Raymond James Reiterates “Outperform” Rating for Doximity (NASDAQ:DOCS)

Doximity (NASDAQ:DOCS)‘s stock had its “outperform” rating restated by investment analysts at Raymond James in a report issued on Friday,Benzinga reports. They currently have a $83.00 target price on the stock, up from their previous target price of $65.00. Raymond James’ price objective suggests a potential upside of 3.71% from the stock’s current price.

DOCS has been the subject of a number of other reports. Piper Sandler raised shares of Doximity from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $31.00 to $78.00 in a research note on Friday. Wells Fargo & Company upped their price objective on Doximity from $43.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Friday. Canaccord Genuity Group restated a “hold” rating and issued a $60.00 price objective (up previously from $40.00) on shares of Doximity in a report on Wednesday, November 13th. The Goldman Sachs Group assumed coverage on Doximity in a research note on Friday, November 15th. They issued a “neutral” rating and a $58.00 target price for the company. Finally, KeyCorp dropped their target price on Doximity from $70.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Twelve research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Doximity currently has a consensus rating of “Hold” and a consensus price target of $61.83.

Doximity Stock Up 37.4 %

NASDAQ:DOCS traded up $21.77 during trading hours on Friday, hitting $80.03. 6,763,176 shares of the stock traded hands, compared to its average volume of 1,758,698. The company has a market cap of $14.94 billion, a price-to-earnings ratio of 91.54, a price-to-earnings-growth ratio of 4.68 and a beta of 1.39. Doximity has a 1 year low of $22.96 and a 1 year high of $80.71. The stock has a 50 day moving average price of $55.09 and a 200 day moving average price of $45.31.

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

Insider Activity at Doximity

In other news, Director Timothy S. Cabral sold 20,000 shares of Doximity stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $57.62, for a total value of $1,152,400.00. Following the completion of the transaction, the director now owns 6,360 shares in the company, valued at approximately $366,463.20. This trade represents a 75.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 37.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in DOCS. Global Retirement Partners LLC boosted its position in Doximity by 468.1% during the 4th quarter. Global Retirement Partners LLC now owns 534 shares of the company’s stock valued at $29,000 after purchasing an additional 440 shares during the period. UMB Bank n.a. raised its stake in shares of Doximity by 69.1% in the 4th quarter. UMB Bank n.a. now owns 575 shares of the company’s stock worth $31,000 after buying an additional 235 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Doximity by 324.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 789 shares of the company’s stock worth $34,000 after buying an additional 603 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of Doximity by 49.4% in the 4th quarter. Larson Financial Group LLC now owns 756 shares of the company’s stock worth $40,000 after buying an additional 250 shares in the last quarter. Finally, Morse Asset Management Inc acquired a new stake in shares of Doximity during the third quarter worth $46,000. Institutional investors and hedge funds own 87.19% of the company’s stock.

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.