Doximity, Inc. (NASDAQ:DOCS) Receives $34.42 Consensus Price Target from Brokerages

Shares of Doximity, Inc. (NASDAQ:DOCS) have been assigned an average recommendation of “Hold” from the fifteen research firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $35.83.

Several research analysts have recently weighed in on the stock. Morgan Stanley increased their price objective on shares of Doximity from $25.00 to $26.00 and gave the stock an “underweight” rating in a report on Friday, August 9th. Baird R W upgraded shares of Doximity to a “strong-buy” rating in a report on Tuesday, September 17th. JPMorgan Chase & Co. upped their price objective on Doximity from $27.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Robert W. Baird lifted their target price on Doximity from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, September 17th. Finally, Wells Fargo & Company lowered Doximity from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $27.00 to $19.00 in a research note on Thursday, July 18th.

Insider Buying and Selling at Doximity

In other Doximity news, CFO Anna Bryson sold 30,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $35.00, for a total transaction of $1,050,000.00. Following the completion of the transaction, the chief financial officer now owns 309,627 shares of the company’s stock, valued at $10,836,945. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Doximity news, Director Watkin Phoebe L. Yang sold 1,011 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $25.54, for a total transaction of $25,820.94. Following the sale, the director now directly owns 11,258 shares of the company’s stock, valued at approximately $287,529.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Anna Bryson sold 30,000 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $35.00, for a total value of $1,050,000.00. Following the completion of the transaction, the chief financial officer now owns 309,627 shares in the company, valued at $10,836,945. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,451 shares of company stock worth $1,201,018 over the last ninety days. 39.40% of the stock is currently owned by insiders.

Institutional Trading of Doximity

Institutional investors have recently bought and sold shares of the business. William Blair Investment Management LLC grew its stake in shares of Doximity by 15.8% during the second quarter. William Blair Investment Management LLC now owns 6,404,068 shares of the company’s stock worth $179,122,000 after purchasing an additional 873,682 shares during the period. Clearbridge Investments LLC boosted its position in shares of Doximity by 7.1% during the second quarter. Clearbridge Investments LLC now owns 5,853,035 shares of the company’s stock worth $163,709,000 after purchasing an additional 387,200 shares in the last quarter. Swedbank AB acquired a new stake in Doximity during the 1st quarter worth $91,673,000. Janus Henderson Group PLC lifted its holdings in Doximity by 33.5% during the first quarter. Janus Henderson Group PLC now owns 2,474,695 shares of the company’s stock worth $66,594,000 after acquiring an additional 621,590 shares in the last quarter. Finally, Capital World Investors raised its position in shares of Doximity by 250.7% during the first quarter. Capital World Investors now owns 1,714,707 shares of the company’s stock worth $46,143,000 after purchasing an additional 1,225,707 shares during the period. Institutional investors and hedge funds own 87.19% of the company’s stock.

Doximity Stock Performance

Shares of DOCS opened at $43.83 on Friday. Doximity has a fifty-two week low of $19.89 and a fifty-two week high of $44.88. The company has a market capitalization of $8.13 billion, a PE ratio of 60.88, a price-to-earnings-growth ratio of 5.29 and a beta of 1.29. The stock has a fifty day moving average of $38.60 and a two-hundred day moving average of $30.93.

Doximity (NASDAQ:DOCS) last released its earnings results on Thursday, August 8th. The company reported $0.22 EPS for the quarter, beating 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 firm had revenue of $126.68 million during the quarter, compared to analyst estimates of $119.88 million. As a group, equities research analysts forecast that Doximity will post 0.8 earnings per share for the current fiscal year.

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.