Doximity (NASDAQ:DOCS) Receives Outperform Rating from Raymond James

Raymond James restated their outperform rating on shares of Doximity (NASDAQ:DOCS) in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has a $65.00 price target on the stock, up from their previous price target of $37.00.

Other equities analysts have also issued research reports about the company. KeyCorp raised Doximity from a “sector weight” rating to an “overweight” rating and set a $70.00 target price on the stock in a research note on Friday. JPMorgan Chase & Co. increased their target price on Doximity from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Baird R W raised Doximity to a “strong-buy” rating in a research note on Tuesday, September 17th. Wells Fargo & Company raised Doximity from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $19.00 to $41.00 in a research note on Friday. Finally, Canaccord Genuity Group increased their target price on Doximity from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Doximity presently has an average rating of “Hold” and an average price target of $42.43.

Doximity Price Performance

Shares of DOCS stock traded up $14.83 during trading hours on Friday, hitting $58.25. 8,543,154 shares of the company’s stock were exchanged, compared to its average volume of 1,165,301. The stock’s 50-day moving average is $41.55 and its 200-day moving average is $33.05. The stock has a market cap of $10.81 billion, a price-to-earnings ratio of 49.82, a price-to-earnings-growth ratio of 5.09 and a beta of 1.30. Doximity has a 52 week low of $20.28 and a 52 week high of $60.90.

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

Institutional Trading of Doximity

Several institutional investors have recently added to or reduced their stakes in DOCS. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in Doximity in the 1st quarter valued at $416,000. Janney Montgomery Scott LLC raised its holdings in Doximity by 17.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 20,802 shares of the company’s stock valued at $560,000 after acquiring an additional 3,086 shares in the last quarter. GSA Capital Partners LLP raised its holdings in Doximity by 40.1% in the 1st quarter. GSA Capital Partners LLP now owns 17,390 shares of the company’s stock valued at $468,000 after acquiring an additional 4,981 shares in the last quarter. Texas Permanent School Fund Corp raised its holdings in Doximity by 4.9% in the 1st quarter. Texas Permanent School Fund Corp now owns 106,915 shares of the company’s stock valued at $2,877,000 after acquiring an additional 5,018 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of Doximity by 18.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 15,320 shares of the company’s stock worth $412,000 after buying an additional 2,432 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.