Doximity (NASDAQ:DOCS) Stock Price Up 6.7% After Analyst Upgrade

Doximity, Inc. (NASDAQ:DOCS - Get Free Report)'s share price rose 6.7% on Monday 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 $84.73 and last traded at $84.53. Approximately 1,721,454 shares were traded during mid-day trading, a decline of 9% from the average daily volume of 1,898,433 shares. The stock had previously closed at $79.23.

Several other research analysts also recently weighed in on the stock. Needham & Company LLC boosted their target price on shares of Doximity from $65.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Morgan Stanley raised shares of Doximity from an "underweight" rating to an "equal weight" rating and upped their price objective for the company from $33.00 to $53.00 in a research note on Thursday, November 14th. Leerink Partnrs raised shares of Doximity from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 7th. Leerink Partners raised Doximity from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $60.00 to $90.00 in a research note on Friday, February 7th. Finally, KeyCorp lowered their price objective on Doximity from $70.00 to $65.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. 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 MarketBeat, Doximity has a consensus rating of "Moderate Buy" and a consensus price target of $64.22.

Insider Transactions at Doximity

In other 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 sale, the director now directly owns 6,360 shares of the company's stock, valued at approximately $366,463.20. The trade was a 75.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 37.40% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Global Retirement Partners LLC raised its position in shares of Doximity by 468.1% in the 4th quarter. Global Retirement Partners LLC now owns 534 shares of the company's stock valued at $29,000 after purchasing an additional 440 shares in the last quarter. UMB Bank n.a. raised its holdings in Doximity by 69.1% in the fourth quarter. UMB Bank n.a. now owns 575 shares of the company's stock valued at $31,000 after acquiring an additional 235 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Doximity by 324.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 789 shares of the company's stock valued at $34,000 after acquiring an additional 603 shares during the last quarter. Larson Financial Group LLC grew its holdings in Doximity by 49.4% during the 4th 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 bought a new stake in shares of Doximity in the 4th quarter worth about $43,000. Hedge funds and other institutional investors own 87.19% of the company's stock.

Doximity Stock Performance

The business's 50 day moving average price is $57.03 and its 200-day moving average price is $46.83. The firm has a market cap of $14.17 billion, a price-to-earnings ratio of 75.99, 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.