Mizuho Cuts Doximity (NASDAQ:DOCS) Price Target to $60.00

Doximity (NASDAQ:DOCS) had its target price decreased by Mizuho from $65.00 to $60.00 in a research note published on Friday morning,Benzinga reports. Mizuho currently has a neutral rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Leerink Partnrs raised shares of Doximity from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 7th. Leerink Partners upgraded shares of Doximity from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $60.00 to $90.00 in a research note on Friday, February 7th. Piper Sandler raised shares of Doximity from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $31.00 to $78.00 in a report on Friday, February 7th. Morgan Stanley decreased their target price on shares of Doximity from $71.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. Finally, Canaccord Genuity Group lowered their target price on shares of Doximity from $71.00 to $50.00 and set a “hold” rating on the stock in a report on Friday. Eleven research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $61.78.

Doximity Trading Down 10.0%

Doximity stock opened at $52.60 on Friday. Doximity has a 12 month low of $25.00 and a 12 month high of $85.21. The stock’s 50 day moving average is $57.40 and its 200-day moving average is $57.95. The company has a market capitalization of $9.82 billion, a price-to-earnings ratio of 52.60, a PEG ratio of 4.10 and a beta of 1.41.

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

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC grew its holdings in shares of Doximity by 118.8% during the 1st quarter. Empowered Funds LLC now owns 123,304 shares of the company’s stock valued at $7,155,000 after purchasing an additional 66,947 shares during the last quarter. United Services Automobile Association acquired a new stake in Doximity in the first quarter valued at approximately $472,000. Goldman Sachs Group Inc. boosted its position in Doximity by 33.3% in the first quarter. Goldman Sachs Group Inc. now owns 255,529 shares of the company’s stock valued at $14,828,000 after buying an additional 63,873 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Doximity during the first quarter worth $801,000. Finally, UniSuper Management Pty Ltd acquired a new position in shares of Doximity during the first quarter worth $2,091,000. Institutional investors own 87.19% of the company’s stock.

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.