Doximity (NASDAQ:DOCS) Shares Up 6.7% on Analyst Upgrade

Doximity, Inc. (NASDAQ:DOCS)’s share price rose 6.7% during trading on Monday after Mizuho raised their price target on the stock from $55.00 to $65.00. Mizuho currently has a neutral rating on the stock. Doximity traded as high as $84.73 and last traded at $84.53. Approximately 1,721,454 shares were traded during trading, a decline of 9% from the average daily volume of 1,898,433 shares. The stock had previously closed at $79.23.

DOCS has been the topic of several other research reports. Wells Fargo & Company increased their target price on Doximity from $43.00 to $55.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. Morgan Stanley raised shares of Doximity from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $33.00 to $53.00 in a research note on Thursday, November 14th. Piper Sandler raised shares of Doximity from a “neutral” rating to an “overweight” rating and upped their target price for the company from $31.00 to $78.00 in a research note on Friday, February 7th. Raymond James reissued an “outperform” rating and set a $83.00 price target (up from $65.00) on shares of Doximity in a research report on Friday, February 7th. Finally, The Goldman Sachs Group upped their price objective on shares of Doximity from $58.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday. Eleven research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Doximity currently has a consensus rating of “Moderate Buy” and an average target price of $64.22.

Insider Buying and Selling at Doximity

In other Doximity news, Director Timothy S. Cabral sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 37.40% of the company’s stock.

Institutional Investors Weigh In On Doximity

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Doximity by 4.5% during the fourth quarter. Vanguard Group Inc. now owns 11,203,569 shares of the company’s stock worth $598,159,000 after buying an additional 485,102 shares during the last quarter. LPL Financial LLC grew its position in shares of Doximity by 5.5% in the 4th quarter. LPL Financial LLC now owns 75,757 shares of the company’s stock valued at $4,045,000 after acquiring an additional 3,967 shares during the period. Optimum Investment Advisors acquired a new position in shares of Doximity during the 4th quarter worth about $43,000. KLP Kapitalforvaltning AS bought a new stake in shares of Doximity in the 4th quarter valued at about $2,258,000. Finally, AXQ Capital LP acquired a new stake in Doximity in the 4th quarter valued at about $863,000. Institutional investors and hedge funds own 87.19% of the company’s stock.

Doximity Stock Down 9.9 %

The business has a fifty day moving average of $56.61 and a 200 day moving average of $46.63. The firm has a market cap of $13.98 billion, a P/E ratio of 74.91, a PEG ratio of 4.61 and a beta of 1.39.

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.