Lebenthal Global Advisors LLC Takes $330,000 Position in Doximity, Inc. (NASDAQ:DOCS)

Lebenthal Global Advisors LLC bought a new position in Doximity, Inc. (NASDAQ:DOCS) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,180 shares of the company’s stock, valued at approximately $330,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. increased its stake in Doximity by 69.1% during the fourth quarter. UMB Bank n.a. now owns 575 shares of the company’s stock worth $31,000 after acquiring an additional 235 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Doximity by 324.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 789 shares of the company’s stock worth $34,000 after purchasing an additional 603 shares during the period. Quarry LP grew its holdings in shares of Doximity by 101.2% during 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 during the period. Morse Asset Management Inc acquired a new stake in Doximity during the 3rd quarter worth approximately $46,000. Finally, GAMMA Investing LLC raised its holdings in Doximity by 40.1% in the third quarter. GAMMA Investing LLC now owns 1,439 shares of the company’s stock valued at $63,000 after buying an additional 412 shares during the period. Institutional investors and hedge funds own 87.19% of the company’s stock.

Wall Street Analyst Weigh In

DOCS has been the subject of several research reports. Barclays boosted their price objective on shares of Doximity from $52.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Evercore ISI upped their price target on shares of Doximity from $34.00 to $45.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 8th. Canaccord Genuity Group lowered Doximity from a “buy” rating to a “hold” rating and raised their price objective for the company from $40.00 to $60.00 in a research report on Wednesday, November 13th. Morgan Stanley raised Doximity from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $33.00 to $53.00 in a research report on Thursday, November 14th. Finally, The Goldman Sachs Group initiated coverage on Doximity in a report on Friday, November 15th. They set a “neutral” rating and a $58.00 target price on the stock. Thirteen investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Doximity has an average rating of “Hold” and an average price target of $53.12.

Doximity Stock Performance

Shares of Doximity stock opened at $57.17 on Wednesday. Doximity, Inc. has a 1 year low of $22.96 and a 1 year high of $61.75. The firm’s 50-day simple moving average is $53.98 and its 200-day simple moving average is $44.06. The firm has a market cap of $10.67 billion, a PE ratio of 65.71, a price-to-earnings-growth ratio of 4.43 and a beta of 1.38.

Doximity (NASDAQ:DOCS) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.02). The firm had revenue of $136.83 million for the quarter, compared to analyst estimates of $127.05 million. Doximity had a net margin of 33.69% and a return on equity of 19.79%. During the same quarter in the previous year, the company earned $0.18 EPS. On average, equities analysts predict that Doximity, Inc. will post 0.88 earnings per share for the current year.

Doximity 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.