Doximity (NASDAQ:DOCS) Rating Increased to Overweight at KeyCorp

Doximity (NASDAQ:DOCS) was upgraded by equities research analysts at KeyCorp from a “sector weight” rating to an “overweight” rating in a research report issued on Friday, MarketBeat.com reports. The brokerage currently has a $70.00 target price on the stock. KeyCorp’s target price suggests a potential upside of 20.17% from the stock’s previous close.

A number of other brokerages have also recently issued reports on DOCS. Bank of America upped their price objective on shares of Doximity from $32.00 to $45.00 and gave the company a “neutral” rating in a research note on Monday, October 7th. Robert W. Baird boosted their price objective on shares of Doximity from $41.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, September 17th. JPMorgan Chase & Co. increased their target price on shares of Doximity from $27.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Barclays upgraded Doximity from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $35.00 to $52.00 in a research report on Tuesday, October 15th. Finally, Truist Financial restated a “hold” rating and set a $35.00 target price (up previously from $31.00) on shares of Doximity in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $42.43.

Doximity Stock Up 34.2 %

Shares of DOCS stock opened at $58.25 on Friday. The business has a 50-day moving average price of $41.55 and a two-hundred day moving average price of $33.11. Doximity has a 12-month low of $20.28 and a 12-month high of $60.90. The firm has a market cap of $10.81 billion, a P/E ratio of 72.81, a price-to-earnings-growth ratio of 5.09 and a beta of 1.30.

Doximity (NASDAQ:DOCS) last issued its earnings results on Thursday, August 8th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.06. Doximity had a return on equity of 19.26% and a net margin of 32.53%. The business had revenue of $126.68 million during the quarter, compared to analyst estimates of $119.88 million. As a group, research analysts expect that Doximity will post 0.8 EPS for the current fiscal year.

Institutional Investors Weigh In On Doximity

A number of institutional investors have recently modified their holdings of DOCS. LRI Investments LLC purchased a new position in shares of Doximity in the 1st quarter worth about $27,000. Farther Finance Advisors LLC increased its stake in 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. Blue Trust Inc. raised its holdings in Doximity by 621.4% in the second quarter. Blue Trust Inc. now owns 1,385 shares of the company’s stock worth $37,000 after buying an additional 1,193 shares during the last quarter. Quarry LP lifted its stake in shares of Doximity by 101.2% in the second quarter. Quarry LP now owns 1,616 shares of the company’s stock worth $45,000 after buying an additional 131,253 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Doximity during the first quarter valued at approximately $46,000. 87.19% of the stock is owned by hedge funds and other institutional investors.

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.