Doximity (NASDAQ:DOCS) Given New $67.00 Price Target at Needham & Company LLC

Doximity (NASDAQ:DOCS) had its price objective lowered by Needham & Company LLC from $82.00 to $67.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s target price would suggest a potential upside of 14.45% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Doximity in a research report on Friday, February 7th. Piper Sandler upgraded shares of Doximity from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $31.00 to $78.00 in a report on Friday, February 7th. Truist Financial lowered their price objective on shares of Doximity from $65.00 to $58.00 and set a “hold” rating on the stock in a research report on Thursday, April 10th. Leerink Partnrs raised shares of Doximity from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 7th. Finally, Morgan Stanley lowered their price target on shares of Doximity from $71.00 to $60.00 and set an “equal weight” rating on the stock in a report on Thursday, April 24th. Eleven research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $64.56.

Doximity Stock Performance

NASDAQ:DOCS opened at $58.54 on Friday. Doximity has a 52 week low of $23.52 and a 52 week high of $85.21. The firm has a 50-day moving average price of $57.58 and a two-hundred day moving average price of $57.65. The firm has a market cap of $10.93 billion, a price-to-earnings ratio of 58.54, a price-to-earnings-growth ratio of 4.10 and a beta of 1.41.

Doximity (NASDAQ:DOCS) last released its earnings results on Thursday, May 15th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.11. Doximity had a return on equity of 21.75% and a net margin of 36.60%. The company’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period last year, the firm earned $0.25 earnings per share. As a group, sell-side analysts forecast that Doximity will post 0.99 earnings per share for the current year.

Insider Buying and Selling at Doximity

In related news, Director Kira Scherer Wampler sold 2,000 shares of Doximity stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $56.93, for a total transaction of $113,860.00. Following the completion of the sale, the director now owns 16,618 shares of the company’s stock, valued at approximately $946,062.74. This trade represents a 10.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Anna Bryson sold 45,000 shares of the business’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $57.23, for a total value of $2,575,350.00. Following the transaction, the chief financial officer now owns 357,165 shares of the company’s stock, valued at approximately $20,440,552.95. The trade was a 11.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 37.40% of the company’s stock.

Institutional Trading of Doximity

Large investors have recently modified their holdings of the business. VSM Wealth Advisory LLC purchased a new position in Doximity in the 1st quarter worth approximately $29,000. Global Retirement Partners LLC increased its stake in Doximity by 468.1% in the fourth quarter. Global Retirement Partners LLC now owns 534 shares of the company’s stock valued at $29,000 after acquiring an additional 440 shares during the last quarter. Allworth Financial LP lifted its stake in Doximity by 104.0% during the first quarter. Allworth Financial LP now owns 563 shares of the company’s stock worth $32,000 after purchasing an additional 287 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Doximity by 69.1% in the 4th quarter. UMB Bank n.a. now owns 575 shares of the company’s stock worth $31,000 after purchasing an additional 235 shares in the last quarter. Finally, National Bank of Canada FI bought a new position in shares of Doximity during the 1st quarter valued at about $33,000. Institutional investors own 87.19% of the company’s stock.

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.