Doximity (NASDAQ:DOCS) Upgraded by Leerink Partnrs to “Strong-Buy” Rating

Leerink Partnrs upgraded shares of Doximity (NASDAQ:DOCS) from a hold rating to a strong-buy rating in a report issued on Friday morning,Zacks.com reports.

Other equities research analysts have also issued research reports about the company. Barclays upped their target price on Doximity from $52.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Wells Fargo & Company raised their price objective on shares of Doximity from $43.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Friday. KeyCorp dropped their target price on shares of Doximity from $70.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Truist Financial raised their price target on shares of Doximity from $35.00 to $49.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Finally, Raymond James reiterated an “outperform” rating and set a $83.00 price objective (up previously from $65.00) on shares of Doximity in a report on Friday. Eleven investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Doximity has a consensus rating of “Moderate Buy” and a consensus target price of $62.44.

Doximity Stock Performance

NASDAQ:DOCS opened at $78.97 on Friday. Doximity has a 52 week low of $22.96 and a 52 week high of $80.71. The firm’s fifty day moving average is $55.61 and its 200-day moving average is $45.66. The firm has a market cap of $14.74 billion, a P/E ratio of 90.77, a P/E/G ratio of 4.68 and a beta of 1.39.

Doximity (NASDAQ:DOCS) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $127.05 million. During the same period last year, the company posted $0.18 EPS. As a group, sell-side analysts anticipate that Doximity will post 0.88 earnings per share for the current year.

Insider Buying and Selling at Doximity

In other news, Director Timothy S. Cabral sold 20,000 shares of the business’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 transaction, the director now owns 6,360 shares in the company, valued at $366,463.20. The trade was a 75.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 37.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Global Retirement Partners LLC boosted its position in Doximity by 468.1% during the fourth quarter. Global Retirement Partners LLC now owns 534 shares of the company’s stock worth $29,000 after purchasing an additional 440 shares during the period. UMB Bank n.a. boosted its stake in Doximity by 69.1% in the fourth quarter. UMB Bank n.a. now owns 575 shares of the company’s stock worth $31,000 after buying an additional 235 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Doximity by 324.2% in the third quarter. Farther Finance Advisors LLC now owns 789 shares of the company’s stock worth $34,000 after buying an additional 603 shares during the period. Larson Financial Group LLC increased its stake in shares of Doximity by 49.4% in the fourth quarter. Larson Financial Group LLC now owns 756 shares of the company’s stock worth $40,000 after buying an additional 250 shares during the period. Finally, Morse Asset Management Inc bought a new position in Doximity during the 3rd quarter valued at approximately $46,000. 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.