Doximity (NASDAQ:DOCS) Upgraded to "Neutral" at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Doximity (NASDAQ:DOCS - Free Report) from an underweight rating to a neutral rating in a report published on Thursday morning, MarketBeat.com reports. The brokerage currently has $25.00 price objective on the stock.

A number of other analysts have also weighed in on DOCS. Wells Fargo & Company upped their target price on shares of Doximity from $25.00 to $27.00 and gave the stock an equal weight rating in a research note on Friday, February 9th. Bank of America upped their target price on shares of Doximity from $29.00 to $32.00 and gave the stock a neutral rating in a research note on Tuesday, January 23rd. Truist Financial upped their target price on shares of Doximity from $28.00 to $29.00 and gave the stock a hold rating in a research note on Friday, February 9th. SVB Leerink began coverage on shares of Doximity in a research note on Monday, February 26th. They set a market perform rating and a $32.00 target price on the stock. Finally, Evercore ISI restated an in-line rating and set a $30.00 target price on shares of Doximity in a research note on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $28.82.

Doximity Stock Performance

Shares of DOCS traded down $0.32 during mid-day trading on Thursday, hitting $23.59. 2,225,503 shares of the company's stock were exchanged, compared to its average volume of 1,751,095. The company has a market cap of $4.40 billion, a price-to-earnings ratio of 35.74, a P/E/G ratio of 3.09 and a beta of 1.17. Doximity has a fifty-two week low of $19.71 and a fifty-two week high of $36.92. The stock's 50-day moving average is $27.08 and its 200-day moving average is $26.17.

Doximity (NASDAQ:DOCS - Get Free Report) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.06. The business had revenue of $135.28 million for the quarter, compared to analysts' expectations of $127.46 million. Doximity had a net margin of 29.39% and a return on equity of 16.08%. As a group, equities research analysts anticipate that Doximity will post 0.72 EPS for the current year.

Insider Activity

In other news, Director Kira Scherer Wampler sold 2,500 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $26.97, for a total value of $67,425.00. Following the completion of the sale, the director now directly owns 10,258 shares of the company's stock, valued at $276,658.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 39.40% of the company's stock.

Institutional Investors Weigh In On Doximity

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Doximity by 5.9% in the third quarter. Vanguard Group Inc. now owns 11,038,475 shares of the company's stock valued at $234,236,000 after acquiring an additional 616,157 shares during the period. Baillie Gifford & Co. lifted its holdings in shares of Doximity by 0.9% during the third quarter. Baillie Gifford & Co. now owns 6,656,242 shares of the company's stock worth $141,245,000 after purchasing an additional 57,078 shares during the period. Edmond DE Rothschild Holding S.A. lifted its holdings in shares of Doximity by 15.1% during 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 during the period. Norges Bank acquired a new stake in shares of Doximity during the fourth quarter worth $35,995,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Doximity by 9.6% during the third quarter. Bank of New York Mellon Corp now owns 1,229,750 shares of the company's stock worth $26,095,000 after purchasing an additional 107,776 shares during the period. 87.19% of the stock is owned by institutional investors and hedge funds.

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.