Doximity (NASDAQ:DOCS) Raised to Strong-Buy at Leerink Partnrs

Doximity (NASDAQ:DOCS) was upgraded by research analysts at Leerink Partnrs from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Friday,Zacks.com reports.

DOCS has been the subject of several other reports. JPMorgan Chase & Co. boosted their target price on shares of Doximity from $30.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Wells Fargo & Company raised their target price on Doximity from $43.00 to $55.00 and gave the company an “equal weight” rating in a report on Friday. Barclays boosted their price target on Doximity from $52.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Bank of America boosted their target price on Doximity from $54.00 to $57.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Finally, Leerink Partners raised shares of Doximity from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $60.00 to $90.00 in a report on Friday. Eleven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $62.44.

Doximity Stock Performance

Shares of DOCS opened at $78.97 on Friday. The firm’s 50 day moving average price is $55.61 and its two-hundred day moving average price is $45.66. Doximity has a twelve month low of $22.96 and a twelve month high of $80.71. The firm has a market cap of $14.74 billion, a P/E ratio of 90.77, a PEG ratio of 4.68 and a beta of 1.39.

Doximity (NASDAQ:DOCS) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.02). The company had revenue of $136.83 million during the quarter, compared to analyst estimates of $127.05 million. Doximity had a net margin of 33.69% and a return on equity of 19.79%. During the same period in the previous year, the company posted $0.18 EPS. On average, sell-side analysts anticipate that Doximity will post 0.88 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Timothy S. Cabral sold 20,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $57.62, for a total transaction of $1,152,400.00. Following the transaction, the director now directly owns 6,360 shares of the company’s stock, valued at $366,463.20. This represents a 75.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 37.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Global Retirement Partners LLC raised its position in Doximity by 468.1% during the fourth quarter. Global Retirement Partners LLC now owns 534 shares of the company’s stock worth $29,000 after acquiring an additional 440 shares during the last quarter. UMB Bank n.a. lifted its stake in Doximity by 69.1% in the 4th quarter. UMB Bank n.a. now owns 575 shares of the company’s stock valued at $31,000 after buying an additional 235 shares in the last quarter. Farther Finance Advisors LLC increased its position in Doximity by 324.2% during the third 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 holdings in shares of Doximity by 49.4% in the fourth quarter. Larson Financial Group LLC now owns 756 shares of the company’s stock worth $40,000 after acquiring an additional 250 shares during the last quarter. Finally, Morse Asset Management Inc purchased a new stake in shares of Doximity in the third quarter valued at $46,000. Institutional investors and hedge funds 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.