Doximity (NASDAQ:DOCS) Raised to "Strong-Buy" at Leerink Partnrs

Doximity (NASDAQ:DOCS - Get Free Report) was upgraded by Leerink Partnrs from a "hold" rating to a "strong-buy" rating in a note issued to investors on Friday,Zacks.com reports.

Other research analysts have also issued reports about the stock. Leerink Partners upgraded shares of Doximity from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $60.00 to $90.00 in a research note on Friday, February 7th. The Goldman Sachs Group started coverage on shares of Doximity in a research report on Friday, November 15th. They set a "neutral" rating and a $58.00 target price on the stock. Barclays upped their target price on shares of Doximity from $52.00 to $75.00 and gave the stock an "overweight" rating in a research report on Monday, November 11th. Needham & Company LLC upped their target price on shares of Doximity from $65.00 to $82.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Finally, Raymond James restated an "outperform" rating and set a $83.00 target price (up from $65.00) on shares of Doximity in a research report on Friday, February 7th. Eleven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $64.22.

Doximity Trading Up 0.1 %

Shares of Doximity stock traded up $0.11 on Friday, reaching $75.05. 4,154,742 shares of the stock were exchanged, compared to its average volume of 2,311,001. Doximity has a 1-year low of $22.96 and a 1-year high of $85.21. The business has a fifty day moving average price of $56.61 and a two-hundred day moving average price of $46.63. The firm has a market capitalization of $14.01 billion, a PE ratio of 75.05, a PEG ratio of 4.61 and a beta of 1.39.

Insider Activity at Doximity

In related news, Director Timothy S. Cabral sold 20,000 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $57.62, for a total transaction of $1,152,400.00. Following the transaction, the director now owns 6,360 shares of the company's stock, valued at approximately $366,463.20. This represents a 75.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 37.40% of the company's stock.

Hedge Funds Weigh In On Doximity

Several institutional investors and hedge funds have recently bought and sold shares of DOCS. Global Retirement Partners LLC increased its position in Doximity by 468.1% during the fourth quarter. Global Retirement Partners LLC now owns 534 shares of the company's stock worth $29,000 after purchasing an additional 440 shares during the last quarter. UMB Bank n.a. increased its position in shares of Doximity by 69.1% in the fourth quarter. UMB Bank n.a. now owns 575 shares of the company's stock worth $31,000 after acquiring an additional 235 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Doximity by 324.2% in the third quarter. Farther Finance Advisors LLC now owns 789 shares of the company's stock worth $34,000 after acquiring an additional 603 shares in the last quarter. Larson Financial Group LLC increased its position in shares of Doximity by 49.4% in the fourth quarter. Larson Financial Group LLC now owns 756 shares of the company's stock worth $40,000 after acquiring an additional 250 shares in the last quarter. Finally, Optimum Investment Advisors acquired a new stake in shares of Doximity in the fourth quarter worth $43,000. Institutional investors and hedge funds 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.