William Blair Reaffirms "Outperform" Rating for Doximity (NASDAQ:DOCS)

Doximity (NASDAQ:DOCS - Get Free Report)'s stock had its "outperform" rating reiterated by stock analysts at William Blair in a report issued on Friday, RTT News reports.

Several other brokerages also recently commented on DOCS. Needham & Company LLC reiterated a "hold" rating on shares of Doximity in a report on Friday. SVB Leerink assumed coverage on shares of Doximity in a research note on Monday, February 26th. They issued a "market perform" rating and a $32.00 target price for the company. Morgan Stanley reaffirmed an "underweight" rating and set a $25.00 price target on shares of Doximity in a research note on Tuesday, April 23rd. Truist Financial boosted their price objective on shares of Doximity from $28.00 to $29.00 and gave the stock a "hold" rating in a report on Friday, February 9th. Finally, Evercore ISI raised their target price on Doximity from $28.00 to $29.00 and gave the company an "in-line" rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $28.73.

Doximity Trading Up 18.1 %

NASDAQ:DOCS traded up $4.29 during mid-day trading on Friday, hitting $28.03. The company had a trading volume of 9,867,164 shares, compared to its average volume of 1,799,228. The business has a fifty day simple moving average of $25.65 and a 200-day simple moving average of $26.38. The firm has a market capitalization of $5.23 billion, a price-to-earnings ratio of 41.82, a PEG ratio of 3.00 and a beta of 1.18. Doximity has a 1 year low of $19.71 and a 1 year high of $36.29.

Insider Buying and Selling

In related news, Director Kira Scherer Wampler sold 2,500 shares of the business's stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $27.22, for a total transaction of $68,050.00. Following the completion of the sale, the director now owns 10,258 shares of the company's stock, valued at approximately $279,222.76. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Kira Scherer Wampler sold 2,500 shares of the business's stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $27.22, for a total transaction of $68,050.00. Following the completion of the transaction, the director now owns 10,258 shares in the company, valued at approximately $279,222.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Craig Overpeck sold 1,500 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $23.85, for a total value of $35,775.00. Following the completion of the sale, the insider now directly owns 108,609 shares in the company, valued at $2,590,324.65. The disclosure for this sale can be found here. Insiders have sold 6,500 shares of company stock worth $171,250 over the last ninety days. 39.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of DOCS. Vanguard Group Inc. raised its holdings in shares of Doximity by 5.9% during the third quarter. Vanguard Group Inc. now owns 11,038,475 shares of the company's stock valued at $234,236,000 after buying an additional 616,157 shares during the last quarter. Baillie Gifford & Co. raised its stake in Doximity by 0.9% during the 3rd quarter. Baillie Gifford & Co. now owns 6,656,242 shares of the company's stock valued at $141,245,000 after acquiring an additional 57,078 shares in the last quarter. William Blair Investment Management LLC acquired a new position in Doximity during the 1st quarter worth $148,823,000. Janus Henderson Group PLC grew its stake in shares of Doximity by 33.5% in the first quarter. Janus Henderson Group PLC now owns 2,474,695 shares of the company's stock worth $66,594,000 after purchasing an additional 621,590 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. grew its stake in shares of Doximity by 15.1% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 2,302,240 shares of the company's stock worth $64,555,000 after purchasing an additional 301,290 shares in the last quarter. 87.19% of the stock is owned by institutional investors and hedge funds.

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.