Doximity (NASDAQ:DOCS) Hits New 12-Month High on Analyst Upgrade

Doximity, Inc. (NASDAQ:DOCS - Get Free Report) hit a new 52-week high during trading on Friday after Mizuho raised their price target on the stock from $55.00 to $65.00. Mizuho currently has a neutral rating on the stock. Doximity traded as high as $70.62 and last traded at $77.11, with a volume of 137195 shares trading hands. The stock had previously closed at $58.26.

Several other equities analysts also recently weighed in on the company. JPMorgan Chase & Co. raised their price target on Doximity from $30.00 to $48.00 and gave the stock a "neutral" rating in a research report on Thursday, November 21st. Stephens began coverage on shares of Doximity in a research note on Friday, December 20th. They issued an "equal weight" rating and a $55.00 target price for the company. Leerink Partnrs raised Doximity from a "hold" rating to a "strong-buy" rating in a research note on Friday. Piper Sandler raised Doximity from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $31.00 to $78.00 in a research report on Friday. Finally, The Goldman Sachs Group increased their target price on Doximity from $58.00 to $80.00 and gave the stock a "neutral" rating in a research report on Monday. Eleven research 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, the company has a consensus rating of "Moderate Buy" and a consensus target price of $64.22.

Insider Buying and Selling at Doximity

In related news, Director Timothy S. Cabral sold 20,000 shares of Doximity stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $57.62, for a total transaction of $1,152,400.00. Following the transaction, the director now directly owns 6,360 shares of the company's stock, valued at $366,463.20. The trade was a 75.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 37.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Doximity

A number of institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC raised its holdings in shares of Doximity by 30.5% in the 3rd quarter. FMR LLC now owns 6,837,733 shares of the company's stock worth $297,920,000 after purchasing an additional 1,598,602 shares in the last quarter. State Street Corp boosted its holdings in shares of Doximity by 2.5% in the third quarter. State Street Corp now owns 3,693,982 shares of the company's stock worth $160,947,000 after buying an additional 88,922 shares during the period. Geode Capital Management LLC increased its position in shares of Doximity by 19.8% in the third quarter. Geode Capital Management LLC now owns 2,856,984 shares of the company's stock worth $124,503,000 after acquiring an additional 472,565 shares in the last quarter. Los Angeles Capital Management LLC boosted its position in shares of Doximity by 33.7% in the fourth quarter. Los Angeles Capital Management LLC now owns 870,322 shares of the company's stock worth $46,466,000 after buying an additional 219,448 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Doximity by 3.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 778,524 shares of the company's stock valued at $41,565,000 after buying an additional 25,523 shares during the period. 87.19% of the stock is owned by institutional investors and hedge funds.

Doximity Trading Down 8.9 %

The stock has a 50-day simple moving average of $56.20 and a 200 day simple moving average of $46.30. The stock has a market capitalization of $14.13 billion, a price-to-earnings ratio of 76.01, a price-to-earnings-growth ratio of 4.61 and a beta of 1.39.

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.