Robert W. Baird Boosts Doximity (NASDAQ:DOCS) Price Target to $45.00

Doximity (NASDAQ:DOCS) had its price objective upped by Robert W. Baird from $41.00 to $45.00 in a report issued on Tuesday morning, Benzinga reports. They currently have an outperform rating on the stock.

DOCS has been the topic of several other research reports. Truist Financial restated a hold rating and issued a $35.00 price target (up previously from $31.00) on shares of Doximity in a research report on Wednesday, August 14th. JPMorgan Chase & Co. lifted their price target on shares of Doximity from $27.00 to $30.00 and gave the company a neutral rating in a research report on Monday, August 19th. Canaccord Genuity Group raised their price objective on Doximity from $37.00 to $40.00 and gave the company a buy rating in a research note on Tuesday, August 20th. Evercore ISI lifted their price objective on Doximity from $29.00 to $34.00 and gave the stock an in-line rating in a research report on Friday, August 9th. Finally, Needham & Company LLC raised Doximity from a hold rating to a buy rating and set a $38.00 price target for the company in a research report on Friday, August 9th. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Doximity currently has an average rating of Hold and an average price target of $32.42.

Doximity Trading Up 0.6 %

Doximity stock opened at $40.89 on Tuesday. The company has a fifty day simple moving average of $33.20 and a 200-day simple moving average of $29.00. The stock has a market cap of $7.58 billion, a P/E ratio of 56.79, a price-to-earnings-growth ratio of 5.15 and a beta of 1.27. Doximity has a 12-month low of $19.71 and a 12-month high of $41.05.

Doximity (NASDAQ:DOCS) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. Doximity had a net margin of 32.53% and a return on equity of 19.26%. The company had revenue of $126.68 million for the quarter, compared to analysts’ expectations of $119.88 million. As a group, sell-side analysts forecast that Doximity will post 0.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Anna Bryson sold 30,000 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $35.00, for a total transaction of $1,050,000.00. Following the completion of the sale, 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 legal filing with the SEC, which is available at this link. In other Doximity news, CFO Anna Bryson sold 30,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 309,627 shares in the company, valued at $10,836,945. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Watkin Phoebe L. Yang sold 1,011 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $25.54, for a total value of $25,820.94. Following the completion of the transaction, the director now directly owns 11,258 shares in the company, valued at $287,529.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,951 shares of company stock valued at $1,271,018. Insiders own 39.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of DOCS. Cim LLC acquired a new position in Doximity during the 2nd quarter worth $1,955,000. Sanctuary Advisors LLC acquired a new stake in Doximity during the second quarter worth about $270,000. Clearbridge Investments LLC lifted its holdings in Doximity by 7.1% in the second quarter. Clearbridge Investments LLC now owns 5,853,035 shares of the company’s stock worth $163,709,000 after acquiring an additional 387,200 shares during the last quarter. Quarry LP grew its holdings in shares of Doximity by 101.2% during the second quarter. Quarry LP now owns 1,616 shares of the company’s stock valued at $45,000 after purchasing an additional 131,253 shares during the last quarter. Finally, Creative Planning raised its position in shares of Doximity by 20.1% during the 2nd quarter. Creative Planning now owns 19,433 shares of the company’s stock worth $544,000 after purchasing an additional 3,251 shares during the period. 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.