Doximity (NASDAQ:DOCS) PT Lowered to $44.00

Doximity (NASDAQ:DOCSGet Rating) had its price objective cut by Piper Sandler from $81.00 to $44.00 in a research note published on Wednesday, The Fly reports.

DOCS has been the subject of a number of other reports. Morgan Stanley reduced their target price on shares of Doximity from $55.00 to $35.00 and set an equal weight rating for the company in a report on Wednesday. Bank of America reduced their target price on shares of Doximity from $55.00 to $36.00 and set a neutral rating on the stock in a research note on Wednesday. Raymond James reduced their price target on shares of Doximity from $60.00 to $40.00 in a research note on Wednesday. The Goldman Sachs Group cut their target price on shares of Doximity from $72.00 to $56.00 and set a buy rating on the stock in a research report on Wednesday. Finally, Canaccord Genuity Group lowered their price target on shares of Doximity from $65.00 to $44.00 in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Doximity has an average rating of Buy and a consensus target price of $49.79.

NASDAQ:DOCS opened at $31.56 on Wednesday. Doximity has a one year low of $27.06 and a one year high of $107.79. The company’s 50-day simple moving average is $44.48 and its 200 day simple moving average is $51.27. The firm has a market capitalization of $6.04 billion and a P/E ratio of 45.74.

Doximity (NASDAQ:DOCSGet Rating) last issued its earnings results on Tuesday, May 17th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.06. The business had revenue of $93.65 million during the quarter, compared to analysts’ expectations of $90.17 million. Doximity had a net margin of 40.52% and a return on equity of 17.73%. The firm’s revenue for the quarter was up 40.4% compared to the same quarter last year. As a group, analysts anticipate that Doximity will post 0.6 earnings per share for the current year.

In other Doximity news, Director Gilbert H. Kliman sold 29,174 shares of the business’s stock in a transaction dated Wednesday, February 23rd. The shares were sold at an average price of $56.09, for a total transaction of $1,636,369.66. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gilbert H. Kliman sold 826 shares of the business’s stock in a transaction dated Friday, February 25th. The stock was sold at an average price of $59.00, for a total transaction of $48,734.00. The disclosure for this sale can be found here. Insiders sold 32,200 shares of company stock worth $1,801,924 in the last ninety days.

A number of large investors have recently modified their holdings of DOCS. Vanguard Group Inc. increased its stake in Doximity by 81.2% during the first quarter. Vanguard Group Inc. now owns 7,501,908 shares of the company’s stock worth $390,774,000 after purchasing an additional 3,362,575 shares during the period. Allianz Asset Management GmbH increased its stake in shares of Doximity by 153.8% during the first quarter. Allianz Asset Management GmbH now owns 4,170,440 shares of the company’s stock worth $217,238,000 after buying an additional 2,527,010 shares during the period. Clearbridge Investments LLC increased its stake in shares of Doximity by 559.5% during the first quarter. Clearbridge Investments LLC now owns 2,682,876 shares of the company’s stock worth $139,751,000 after buying an additional 2,276,056 shares during the period. Loomis Sayles & Co. L P purchased a new stake in shares of Doximity during the first quarter worth approximately $115,584,000. Finally, Invesco Ltd. increased its stake in shares of Doximity by 141.3% during the first quarter. Invesco Ltd. now owns 2,410,842 shares of the company’s stock worth $125,581,000 after buying an additional 1,411,849 shares during the period. Institutional investors own 67.88% of the company’s stock.

Doximity Company Profile (Get Rating)

Doximity, Inc operates a cloud-based digital platform for medical professionals in the United States. The company's cloud-based 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.

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