Doximity (NASDAQ:DOCS) Stock Rating Upgraded by JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Doximity (NASDAQ:DOCS) from an underweight rating to a neutral rating in a research report released on Thursday, Marketbeat Ratings reports. The brokerage currently has $25.00 price objective on the stock.

A number of other equities analysts have also weighed in on DOCS. Bank of America upped their target price on Doximity from $29.00 to $32.00 and gave the stock a neutral rating in a research note on Tuesday, January 23rd. Truist Financial upped their target price on Doximity from $28.00 to $29.00 and gave the stock a hold rating in a research note on Friday, February 9th. Barclays initiated coverage on Doximity in a research note on Wednesday, January 3rd. They issued an equal weight rating and a $31.00 target price on the stock. Morgan Stanley restated an underweight rating and issued a $25.00 target price on shares of Doximity in a research note on Tuesday, April 23rd. Finally, Wells Fargo & Company upped their target price on Doximity from $25.00 to $27.00 and gave the stock an equal weight rating in a research note on Friday, February 9th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $28.82.

Doximity Stock Performance

Shares of DOCS opened at $23.82 on Thursday. The stock’s 50-day simple moving average is $26.95 and its 200 day simple moving average is $26.24. The stock has a market capitalization of $4.44 billion, a price-to-earnings ratio of 36.09, a price-to-earnings-growth ratio of 3.00 and a beta of 1.17. Doximity has a 52-week low of $19.71 and a 52-week high of $36.92.

Doximity (NASDAQ:DOCS) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.06. The business had revenue of $135.28 million for the quarter, compared to analysts’ expectations of $127.46 million. Doximity had a return on equity of 16.08% and a net margin of 29.39%. On average, research analysts forecast that Doximity will post 0.72 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Kira Scherer Wampler sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $26.97, for a total transaction of $67,425.00. Following the transaction, the director now directly owns 10,258 shares in the company, valued at approximately $276,658.26. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 39.40% of the company’s stock.

Hedge Funds Weigh In On Doximity

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Doximity by 5.9% in the 3rd quarter. Vanguard Group Inc. now owns 11,038,475 shares of the company’s stock worth $234,236,000 after buying an additional 616,157 shares during the period. Baillie Gifford & Co. lifted its holdings in Doximity by 0.9% in the 3rd quarter. Baillie Gifford & Co. now owns 6,656,242 shares of the company’s stock worth $141,245,000 after buying an additional 57,078 shares during the period. Edmond DE Rothschild Holding S.A. lifted its holdings in Doximity by 15.1% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 2,302,240 shares of the company’s stock worth $64,555,000 after buying an additional 301,290 shares during the period. Norges Bank purchased a new position in shares of Doximity in the 4th quarter valued at approximately $35,995,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Doximity by 9.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,229,750 shares of the company’s stock valued at $26,095,000 after purchasing an additional 107,776 shares during the period. 87.19% of the stock is currently 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.