Canaccord Genuity Group Issues Positive Forecast for Doximity (NASDAQ:DOCS) Stock Price

Doximity (NASDAQ:DOCS) had its target price boosted by Canaccord Genuity Group from $60.00 to $71.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a hold rating on the stock.

Other equities analysts have also recently issued research reports about the stock. The Goldman Sachs Group started coverage on shares of Doximity in a research note on Friday, November 15th. They set a “neutral” rating and a $58.00 price objective for the company. Mizuho began coverage on shares of Doximity in a research report on Wednesday, December 4th. They set a “neutral” rating and a $55.00 price target for the company. Leerink Partners upgraded Doximity from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $60.00 to $90.00 in a research report on Friday. Truist Financial boosted their target price on Doximity from $35.00 to $49.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Finally, JPMorgan Chase & Co. raised their price target on Doximity from $30.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. Twelve research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $62.44.

Doximity Stock Performance

Shares of NASDAQ DOCS opened at $78.97 on Friday. Doximity has a fifty-two week low of $22.96 and a fifty-two week high of $80.71. The stock has a market cap of $14.74 billion, a PE ratio of 90.77, a price-to-earnings-growth ratio of 4.68 and a beta of 1.39. The stock has a fifty day moving average of $55.61 and a 200-day moving average of $45.66.

Doximity (NASDAQ:DOCS) last posted its earnings results 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). Doximity had a net margin of 33.69% and a return on equity of 19.79%. The company had revenue of $136.83 million for the quarter, compared to analysts’ expectations of $127.05 million. During the same period in the previous year, the firm earned $0.18 EPS. On average, sell-side analysts predict that Doximity will post 0.88 EPS for the current year.

Insider Transactions at Doximity

In related news, Director Timothy S. Cabral sold 20,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 6,360 shares in the company, valued at $366,463.20. This trade represents a 75.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 37.40% of the company’s stock.

Institutional Trading of Doximity

A number of institutional investors have recently made changes to their positions in DOCS. Global Retirement Partners LLC raised its holdings 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 buying an additional 440 shares during the last quarter. UMB Bank n.a. raised its stake in shares of Doximity by 69.1% during the fourth quarter. UMB Bank n.a. now owns 575 shares of the company’s stock valued at $31,000 after acquiring an additional 235 shares during the last quarter. Larson Financial Group LLC boosted its holdings in shares of Doximity by 49.4% during the fourth quarter. Larson Financial Group LLC now owns 756 shares of the company’s stock worth $40,000 after purchasing an additional 250 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Doximity by 324.2% in the third 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. Finally, Morse Asset Management Inc purchased a new position in Doximity during the 3rd quarter valued at about $46,000. Hedge funds and other institutional investors 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.