JPMorgan Chase & Co. Has $33.11 Million Holdings in Doximity, Inc. $DOCS

JPMorgan Chase & Co. decreased its holdings in shares of Doximity, Inc. (NASDAQ:DOCS) by 5.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 452,604 shares of the company’s stock after selling 26,508 shares during the period. JPMorgan Chase & Co.’s holdings in Doximity were worth $33,108,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Hantz Financial Services Inc. boosted its stake in Doximity by 148.9% in the second quarter. Hantz Financial Services Inc. now owns 453 shares of the company’s stock valued at $28,000 after acquiring an additional 271 shares during the last quarter. Root Financial Partners LLC bought a new stake in shares of Doximity during the 3rd quarter valued at $30,000. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Doximity by 59.5% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 480 shares of the company’s stock valued at $35,000 after purchasing an additional 179 shares during the period. Toth Financial Advisory Corp boosted its position in shares of Doximity by 150.0% in the 3rd quarter. Toth Financial Advisory Corp now owns 500 shares of the company’s stock worth $37,000 after purchasing an additional 300 shares during the last quarter. Finally, Atlantic Union Bankshares Corp grew its stake in shares of Doximity by 136.9% during the third quarter. Atlantic Union Bankshares Corp now owns 616 shares of the company’s stock worth $45,000 after purchasing an additional 356 shares during the period. 87.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on DOCS shares. Canaccord Genuity Group set a $34.00 target price on Doximity and gave the company a “buy” rating in a research note on Monday, February 9th. Needham & Company LLC cut their price target on shares of Doximity from $75.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. BMO Capital Markets set a $25.00 price objective on shares of Doximity in a report on Friday, February 6th. Wells Fargo & Company lowered their target price on shares of Doximity from $55.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, February 6th. Finally, Evercore reissued an “outperform” rating on shares of Doximity in a research report on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $48.33.

Doximity Stock Performance

NASDAQ DOCS opened at $24.48 on Friday. The business has a 50 day simple moving average of $36.38 and a 200 day simple moving average of $53.08. Doximity, Inc. has a 52-week low of $23.53 and a 52-week high of $76.51. The stock has a market cap of $4.52 billion, a price-to-earnings ratio of 24.48, a PEG ratio of 4.10 and a beta of 1.39.

Doximity (NASDAQ:DOCS) last announced its quarterly earnings results on Thursday, February 5th. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. Doximity had a net margin of 36.60% and a return on equity of 21.75%. The business’s revenue was up 9.8% on a year-over-year basis. During the same period last year, the company earned $0.45 EPS. On average, analysts predict that Doximity, Inc. will post 0.99 EPS for the current year.

Doximity announced that its board has initiated a stock buyback plan on Thursday, February 5th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Doximity Company Profile

Doximity, Inc, headquartered in San Francisco, California, operates the leading professional medical network for healthcare professionals in the United States. Founded in 2011 by Jeff Tangney and Shari Buck, the company set out to create a secure digital environment where physicians, nurse practitioners and physician assistants can collaborate, share information and stay current with clinical news. Doximity went public in June 2021 and trades on the NASDAQ under the ticker symbol “DOCS.”

The core offering of Doximity is its HIPAA-compliant communication platform, which includes a secure messaging system, digital fax services and telehealth capabilities.