Raymond James Cuts Doximity (NASDAQ:DOCS) Price Target to $65.00

Doximity (NASDAQ:DOCS) had its price objective trimmed by Raymond James from $83.00 to $65.00 in a research report released on Friday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Other analysts have also issued research reports about the stock. The Goldman Sachs Group raised their target price on shares of Doximity from $58.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Piper Sandler raised Doximity from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $31.00 to $78.00 in a research note on Friday, February 7th. Leerink Partners raised Doximity from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $60.00 to $90.00 in a research report on Friday, February 7th. Mizuho upped their target price on Doximity from $55.00 to $65.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Finally, Wells Fargo & Company reiterated an “equal weight” rating on shares of Doximity in a research report on Friday, February 7th. Eleven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Doximity presently has a consensus rating of “Moderate Buy” and an average target price of $61.78.

Doximity Stock Down 10.0%

DOCS opened at $52.60 on Friday. The firm has a market cap of $9.82 billion, a P/E ratio of 52.60, a PEG ratio of 4.10 and a beta of 1.41. The business’s fifty day simple moving average is $57.40 and its 200 day simple moving average is $57.95. Doximity has a 52 week low of $25.00 and a 52 week high of $85.21.

Doximity (NASDAQ:DOCS) last released its earnings results on Thursday, May 15th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.11. Doximity had a net margin of 36.60% and a return on equity of 21.75%. The business’s revenue was up 17.1% compared to the same quarter last year. During the same period last year, the business posted $0.25 EPS. As a group, equities analysts expect that Doximity will post 0.99 EPS for the current fiscal year.

Insider Buying and Selling at Doximity

In other news, Director Kira Scherer Wampler sold 2,000 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $56.93, for a total value of $113,860.00. Following the completion of the sale, the director now owns 16,618 shares in the company, valued at approximately $946,062.74. This trade represents a 10.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Anna Bryson sold 45,000 shares of the firm’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $57.23, for a total value of $2,575,350.00. Following the sale, the chief financial officer now owns 357,165 shares in the company, valued at approximately $20,440,552.95. The trade was a 11.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. 37.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Doximity

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. VSM Wealth Advisory LLC purchased a new stake in shares of Doximity during the first quarter valued at approximately $29,000. Global Retirement Partners LLC boosted its stake in shares of Doximity by 468.1% in the fourth quarter. Global Retirement Partners LLC now owns 534 shares of the company’s stock valued at $29,000 after purchasing an additional 440 shares during the period. Allworth Financial LP grew its holdings in Doximity by 104.0% during the 1st quarter. Allworth Financial LP now owns 563 shares of the company’s stock valued at $32,000 after purchasing an additional 287 shares in the last quarter. UMB Bank n.a. increased its stake in Doximity by 69.1% during the 4th quarter. UMB Bank n.a. now owns 575 shares of the company’s stock worth $31,000 after buying an additional 235 shares during the period. Finally, National Bank of Canada FI purchased a new stake in Doximity during the 1st quarter worth $33,000. 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.