Stock Traders Buy High Volume of Call Options on Doximity (NASDAQ:DOCS)

Doximity, Inc. (NASDAQ:DOCS - Get Free Report) was the target of unusually large options trading activity on Monday. Stock traders bought 3,211 call options on the company. This is an increase of approximately 57% compared to the typical volume of 2,050 call options.

Doximity Stock Performance

Shares of DOCS traded up $3.00 during mid-day trading on Monday, reaching $61.25. The company had a trading volume of 5,349,238 shares, compared to its average volume of 1,710,653. Doximity has a 52 week low of $22.96 and a 52 week high of $61.75. The company has a market capitalization of $11.37 billion, a price-to-earnings ratio of 68.98, a price-to-earnings-growth ratio of 7.00 and a beta of 1.30. The firm has a 50-day moving average price of $41.55 and a 200 day moving average price of $33.17.

Doximity (NASDAQ:DOCS - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.16 by $0.06. The company had revenue of $126.68 million for the quarter, compared to analysts' expectations of $119.88 million. Doximity had a net margin of 33.69% and a return on equity of 20.17%. As a group, research analysts forecast that Doximity will post 0.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

DOCS has been the topic of a number of research reports. Barclays raised their price objective on Doximity from $52.00 to $75.00 and gave the company an "overweight" rating in a report on Monday. Evercore ISI boosted their price objective on shares of Doximity from $34.00 to $45.00 and gave the stock an "in-line" rating in a report on Tuesday, October 8th. Canaccord Genuity Group increased their target price on shares of Doximity from $37.00 to $40.00 and gave the company a "buy" rating in a report on Tuesday, August 20th. Raymond James reissued an "outperform" rating and issued a $65.00 price target (up from $37.00) on shares of Doximity in a research note on Friday. Finally, Baird R W raised Doximity to a "strong-buy" rating in a research note on Tuesday, September 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $45.69.

Hedge Funds Weigh In On Doximity

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. William Blair Investment Management LLC raised its stake in shares of Doximity by 15.8% in the second quarter. William Blair Investment Management LLC now owns 6,404,068 shares of the company's stock worth $179,122,000 after purchasing an additional 873,682 shares during the last quarter. Clearbridge Investments LLC grew its stake in shares of Doximity by 7.1% in the second quarter. Clearbridge Investments LLC now owns 5,853,035 shares of the company's stock worth $163,709,000 after acquiring an additional 387,200 shares during the period. Swedbank AB purchased a new position in shares of Doximity during the first quarter valued at approximately $91,673,000. Janus Henderson Group PLC lifted its position in Doximity by 33.5% during the first quarter. Janus Henderson Group PLC now owns 2,474,695 shares of the company's stock valued at $66,594,000 after purchasing an additional 621,590 shares during the period. Finally, Capital World Investors raised its stake in Doximity by 250.7% during the 1st quarter. Capital World Investors now owns 1,714,707 shares of the company's stock valued at $46,143,000 after buying an additional 1,225,707 shares during the last quarter. 87.19% of the stock is 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.