Bank of America Boosts Doximity (NASDAQ:DOCS) Price Target to $45.00

Doximity (NASDAQ:DOCS) had its price objective boosted by Bank of America from $32.00 to $45.00 in a research note published on Monday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other research analysts have also issued reports on the company. Wells Fargo & Company lowered Doximity from an equal weight rating to an underweight rating and reduced their price target for the stock from $27.00 to $19.00 in a research report on Thursday, July 18th. Baird R W raised Doximity to a strong-buy rating in a research note on Tuesday, September 17th. Canaccord Genuity Group boosted their price objective on Doximity from $37.00 to $40.00 and gave the stock a buy rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. boosted their price objective on Doximity from $27.00 to $30.00 and gave the stock a neutral rating in a research note on Monday, August 19th. Finally, Evercore ISI boosted their price objective on Doximity from $29.00 to $34.00 and gave the stock an in-line rating in a research note on Friday, August 9th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $34.42.

Doximity Price Performance

NASDAQ:DOCS opened at $43.35 on Monday. Doximity has a 12-month low of $19.89 and a 12-month high of $44.88. The firm has a market capitalization of $8.04 billion, a P/E ratio of 60.21, a P/E/G ratio of 5.80 and a beta of 1.29. The business has a 50 day simple moving average of $37.60 and a 200 day simple moving average of $30.54.

Doximity (NASDAQ:DOCS) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.22 earnings per share (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 company had revenue of $126.68 million during the quarter, compared to analyst estimates of $119.88 million. Research analysts anticipate that Doximity will post 0.8 EPS for the current fiscal year.

Insider Activity

In other news, Director Watkin Phoebe L. Yang sold 1,940 shares of Doximity 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 transaction, the director now owns 12,269 shares in the company, valued at approximately $346,231.18. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Watkin Phoebe L. Yang sold 1,940 shares of Doximity 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 transaction, the director now owns 12,269 shares in the company, valued at approximately $346,231.18. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Anna Bryson sold 30,000 shares of Doximity stock in a transaction on Friday, August 9th. The shares were sold at an average price of $35.00, for a total value of $1,050,000.00. Following the transaction, the chief financial officer now owns 309,627 shares in the company, valued at $10,836,945. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,451 shares of company stock worth $1,201,018. 39.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in Doximity by 40.1% in the third quarter. GAMMA Investing LLC now owns 1,439 shares of the company’s stock valued at $63,000 after purchasing an additional 412 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Doximity by 19.7% during the 2nd quarter. Van ECK Associates Corp now owns 2,590 shares of the company’s stock worth $72,000 after acquiring an additional 427 shares in the last quarter. Cornercap Investment Counsel Inc. boosted its stake in shares of Doximity by 3.2% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 17,143 shares of the company’s stock worth $479,000 after acquiring an additional 537 shares in the last quarter. Perigon Wealth Management LLC boosted its stake in shares of Doximity by 4.5% during the 1st quarter. Perigon Wealth Management LLC now owns 15,598 shares of the company’s stock worth $420,000 after acquiring an additional 676 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of Doximity by 2.4% during the 2nd quarter. Arizona State Retirement System now owns 30,779 shares of the company’s stock worth $861,000 after acquiring an additional 725 shares in the last quarter. Hedge funds and other institutional investors 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.