Doximity (NASDAQ:DOCS) Upgraded to “Overweight” at Barclays

Doximity (NASDAQ:DOCS) was upgraded by research analysts at Barclays from an “equal weight” rating to an “overweight” rating in a research note issued on Tuesday, Briefing.com reports. The firm presently has a $52.00 target price on the stock, up from their previous target price of $35.00. Barclays‘s price objective suggests a potential upside of 23.96% from the company’s previous close.

DOCS has been the topic of a number of other research reports. Robert W. Baird raised their target price on shares of Doximity from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 17th. Bank of America raised their price objective on Doximity from $32.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, October 7th. Wells Fargo & Company lowered Doximity from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $27.00 to $19.00 in a research note on Thursday, July 18th. JPMorgan Chase & Co. increased their price target on shares of Doximity from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $35.00 price objective (up from $31.00) on shares of Doximity in a research note on Wednesday, August 14th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Doximity has a consensus rating of “Hold” and an average target price of $35.83.

Doximity Stock Performance

DOCS stock opened at $41.95 on Tuesday. Doximity has a 1 year low of $19.89 and a 1 year high of $44.88. The firm has a market cap of $7.78 billion, a P/E ratio of 58.26, a PEG ratio of 5.29 and a beta of 1.29. The stock’s 50 day moving average price is $38.24 and its 200 day moving average price is $30.81.

Doximity (NASDAQ:DOCS) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. Doximity had a return on equity of 19.26% and a net margin of 32.53%. The firm had revenue of $126.68 million during the quarter, compared to analysts’ expectations of $119.88 million. On average, research analysts predict that Doximity will post 0.8 earnings per share for the current year.

Insider Activity at Doximity

In other news, Director Watkin Phoebe L. Yang sold 1,940 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $28.22, for a total transaction of $54,746.80. Following the completion of the transaction, the director now directly owns 12,269 shares in the company, valued at approximately $346,231.18. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Doximity news, Director Watkin Phoebe L. Yang sold 1,940 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $28.22, for a total transaction of $54,746.80. Following the sale, the director now owns 12,269 shares in the company, valued at $346,231.18. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Watkin Phoebe L. Yang sold 1,011 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $25.54, for a total value of $25,820.94. Following the transaction, the director now directly owns 11,258 shares in the company, valued at approximately $287,529.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 35,451 shares of company stock valued at $1,201,018. Corporate insiders own 39.40% of the company’s stock.

Institutional Investors Weigh In On Doximity

Hedge funds have recently added to or reduced their stakes in the stock. Creative Planning raised its holdings in shares of Doximity by 13.7% during the third quarter. Creative Planning now owns 22,104 shares of the company’s stock valued at $963,000 after buying an additional 2,671 shares during the last quarter. Perpetual Ltd acquired a new position in Doximity during the 3rd quarter worth $441,000. GAMMA Investing LLC grew its stake in shares of Doximity by 40.1% in the third quarter. GAMMA Investing LLC now owns 1,439 shares of the company’s stock worth $63,000 after purchasing an additional 412 shares in the last quarter. Rockland Trust Co. acquired a new position in shares of Doximity during the third quarter valued at $257,000. Finally, Apella Capital LLC raised its stake in shares of Doximity by 15.0% during the third quarter. Apella Capital LLC now owns 62,767 shares of the company’s stock valued at $2,730,000 after purchasing an additional 8,178 shares in the last quarter. 87.19% of the stock is currently owned by institutional investors.

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.