Barclays Upgrades Doximity (NASDAQ:DOCS) to Overweight

Barclays upgraded shares of Doximity (NASDAQ:DOCS) from an equal weight rating to an overweight rating in a research report report published on Tuesday morning, Marketbeat Ratings reports. They currently have $52.00 price target on the stock, up from their prior price target of $35.00.

Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of Doximity from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Wells Fargo & Company downgraded shares of Doximity from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $27.00 to $19.00 in a report on Thursday, July 18th. Morgan Stanley boosted their target price on shares of Doximity from $25.00 to $26.00 and gave the company an “underweight” rating in a report on Friday, August 9th. Truist Financial reiterated a “hold” rating and issued a $35.00 price target (up from $31.00) on shares of Doximity in a research report on Wednesday, August 14th. Finally, Evercore ISI increased their price objective on Doximity from $34.00 to $45.00 and gave the stock an “in-line” rating in a report on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $35.83.

Doximity Stock Performance

DOCS opened at $43.49 on Tuesday. The firm has a market cap of $8.06 billion, a P/E ratio of 60.40, a PEG ratio of 5.29 and a beta of 1.29. Doximity has a fifty-two week low of $19.89 and a fifty-two week high of $44.88. The firm has a 50-day moving average of $39.47 and a 200 day moving average of $31.23.

Doximity (NASDAQ:DOCS) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.06. The business had revenue of $126.68 million during the quarter, compared to analyst estimates of $119.88 million. Doximity had a return on equity of 19.26% and a net margin of 32.53%. Equities research analysts predict that Doximity will post 0.8 earnings per share for the current fiscal year.

Insider Activity at Doximity

In other Doximity news, Director Watkin Phoebe L. Yang sold 1,940 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $28.22, for a total value of $54,746.80. Following the completion of the transaction, the director now owns 12,269 shares of the company’s stock, valued at $346,231.18. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Doximity news, Director Watkin Phoebe L. Yang sold 1,940 shares of Doximity stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $28.22, for a total transaction of $54,746.80. Following the completion of the sale, the director now owns 12,269 shares of the company’s stock, valued at $346,231.18. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Watkin Phoebe L. Yang sold 1,011 shares of the 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 transaction, the director now owns 11,258 shares in the company, valued at $287,529.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,451 shares of company stock valued at $1,201,018 over the last three months. 39.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Doximity

A number of hedge funds have recently made changes to their positions in DOCS. LRI Investments LLC purchased a new position in Doximity in the 1st quarter worth $27,000. Blue Trust Inc. increased its holdings in shares of Doximity by 621.4% in the second quarter. Blue Trust Inc. now owns 1,385 shares of the company’s stock worth $37,000 after buying an additional 1,193 shares during the period. Quarry LP lifted its stake in shares of Doximity by 101.2% in the 2nd quarter. Quarry LP now owns 1,616 shares of the company’s stock valued at $45,000 after acquiring an additional 131,253 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in Doximity during the 1st quarter valued at about $46,000. Finally, First Horizon Advisors Inc. increased its stake in Doximity by 80.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,710 shares of the company’s stock worth $48,000 after purchasing an additional 760 shares during the period. 87.19% of the stock is currently owned by institutional investors.

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.