Doximity (NASDAQ:DOCS) PT Raised to $30.00

Doximity (NASDAQ:DOCS) had its price objective boosted by stock analysts at JPMorgan Chase & Co. from $27.00 to $30.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential downside of 17.15% from the company’s previous close.

Several other analysts also recently issued reports on the company. Truist Financial restated a “hold” rating and issued a $35.00 price target (up from $31.00) on shares of Doximity in a research note on Wednesday, August 14th. William Blair reaffirmed an “outperform” rating on shares of Doximity in a research report on Friday, May 17th. Needham & Company LLC raised shares of Doximity from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a report on Friday, August 9th. Wells Fargo & Company cut shares of Doximity from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $27.00 to $19.00 in a report on Thursday, July 18th. Finally, Barclays lifted their price target on shares of Doximity from $31.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Doximity has a consensus rating of “Hold” and an average price target of $31.27.

Doximity Stock Performance

Shares of DOCS opened at $36.21 on Monday. The firm has a market cap of $6.71 billion, a P/E ratio of 50.29, a price-to-earnings-growth ratio of 5.12 and a beta of 1.22. Doximity has a 52 week low of $19.71 and a 52 week high of $37.25. The firm’s 50-day simple moving average is $28.94 and its 200 day simple moving average is $27.67.

Insider Activity

In other Doximity news, Director Watkin Phoebe L. Yang sold 1,940 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $28.22, for a total value of $54,746.80. Following the completion of the transaction, the director now directly owns 12,269 shares in the company, valued at $346,231.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Anna Bryson sold 30,000 shares of Doximity stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $30.00, for a total transaction of $900,000.00. Following the transaction, the chief financial officer now owns 288,685 shares in the company, valued at $8,660,550. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Watkin Phoebe L. Yang sold 1,940 shares of the business’s stock in a transaction 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 sale, the director now directly owns 12,269 shares in the company, valued at approximately $346,231.18. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,951 shares of company stock worth $2,471,018. Corporate insiders own 39.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of DOCS. Norges Bank acquired a new stake in shares of Doximity in the fourth quarter valued at about $35,995,000. Blair William & Co. IL raised its holdings in Doximity by 31.7% during the 1st quarter. Blair William & Co. IL now owns 90,600 shares of the company’s stock worth $2,438,000 after purchasing an additional 21,787 shares during the last quarter. Edmond DE Rothschild Holding S.A. lifted its position in shares of Doximity by 15.1% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 2,302,240 shares of the company’s stock worth $64,555,000 after purchasing an additional 301,290 shares during the period. Pinebridge Investments L.P. acquired a new position in shares of Doximity in the 4th quarter worth approximately $2,845,000. Finally, Acadian Asset Management LLC increased its position in shares of Doximity by 128.7% during the first quarter. Acadian Asset Management LLC now owns 96,442 shares of the company’s stock worth $2,590,000 after buying an additional 54,281 shares during the period. 87.19% of the stock is owned by institutional investors and hedge funds.

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.