Doximity's (DOCS) Outperform Rating Reiterated at Raymond James

Doximity (NASDAQ:DOCS - Get Free Report)'s stock had its "outperform" rating restated by equities researchers at Raymond James in a report released on Friday,Benzinga reports. They currently have a $65.00 price objective on the stock, up from their prior price objective of $37.00. Raymond James' price objective suggests a potential upside of 11.91% from the company's current price.

DOCS has been the subject of a number of other research reports. Wells Fargo & Company upgraded shares of Doximity from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $19.00 to $41.00 in a research note on Friday. Robert W. Baird boosted their price target on Doximity from $41.00 to $45.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 17th. Canaccord Genuity Group raised their price objective on Doximity from $37.00 to $40.00 and gave the company a "buy" rating in a research report on Tuesday, August 20th. Barclays upgraded Doximity from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $35.00 to $52.00 in a research note on Tuesday, October 15th. Finally, JPMorgan Chase & Co. increased their price target on Doximity from $27.00 to $30.00 and gave the company a "neutral" rating in a research note on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $42.43.

Doximity Stock Performance

DOCS traded up $14.66 on Friday, hitting $58.08. 8,540,263 shares of the company were exchanged, compared to its average volume of 1,693,740. The stock's fifty day moving average is $41.12 and its 200-day moving average is $32.82. Doximity has a 12 month low of $20.28 and a 12 month high of $60.90. The company has a market cap of $10.78 billion, a PE ratio of 73.20, a PEG ratio of 5.03 and a beta of 1.30.

Doximity (NASDAQ:DOCS - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.22 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $119.88 million. As a group, equities research analysts expect that Doximity will post 0.8 EPS for the current fiscal year.

Institutional Investors Weigh In On Doximity

Several institutional investors have recently made changes to their positions in the stock. William Blair Investment Management LLC bought a new stake in shares of Doximity during the 1st quarter worth approximately $148,823,000. Swedbank AB acquired a new stake in shares of Doximity in the 1st quarter valued at $91,673,000. Capital World Investors increased its stake in shares of Doximity by 250.7% in the 1st quarter. Capital World Investors now owns 1,714,707 shares of the company's stock valued at $46,143,000 after purchasing an additional 1,225,707 shares during the last quarter. Los Angeles Capital Management LLC raised its holdings in shares of Doximity by 6,242.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 650,874 shares of the company's stock worth $28,359,000 after buying an additional 640,612 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of Doximity by 33.5% during the 1st quarter. Janus Henderson Group PLC now owns 2,474,695 shares of the company's stock worth $66,594,000 after buying an additional 621,590 shares during 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.