JPMorgan Chase & Co. Has Lowered Expectations for Doximity (NASDAQ:DOCS) Stock Price

Doximity (NASDAQ:DOCS - Get Free Report) had its target price decreased by investment analysts at JPMorgan Chase & Co. from $63.00 to $60.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target points to a potential upside of 14.91% from the stock's current price.

Several other brokerages also recently commented on DOCS. Wells Fargo & Company reiterated an "equal weight" rating on shares of Doximity in a report on Friday, February 7th. The Goldman Sachs Group set a $50.00 price target on shares of Doximity and gave the stock a "neutral" rating in a research note on Wednesday, May 21st. Needham & Company LLC dropped their target price on shares of Doximity from $82.00 to $67.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Leerink Partners upgraded shares of Doximity from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $60.00 to $90.00 in a research report on Friday, February 7th. Finally, KeyCorp decreased their price objective on shares of Doximity from $83.00 to $70.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Eleven analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Doximity presently has a consensus rating of "Moderate Buy" and an average target price of $61.89.

Doximity Trading Up 0.5%

NASDAQ DOCS traded up $0.28 during trading on Tuesday, reaching $52.22. The company's stock had a trading volume of 1,471,453 shares, compared to its average volume of 2,099,924. The stock has a market capitalization of $9.75 billion, a PE ratio of 52.22, a PEG ratio of 4.10 and a beta of 1.41. Doximity has a 1-year low of $25.00 and a 1-year high of $85.21. The business has a 50-day moving average price of $55.12 and a 200-day moving average price of $58.04.

Doximity (NASDAQ:DOCS - Get Free Report) last released its quarterly earnings data 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 net margin of 36.60% and a return on equity of 21.75%. The business's revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period last year, the firm posted $0.25 earnings per share. As a group, analysts expect that Doximity will post 0.99 earnings per share for the current year.

Insider Activity

In related news, Director Kira Scherer Wampler sold 2,000 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $56.93, for a total value of $113,860.00. Following the transaction, the director now directly owns 16,618 shares in the company, valued at $946,062.74. This represents a 10.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Anna Bryson sold 45,000 shares of Doximity stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $57.23, for a total transaction of $2,575,350.00. Following the sale, the chief financial officer now directly owns 357,165 shares of the company's stock, valued at $20,440,552.95. This represents a 11.19% decrease in their position. The disclosure for this sale can be found here. Insiders own 37.40% of the company's stock.

Institutional Trading of Doximity

Institutional investors and hedge funds have recently modified their holdings of the stock. Global Retirement Partners LLC increased its stake in Doximity by 468.1% in the fourth quarter. Global Retirement Partners LLC now owns 534 shares of the company's stock valued at $29,000 after purchasing an additional 440 shares in the last quarter. VSM Wealth Advisory LLC bought a new stake in shares of Doximity in the 1st quarter valued at $29,000. Allworth Financial LP raised its stake in Doximity by 104.0% during the 1st quarter. Allworth Financial LP now owns 563 shares of the company's stock worth $32,000 after buying an additional 287 shares during the period. National Bank of Canada FI bought a new position in Doximity during the first quarter worth about $33,000. Finally, Spire Wealth Management lifted its holdings in Doximity by 73.2% during the first quarter. Spire Wealth Management now owns 615 shares of the company's stock worth $36,000 after acquiring an additional 260 shares in the last quarter. 87.19% of the stock is owned by institutional investors.

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.