JPMorgan Chase & Co. Upgrades Doximity (NASDAQ:DOCS) to “Neutral”

Doximity (NASDAQ:DOCSGet Free Report) was upgraded by stock analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a report issued on Thursday, FinViz reports. The brokerage presently has a $25.00 price target on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 4.52% from the stock’s current price.

DOCS has been the subject of a number of other research reports. Barclays initiated coverage on Doximity in a research note on Wednesday, January 3rd. They issued an “equal weight” rating and a $31.00 price objective for the company. Leerink Partnrs reissued a “market perform” rating on shares of Doximity in a report on Monday, February 26th. Wells Fargo & Company increased their price objective on Doximity from $25.00 to $27.00 and gave the stock an “equal weight” rating in a report on Friday, February 9th. Truist Financial increased their price objective on Doximity from $28.00 to $29.00 and gave the stock a “hold” rating in a report on Friday, February 9th. Finally, SVB Leerink began coverage on Doximity in a report on Monday, February 26th. They set a “market perform” rating and a $32.00 price objective on the stock. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Doximity presently has a consensus rating of “Hold” and an average price target of $28.82.

Check Out Our Latest Analysis on DOCS

Doximity Trading Down 2.7 %

Shares of Doximity stock opened at $23.92 on Thursday. The stock has a fifty day simple moving average of $27.22 and a 200 day simple moving average of $26.19. Doximity has a 12-month low of $19.71 and a 12-month high of $36.92. The company has a market capitalization of $4.46 billion, a P/E ratio of 36.24, a price-to-earnings-growth ratio of 3.09 and a beta of 1.17.

Doximity (NASDAQ:DOCSGet Free Report) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.06. The firm had revenue of $135.28 million during the quarter, compared to the consensus estimate of $127.46 million. Doximity had a return on equity of 16.08% and a net margin of 29.39%. On average, analysts predict that Doximity will post 0.72 EPS for the current year.

Insider Activity at Doximity

In related news, Director Kira Scherer Wampler sold 2,500 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $26.97, for a total transaction of $67,425.00. Following the transaction, the director now directly owns 10,258 shares of the company’s stock, valued at approximately $276,658.26. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 39.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Doximity

A number of large investors have recently bought and sold shares of DOCS. Norges Bank purchased a new position in Doximity in the 4th quarter worth approximately $35,995,000. Vanguard Group Inc. grew its position in shares of Doximity by 5.9% in the 3rd quarter. Vanguard Group Inc. now owns 11,038,475 shares of the company’s stock worth $234,236,000 after buying an additional 616,157 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Doximity by 344.2% in the 3rd quarter. AQR Capital Management LLC now owns 540,126 shares of the company’s stock worth $11,461,000 after buying an additional 418,523 shares during the last quarter. Edmond DE Rothschild Holding S.A. grew its position in shares of Doximity by 15.1% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 2,302,240 shares of the company’s stock worth $64,555,000 after buying an additional 301,290 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH bought a new stake in shares of Doximity in the 4th quarter worth approximately $6,518,000. 87.19% of the stock is owned by hedge funds and other institutional investors.

Doximity Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Doximity (NASDAQ:DOCS)

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