th. BTIG Research upgraded Doximity from a "neutral" rating to a "buy" rating and set a $80.00 price target on the stock in a research report on Monday, June 2nd. Finally, William Blair reiterated an "outperform" rating on shares of Doximity in a report on Friday, May 16th. Ten research 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 stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $64.42.

Doximity Stock Up 3.0%

The company's fifty day moving average is $57.13 and its two-hundred day moving average is $59.15. The stock has a market cap of $11.89 billion, a price-to-earnings ratio of 63.30, a PEG ratio of 4.10 and a beta of 1.37.

Doximity (NASDAQ:DOCS - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The company reported $0.38 earnings per share (EPS) for the quarter, topping 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 last year, the business earned $0.25 EPS. Sell-side analysts predict that Doximity, Inc. 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 firm'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. This trade represents a 61.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Regina M. Benjamin 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 value of $600,000.00. Following the completion of the sale, the director directly owned 16,618 shares in the company, valued at approximately $997,080. The trade was a 37.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,000 shares of company stock valued at $4,100,770. Company insiders own 37.40% of the company's stock.

Hedge Funds Weigh In On Doximity

Several institutional investors and hedge funds have recently made changes to their positions in the business. QSV Equity Investors LLC boosted its holdings in Doximity by 0.3% during the 4th quarter. QSV Equity Investors LLC now owns 60,763 shares of the company's stock valued at $3,244,000 after acquiring an additional 186 shares during the period. Amalgamated Bank boosted its stake in shares of Doximity by 0.3% during the 1st quarter. Amalgamated Bank now owns 60,928 shares of the company's stock valued at $3,536,000 after purchasing an additional 186 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Doximity by 0.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,978 shares of the company's stock valued at $2,262,000 after purchasing an additional 210 shares in the last quarter. Greenleaf Trust lifted its position in Doximity by 5.4% during the 1st quarter. Greenleaf Trust now owns 4,492 shares of the company's stock valued at $261,000 after acquiring an additional 230 shares during the period. Finally, Larson Financial Group LLC increased its position in Doximity by 49.4% during the 4th quarter. Larson Financial Group LLC now owns 756 shares of the company's stock valued at $40,000 after buying an additional 250 shares in the last quarter. 87.19% of the stock is currently owned by hedge funds and other 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.