Doximity (NASDAQ:DOCS) Lifted to “Strong-Buy” at Baird R W

Doximity (NASDAQ:DOCS) was upgraded by analysts at Baird R W to a “strong-buy” rating in a report released on Tuesday, Zacks.com reports.

Several other analysts have also weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Doximity from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Truist Financial reissued a “hold” rating and issued a $35.00 price target (up from $31.00) on shares of Doximity in a research report on Wednesday, August 14th. Morgan Stanley lifted their price objective on shares of Doximity from $25.00 to $26.00 and gave the stock an “underweight” rating in a report on Friday, August 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 Friday, August 9th. Finally, Robert W. Baird raised their price target on shares of Doximity from $41.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $32.42.

Doximity Price Performance

DOCS opened at $40.16 on Tuesday. Doximity has a fifty-two week low of $19.71 and a fifty-two week high of $40.92. The firm has a market capitalization of $7.45 billion, a price-to-earnings ratio of 55.78, a PEG ratio of 5.15 and a beta of 1.27. The company’s 50 day moving average price is $32.66 and its two-hundred day moving average price is $28.84.

Doximity (NASDAQ:DOCS) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.06. Doximity had a net margin of 32.53% and a return on equity of 19.26%. The firm had revenue of $126.68 million during the quarter, compared to analyst estimates of $119.88 million. As a group, equities research analysts predict that Doximity will post 0.8 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Anna Bryson sold 30,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $35.00, for a total transaction of $1,050,000.00. Following the completion of the transaction, the chief financial officer now directly owns 309,627 shares in the company, valued at approximately $10,836,945. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Doximity news, CFO Anna Bryson sold 30,000 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $35.00, for a total value of $1,050,000.00. Following the transaction, the chief financial officer now directly owns 309,627 shares in the company, valued at approximately $10,836,945. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kira Scherer Wampler sold 2,500 shares of Doximity stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $28.00, for a total value of $70,000.00. Following the sale, the director now owns 10,258 shares of the company’s stock, valued at approximately $287,224. The disclosure for this sale can be found here. Insiders have sold 37,951 shares of company stock worth $1,271,018 in the last three months. 39.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Doximity

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. LRI Investments LLC purchased a new stake in shares of Doximity during the 1st quarter valued at $27,000. Blue Trust Inc. lifted its stake in Doximity by 621.4% during the second quarter. Blue Trust Inc. now owns 1,385 shares of the company’s stock worth $37,000 after purchasing an additional 1,193 shares during the last quarter. Quarry LP boosted its holdings in shares of Doximity by 101.2% in the 2nd quarter. Quarry LP now owns 1,616 shares of the company’s stock worth $45,000 after purchasing an additional 131,253 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Doximity during the 1st quarter valued at about $46,000. Finally, First Horizon Advisors Inc. increased its position in shares of Doximity by 80.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,710 shares of the company’s stock valued at $48,000 after purchasing an additional 760 shares during the last quarter. Hedge funds and other institutional investors own 87.19% of the company’s stock.

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.