Doximity (NASDAQ:DOCS) Raised to Equal Weight at Wells Fargo & Company

Doximity (NASDAQ:DOCS) was upgraded by equities research analysts at Wells Fargo & Company from an “underweight” rating to an “equal weight” rating in a note issued to investors on Friday, MarketBeat reports. The firm presently has a $41.00 target price on the stock, up from their previous target price of $19.00. Wells Fargo & Company‘s price objective indicates a potential downside of 29.61% from the stock’s current price.

A number of other equities research analysts also recently weighed in on DOCS. Evercore ISI boosted their target price on Doximity from $34.00 to $45.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 8th. Morgan Stanley boosted their price objective on Doximity from $26.00 to $33.00 and gave the stock an “underweight” rating in a report on Wednesday, October 30th. Baird R W raised shares of Doximity to a “strong-buy” rating in a research note on Tuesday, September 17th. Barclays upgraded shares of Doximity from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $35.00 to $52.00 in a research report on Tuesday, October 15th. Finally, Canaccord Genuity Group increased their price objective on shares of Doximity from $37.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $42.43.

Doximity Trading Up 34.2 %

Shares of NASDAQ DOCS opened at $58.25 on Friday. Doximity has a 1-year low of $20.28 and a 1-year high of $60.90. The company has a 50-day moving average of $41.55 and a two-hundred day moving average of $33.11. The company has a market cap of $10.81 billion, a PE ratio of 72.81, a P/E/G ratio of 5.09 and a beta of 1.30.

Doximity (NASDAQ:DOCS) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.06. The firm had revenue of $126.68 million during the quarter, compared to analysts’ expectations of $119.88 million. Doximity had a net margin of 32.53% and a return on equity of 19.26%. As a group, equities research analysts forecast that Doximity will post 0.8 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DOCS. Farther Finance Advisors LLC lifted its holdings in shares of Doximity by 324.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 789 shares of the company’s stock valued at $34,000 after purchasing an additional 603 shares in the last quarter. LRI Investments LLC bought a new position in Doximity in the first quarter valued at approximately $27,000. Blue Trust Inc. boosted its holdings in shares of Doximity by 621.4% in the second quarter. Blue Trust Inc. now owns 1,385 shares of the company’s stock valued at $37,000 after buying an additional 1,193 shares during the period. GAMMA Investing LLC increased its position in shares of Doximity by 40.1% during the third quarter. GAMMA Investing LLC now owns 1,439 shares of the company’s stock worth $63,000 after acquiring an additional 412 shares in the last quarter. Finally, Quarry LP raised its holdings in shares of Doximity by 101.2% during the second quarter. Quarry LP now owns 1,616 shares of the company’s stock worth $45,000 after acquiring an additional 131,253 shares during the period. 87.19% of the stock is 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.