Lifestyle Asset Management Inc. Makes New Investment in Doximity, Inc. (NASDAQ:DOCS)

Lifestyle Asset Management Inc. purchased a new position in Doximity, Inc. (NASDAQ:DOCS) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 6,665 shares of the company’s stock, valued at approximately $356,000.

Several other hedge funds have also recently added to or reduced their stakes in DOCS. FMR LLC grew its position in Doximity by 30.5% in the third quarter. FMR LLC now owns 6,837,733 shares of the company’s stock worth $297,920,000 after buying an additional 1,598,602 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of Doximity during the third quarter worth $29,453,000. Los Angeles Capital Management LLC boosted its position in Doximity by 6,242.6% during the third quarter. Los Angeles Capital Management LLC now owns 650,874 shares of the company’s stock valued at $28,359,000 after purchasing an additional 640,612 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Doximity in the third quarter valued at about $24,691,000. Finally, Geode Capital Management LLC increased its position in Doximity by 19.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,856,984 shares of the company’s stock worth $124,503,000 after purchasing an additional 472,565 shares during the last quarter. Institutional investors and hedge funds own 87.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on DOCS shares. Morgan Stanley upgraded Doximity from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $33.00 to $53.00 in a report on Thursday, November 14th. Canaccord Genuity Group reissued a “hold” rating and set a $60.00 target price (up previously from $40.00) on shares of Doximity in a research report on Wednesday, November 13th. Stephens began coverage on Doximity in a research report on Friday, December 20th. They issued an “equal weight” rating and a $55.00 price objective for the company. Truist Financial lifted 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, KeyCorp lowered their price objective on Doximity from $70.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Thirteen research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $53.12.

Doximity Trading Down 0.6 %

NASDAQ:DOCS opened at $55.69 on Friday. The stock has a market capitalization of $10.40 billion, a P/E ratio of 64.02, a price-to-earnings-growth ratio of 4.39 and a beta of 1.38. Doximity, Inc. has a 1 year low of $22.96 and a 1 year high of $61.75. The firm has a 50 day moving average of $53.66 and a 200-day moving average of $43.22.

Doximity (NASDAQ:DOCS) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.02). The business had revenue of $136.83 million during the quarter, compared to analyst estimates of $127.05 million. Doximity had a return on equity of 19.79% and a net margin of 33.69%. During the same period in the prior year, the firm posted $0.18 EPS. As a group, analysts forecast that Doximity, Inc. will post 0.88 EPS for the current fiscal year.

Doximity 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.