Doximity (NASDAQ:DOCS) Earns Outperform Rating from Raymond James

Raymond James reiterated their outperform rating on shares of Doximity (NASDAQ:DOCS - Free Report) in a research report sent to investors on Friday,Benzinga reports. Raymond James currently has a $83.00 price target on the stock, up from their prior price target of $65.00.

Other research analysts have also recently issued research reports about the stock. Mizuho initiated coverage on shares of Doximity in a report on Wednesday, December 4th. They issued a "neutral" rating and a $55.00 price target for the company. Morgan Stanley raised shares of Doximity from an "underweight" rating to an "equal weight" rating and raised their target price for the stock from $33.00 to $53.00 in a report on Thursday, November 14th. Stephens began coverage on shares of Doximity in a report on Friday, December 20th. They set an "equal weight" rating and a $55.00 target price for the company. Canaccord Genuity Group reissued a "hold" rating and set a $60.00 target price (up previously from $40.00) on shares of Doximity in a report on Wednesday, November 13th. Finally, Wells Fargo & Company raised their price target on shares of Doximity from $43.00 to $55.00 and gave the company an "equal weight" rating in a research report on Friday. Eleven equities research analysts have rated the stock with a hold rating, eight have issued 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.

Doximity Stock Performance

DOCS traded down $7.64 during trading on Friday, hitting $75.50. The stock had a trading volume of 6,834,375 shares, compared to its average volume of 2,189,295. The stock has a 50 day simple moving average of $56.20 and a two-hundred day simple moving average of $46.30. The company has a market capitalization of $14.09 billion, a PE ratio of 75.50, a PEG ratio of 4.61 and a beta of 1.39. Doximity has a twelve month low of $22.96 and a twelve month high of $85.21.

Insider Transactions at Doximity

In other Doximity news, Director Timothy S. Cabral sold 20,000 shares of the 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 sale, the director now directly owns 6,360 shares in the company, valued at $366,463.20. This represents a 75.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 37.40% of the company's stock.

Institutional Investors Weigh In On Doximity

Hedge funds have recently added to or reduced their stakes in the business. FMR LLC increased its position in shares of Doximity by 30.5% in the 3rd quarter. FMR LLC now owns 6,837,733 shares of the company's stock valued at $297,920,000 after purchasing an additional 1,598,602 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of Doximity in the 3rd quarter valued at approximately $29,453,000. Los Angeles Capital Management LLC increased its position in shares of Doximity by 6,242.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 650,874 shares of the company's stock valued at $28,359,000 after purchasing an additional 640,612 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Doximity in the 3rd quarter valued at approximately $24,691,000. Finally, Geode Capital Management LLC increased its position in shares of Doximity by 19.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,856,984 shares of the company's stock valued at $124,503,000 after purchasing an additional 472,565 shares during the last quarter. 87.19% of the stock is currently owned by institutional investors and hedge funds.

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.