KeyCorp Forecasts Strong Price Appreciation for Doximity (NASDAQ:DOCS) Stock

Doximity (NASDAQ:DOCS - Free Report) had its target price boosted by KeyCorp from $65.00 to $70.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research firms also recently commented on DOCS. The Goldman Sachs Group set a $50.00 price objective on Doximity and gave the company a "neutral" rating in a report on Wednesday, May 21st. Robert W. Baird dropped their price target on Doximity from $87.00 to $65.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 20th. William Blair restated an "outperform" rating on shares of Doximity in a research note on Friday, May 16th. 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 note on Monday, June 2nd. Finally, Needham & Company LLC dropped their price target on Doximity from $82.00 to $67.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Ten 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 data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $64.89.

Doximity Price Performance

NASDAQ:DOCS traded down $0.82 during trading hours on Monday, reaching $61.60. 1,845,462 shares of the stock were exchanged, compared to its average volume of 2,183,039. Doximity has a twelve month low of $25.00 and a twelve month high of $85.21. The firm has a 50 day moving average of $57.45 and a 200 day moving average of $59.31. The stock has a market cap of $11.57 billion, a PE ratio of 61.60, a PEG ratio of 4.10 and a beta of 1.37.

Doximity (NASDAQ:DOCS - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The company reported $0.38 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% on a year-over-year basis. During the same period in the prior year, the firm posted $0.25 earnings per share. Equities research analysts anticipate that Doximity will post 0.99 earnings per share for the current year.

Insider Transactions at Doximity

In related news, Director Regina M. Benjamin sold 10,000 shares of the firm's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $60.00, for a total value of $600,000.00. Following the transaction, the director owned 16,618 shares in the company, valued at approximately $997,080. This trade represents a 37.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Timothy S. Cabral sold 10,000 shares of the firm's stock in a transaction on 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 transaction, the director owned 6,360 shares in the company, valued at $381,600. The trade was a 61.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,000 shares of company stock worth $4,400,970 over the last quarter. 37.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. VSM Wealth Advisory LLC bought a new position in shares of Doximity in the first quarter worth $29,000. Allworth Financial LP increased its position in shares of Doximity by 104.0% in the first quarter. Allworth Financial LP now owns 563 shares of the company's stock worth $32,000 after purchasing an additional 287 shares during the period. National Bank of Canada FI bought a new position in shares of Doximity in the first quarter worth $33,000. Spire Wealth Management increased its position in shares of Doximity by 73.2% in the first quarter. Spire Wealth Management now owns 615 shares of the company's stock worth $36,000 after purchasing an additional 260 shares during the period. Finally, Optimum Investment Advisors bought a new position in shares of Doximity in the fourth quarter worth $43,000. Institutional investors own 87.19% of the company's stock.

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.