Doximity (NASDAQ:DOCS) Stock Rating Upgraded by Piper Sandler

Doximity (NASDAQ:DOCS) was upgraded by research analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a research note issued on Friday,Briefing.com Automated Import reports. The firm presently has a $78.00 price objective on the stock, up from their previous price objective of $31.00. Piper Sandler’s price objective would indicate a potential upside of 1.78% from the stock’s current price.

A number of other brokerages have also recently commented on DOCS. Morgan Stanley upgraded shares of Doximity from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $33.00 to $53.00 in a research note on Thursday, November 14th. Leerink Partners upgraded shares of Doximity from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $60.00 to $90.00 in a research note on Friday. KeyCorp lowered their price target on shares of Doximity from $70.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Mizuho assumed coverage on shares of Doximity in a report on Wednesday, December 4th. They issued a “neutral” rating and a $55.00 price target for the company. Finally, JPMorgan Chase & Co. raised their target price on Doximity from $30.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Twelve analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Doximity has a consensus rating of “Hold” and an average price target of $60.83.

Doximity Stock Up 31.5 %

Shares of DOCS opened at $76.64 on Friday. The stock has a market cap of $14.31 billion, a price-to-earnings ratio of 88.50, a P/E/G ratio of 4.68 and a beta of 1.39. Doximity has a 12 month low of $22.96 and a 12 month high of $76.57. The company has a 50-day moving average price of $55.09 and a two-hundred day moving average price of $45.31.

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

Insider Activity at Doximity

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

Institutional Investors Weigh In On Doximity

Several institutional investors and hedge funds have recently made changes to their positions in DOCS. Global Retirement Partners LLC increased its position in Doximity by 468.1% during the 4th quarter. Global Retirement Partners LLC now owns 534 shares of the company’s stock worth $29,000 after purchasing an additional 440 shares in the last quarter. UMB Bank n.a. grew its position in shares of Doximity by 69.1% during 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 during the last quarter. Farther Finance Advisors LLC grew its position in 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 purchasing an additional 603 shares during the last quarter. Larson Financial Group LLC lifted 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 acquiring an additional 250 shares during the period. Finally, Morse Asset Management Inc acquired a new stake in shares of Doximity in the 3rd quarter worth approximately $46,000. 87.19% of the stock is currently owned by hedge funds and other 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.