Raymond James Financial Inc. Increases Stock Holdings in Doximity, Inc. $DOCS

Key Points

• Raymond James Financial Inc. increased its stake in Doximity, Inc. by 11.9% during Q1, holding a total of 194,809 shares worth approximately $11.3 million.
• Doximity reported a 15.2% increase in revenue compared to the same quarter last year, achieving earnings per share of $0.36, exceeding analysts' expectations.
• Several analysts have recently upgraded their ratings for Doximity, with BTIG Research setting a target price of $80.00 and a majority rating the stock as a Moderate Buy.

Raymond James Financial Inc. lifted its position in Doximity, Inc. (NASDAQ:DOCS - Free Report) by 11.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 194,809 shares of the company's stock after acquiring an additional 20,717 shares during the period. Raymond James Financial Inc. owned 0.10% of Doximity worth $11,305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Doximity by 8.8% during the 1st quarter. Vanguard Group Inc. now owns 12,194,492 shares of the company's stock worth $707,646,000 after purchasing an additional 990,923 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Doximity by 54.8% in 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. Northern Trust Corp lifted its stake in shares of Doximity by 9.4% in the fourth quarter. Northern Trust Corp now owns 1,459,185 shares of the company's stock worth $77,906,000 after buying an additional 125,332 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Doximity by 8.2% during the first quarter. Bank of New York Mellon Corp now owns 1,137,912 shares of the company's stock worth $66,033,000 after acquiring an additional 86,135 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Doximity during the first quarter worth about $65,702,000. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Doximity

In other news, Director Regina M. Benjamin sold 5,000 shares of the business's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $63.00, for a total value of $315,000.00. Following the sale, the director directly owned 16,618 shares of the company's stock, valued at approximately $1,046,934. The trade was a 23.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Timothy S. Cabral sold 10,000 shares of the company's 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 completion of the transaction, the director owned 6,360 shares in the company, valued at approximately $381,600. This represents a 61.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,000 shares of company stock worth $1,929,380 over the last three months. Insiders own 31.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on DOCS. BTIG Research upgraded 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. Bank of America increased their price target on Doximity from $55.00 to $62.00 and gave the company a "neutral" rating in a report on Wednesday, June 25th. Wells Fargo & Company boosted their price objective on Doximity from $55.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Monday, August 4th. Piper Sandler upped their target price on Doximity from $65.00 to $69.00 and gave the company an "overweight" rating in a report on Monday, August 11th. Finally, Canaccord Genuity Group lifted their price target on Doximity from $50.00 to $59.00 and gave the stock a "hold" rating in a report on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $66.21.

Doximity Stock Up 2.0%

NASDAQ:DOCS traded up $1.33 on Thursday, reaching $68.63. The company's stock had a trading volume of 211,593 shares, compared to its average volume of 2,261,451. Doximity, Inc. has a 12-month low of $35.32 and a 12-month high of $85.21. The stock has a 50 day moving average price of $62.34 and a 200 day moving average price of $60.17. The firm has a market cap of $12.85 billion, a price-to-earnings ratio of 68.61, a price-to-earnings-growth ratio of 4.10 and a beta of 1.37.

Doximity (NASDAQ:DOCS - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.05. Doximity had a return on equity of 21.75% and a net margin of 36.60%.The company's revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.28 earnings per share. Doximity has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. Equities research analysts expect that Doximity, Inc. will post 0.99 EPS for the current fiscal year.

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.