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

JPMorgan Chase & Co. upgraded shares of Doximity (NASDAQ:DOCS) from an underweight rating to a neutral rating in a report issued on Thursday morning, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has $25.00 price objective on the stock.

Several other equities analysts have also commented on DOCS. Leerink Partnrs reaffirmed a market perform rating on shares of Doximity in a research report on Monday, February 26th. Barclays began coverage on shares of Doximity in a research report on Wednesday, January 3rd. They issued an equal weight rating and a $31.00 price objective for the company. Evercore ISI reissued an in-line rating and set a $30.00 price target on shares of Doximity in a research report on Tuesday, April 2nd. Bank of America raised their price target on shares of Doximity from $29.00 to $32.00 and gave the stock a neutral rating in a research report on Tuesday, January 23rd. Finally, Wells Fargo & Company raised their price target on shares of Doximity from $25.00 to $27.00 and gave the stock an equal weight rating in a research report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $28.82.

Doximity Stock Performance

NASDAQ:DOCS opened at $23.59 on Thursday. Doximity has a fifty-two week low of $19.71 and a fifty-two week high of $36.92. The stock has a market capitalization of $4.40 billion, a P/E ratio of 33.21, a P/E/G ratio of 3.01 and a beta of 1.17. The company’s 50-day simple moving average is $27.08 and its 200-day simple moving average is $26.17.

Doximity (NASDAQ:DOCS) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.19 by $0.06. The firm had revenue of $135.28 million during the quarter, compared to analyst estimates of $127.46 million. Doximity had a net margin of 29.39% and a return on equity of 16.08%. On average, research analysts forecast 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 business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $26.97, for a total value of $67,425.00. Following the completion of the transaction, the director now directly owns 10,258 shares in the company, valued at approximately $276,658.26. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 39.40% of the company’s stock.

Hedge Funds Weigh In On Doximity

Large investors have recently made changes to their positions in the company. First Horizon Advisors Inc. increased its holdings in Doximity by 111.3% in the 4th quarter. First Horizon Advisors Inc. now owns 995 shares of the company’s stock worth $28,000 after acquiring an additional 524 shares in the last quarter. GAMMA Investing LLC purchased a new stake in Doximity in the 4th quarter worth $40,000. Creative Financial Designs Inc. ADV increased its holdings in Doximity by 16.7% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 3,301 shares of the company’s stock worth $93,000 after acquiring an additional 473 shares in the last quarter. CWM LLC increased its holdings in Doximity by 57.2% in the 3rd quarter. CWM LLC now owns 4,982 shares of the company’s stock worth $106,000 after acquiring an additional 1,813 shares in the last quarter. Finally, Neo Ivy Capital Management purchased a new stake in Doximity in the 3rd quarter worth $109,000. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Doximity Company 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.