Doximity (NASDAQ:DOCS) Raised to Overweight at Barclays

Barclays upgraded shares of Doximity (NASDAQ:DOCS - Free Report) from an equal weight rating to an overweight rating in a report published on Tuesday morning, MarketBeat reports. Barclays currently has $52.00 price objective on the stock, up from their previous price objective of $35.00.

Other equities research analysts have also recently issued research reports about the company. Evercore ISI raised their target price on Doximity from $34.00 to $45.00 and gave the stock an in-line rating in a research note on Tuesday, October 8th. Canaccord Genuity Group lifted their price objective on shares of Doximity from $37.00 to $40.00 and gave the stock a buy rating in a report on Tuesday, August 20th. Needham & Company LLC raised Doximity from a hold rating to a buy rating and set a $38.00 price objective on the stock in a research report on Friday, August 9th. Baird R W raised shares of Doximity to a strong-buy rating in a report on Tuesday, September 17th. Finally, Morgan Stanley lifted their target price on shares of Doximity from $25.00 to $26.00 and gave the stock an underweight rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus target price of $35.83.

Doximity Trading Up 4.5 %

NASDAQ DOCS traded up $1.90 during trading on Tuesday, reaching $43.86. The company's stock had a trading volume of 2,205,328 shares, compared to its average volume of 1,705,213. Doximity has a 12 month low of $19.89 and a 12 month high of $44.88. The firm has a 50 day moving average price of $38.24 and a 200 day moving average price of $30.81. The firm has a market capitalization of $8.13 billion, a price-to-earnings ratio of 58.26, a price-to-earnings-growth ratio of 5.29 and a beta of 1.29.

Doximity (NASDAQ:DOCS - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.06. The company had revenue of $126.68 million for the quarter, compared to analyst estimates of $119.88 million. Doximity had a return on equity of 19.26% and a net margin of 32.53%. On average, equities analysts forecast that Doximity will post 0.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Anna Bryson sold 30,000 shares of Doximity stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $35.00, for a total value of $1,050,000.00. Following the sale, the chief financial officer now directly owns 309,627 shares of the company's stock, valued at $10,836,945. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Doximity news, CFO Anna Bryson sold 30,000 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $35.00, for a total value of $1,050,000.00. Following the transaction, the chief financial officer now directly owns 309,627 shares in the company, valued at $10,836,945. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Watkin Phoebe L. Yang sold 1,011 shares of the company's stock in a transaction on Monday, August 5th. The stock was sold at an average price of $25.54, for a total transaction of $25,820.94. Following the transaction, the director now owns 11,258 shares of the company's stock, valued at approximately $287,529.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,451 shares of company stock valued at $1,201,018. 39.40% of the stock is owned by insiders.

Institutional Trading of Doximity

Several large investors have recently added to or reduced their stakes in the business. Apella Capital LLC raised its position in Doximity by 19.4% during the first quarter. Apella Capital LLC now owns 46,843 shares of the company's stock valued at $1,238,000 after acquiring an additional 7,626 shares in the last quarter. RFG Advisory LLC boosted its stake in Doximity by 6.0% in the first quarter. RFG Advisory LLC now owns 24,726 shares of the company's stock worth $665,000 after purchasing an additional 1,401 shares in the last quarter. Oak Thistle LLC bought a new position in Doximity in the 1st quarter worth approximately $323,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Doximity during the 1st quarter valued at $583,000. Finally, State of Michigan Retirement System increased its stake in Doximity by 6.0% in the first quarter. State of Michigan Retirement System now owns 30,000 shares of the company's stock valued at $807,000 after purchasing an additional 1,700 shares in the last quarter. 87.19% of the stock is currently owned by institutional investors and hedge funds.

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.