Doximity (NASDAQ:DOCS) Given New $42.00 Price Target at Canaccord Genuity Group

Doximity (NASDAQ:DOCSGet Rating) had its price objective decreased by Canaccord Genuity Group from $47.00 to $42.00 in a research note released on Friday, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other equities research analysts have also commented on DOCS. The Goldman Sachs Group dropped their price target on Doximity from $72.00 to $56.00 and set a buy rating on the stock in a research report on Wednesday, May 18th. Robert W. Baird dropped their price target on Doximity from $68.00 to $45.00 in a research report on Wednesday, May 18th. Needham & Company LLC dropped their price target on Doximity from $70.00 to $45.00 and set a buy rating on the stock in a research report on Wednesday, May 18th. Canaccord Genuity Group dropped their target price on Doximity from $65.00 to $44.00 in a research report on Wednesday, May 18th. Finally, Jefferies Financial Group dropped their target price on Doximity from $78.00 to $46.00 and set a buy rating on the stock in a research report on Wednesday, May 18th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $48.60.

Doximity Trading Down 7.4 %

Shares of DOCS opened at $37.31 on Friday. Doximity has a 1 year low of $27.06 and a 1 year high of $107.79. The stock has a market cap of $7.20 billion, a P/E ratio of 53.30, a price-to-earnings-growth ratio of 11.69 and a beta of 0.78. The stock’s 50-day moving average price is $38.80 and its two-hundred day moving average price is $44.01.

Doximity (NASDAQ:DOCSGet Rating) last issued its earnings results on Tuesday, May 17th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.08. The firm had revenue of $93.65 million for the quarter, compared to analysts’ expectations of $90.17 million. Doximity had a return on equity of 18.38% and a net margin of 41.72%. The company’s revenue for the quarter was up 40.4% on a year-over-year basis. As a group, equities analysts forecast that Doximity will post 0.56 EPS for the current year.

Insider Transactions at Doximity

In other Doximity news, CRO Paul W. Jorgensen bought 15,000 shares of Doximity stock in a transaction dated Friday, May 20th. The stock was bought at an average cost of $32.19 per share, for a total transaction of $482,850.00. Following the purchase, the executive now owns 197,676 shares of the company’s stock, valued at approximately $6,363,190.44. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 45.21% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in DOCS. State Board of Administration of Florida Retirement System acquired a new position in shares of Doximity in the second quarter valued at about $2,742,000. Loomis Sayles & Co. L P increased its position in Doximity by 22.9% during the second quarter. Loomis Sayles & Co. L P now owns 2,727,492 shares of the company’s stock worth $94,971,000 after acquiring an additional 508,556 shares during the period. Royce & Associates LP increased its position in Doximity by 879.8% during the second quarter. Royce & Associates LP now owns 138,345 shares of the company’s stock worth $4,817,000 after acquiring an additional 124,225 shares during the period. Vestmark Advisory Solutions Inc. increased its position in Doximity by 31.5% during the second quarter. Vestmark Advisory Solutions Inc. now owns 10,161 shares of the company’s stock worth $354,000 after acquiring an additional 2,435 shares during the period. Finally, TD Asset Management Inc. increased its position in Doximity by 2.0% during the second quarter. TD Asset Management Inc. now owns 465,302 shares of the company’s stock worth $16,202,000 after acquiring an additional 9,100 shares during the period. Institutional investors own 67.88% of the company’s stock.

Doximity Company Profile

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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.

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Analyst Recommendations for Doximity (NASDAQ:DOCS)

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