Doximity (NASDAQ:DOCS) Given New $55.00 Price Target at Wells Fargo & Company

Doximity (NASDAQ:DOCS) had its price objective boosted by Wells Fargo & Company from $43.00 to $55.00 in a research note published on Friday morning,Benzinga reports. They currently have an equal weight rating on the stock.

DOCS has been the subject of several other reports. Canaccord Genuity Group reiterated a “hold” rating and set a $60.00 price objective (up from $40.00) on shares of Doximity in a research report on Wednesday, November 13th. Stephens initiated coverage on Doximity in a research report on Friday, December 20th. They set an “equal weight” rating and a $55.00 price target for the company. Needham & Company LLC raised their price target on Doximity from $65.00 to $82.00 and gave the company a “buy” rating in a report on Friday. JPMorgan Chase & Co. upped their price objective on shares of Doximity from $30.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Finally, KeyCorp decreased their target price on shares of Doximity from $70.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Twelve equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $62.44.

Doximity Price Performance

Shares of NASDAQ DOCS opened at $78.97 on Friday. Doximity has a 1-year low of $22.96 and a 1-year high of $80.71. The firm has a market capitalization of $14.74 billion, a PE ratio of 90.77, a P/E/G ratio of 4.68 and a beta of 1.39. The business’s fifty day moving average price is $55.61 and its two-hundred day moving average price is $45.66.

Doximity (NASDAQ:DOCS) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.02). Doximity had a net margin of 33.69% and a return on equity of 19.79%. The firm had revenue of $136.83 million during the quarter, compared to the consensus estimate of $127.05 million. During the same quarter in the prior year, the business earned $0.18 earnings per share. Equities research analysts expect that Doximity will post 0.88 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Doximity news, Director Timothy S. Cabral sold 20,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $57.62, for a total value of $1,152,400.00. Following the completion of the transaction, the director now directly owns 6,360 shares in the company, valued at $366,463.20. This trade represents a 75.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 37.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Doximity

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DOCS. FMR LLC lifted its holdings in shares of Doximity by 30.5% in the third quarter. FMR LLC now owns 6,837,733 shares of the company’s stock valued at $297,920,000 after purchasing an additional 1,598,602 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in Doximity in the 3rd quarter worth about $29,453,000. Los Angeles Capital Management LLC lifted its stake in Doximity by 6,242.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 650,874 shares of the company’s stock worth $28,359,000 after acquiring an additional 640,612 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Doximity during the 3rd quarter worth about $24,691,000. Finally, Geode Capital Management LLC grew its stake in Doximity by 19.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,856,984 shares of the company’s stock valued at $124,503,000 after acquiring an additional 472,565 shares in the last quarter. Institutional investors and hedge funds 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.