Doximity, Inc. (NASDAQ:DOCS) Receives $53.12 Consensus Price Target from Analysts

Shares of Doximity, Inc. (NASDAQ:DOCS) have received an average recommendation of “Hold” from the twenty brokerages that are presently covering the firm, MarketBeat reports. Thirteen research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $53.12.

A number of research firms recently weighed in on DOCS. Bank of America raised their target price on shares of Doximity from $54.00 to $57.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Barclays lifted their price objective on shares of Doximity from $52.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Wells Fargo & Company upped their target price on shares of Doximity from $41.00 to $43.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Raymond James reiterated an “outperform” rating and issued a $65.00 price target (up previously from $37.00) on shares of Doximity in a research report on Friday, November 8th. Finally, Canaccord Genuity Group downgraded Doximity from a “buy” rating to a “hold” rating and upped their price objective for the company from $40.00 to $60.00 in a research report on Wednesday, November 13th.

Hedge Funds Weigh In On Doximity

A number of hedge funds have recently added to or reduced their stakes in DOCS. American Century Companies Inc. increased its stake in shares of Doximity by 0.9% during the second quarter. American Century Companies Inc. now owns 209,772 shares of the company’s stock valued at $5,867,000 after buying an additional 1,786 shares during the period. Envestnet Asset Management Inc. grew its holdings in Doximity by 16.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 148,584 shares of the company’s stock worth $4,156,000 after acquiring an additional 21,005 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Doximity by 28.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,267,067 shares of the company’s stock valued at $35,439,000 after purchasing an additional 281,239 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Doximity by 34.5% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 12,510 shares of the company’s stock valued at $350,000 after purchasing an additional 3,209 shares in the last quarter. Finally, Blair William & Co. IL lifted its position in shares of Doximity by 10.5% in the 2nd quarter. Blair William & Co. IL now owns 100,139 shares of the company’s stock worth $2,801,000 after purchasing an additional 9,539 shares during the period. 87.19% of the stock is currently owned by institutional investors.

Doximity Stock Down 0.6 %

Shares of DOCS stock opened at $55.69 on Tuesday. The stock has a market cap of $10.40 billion, a P/E ratio of 64.02, a PEG ratio of 4.39 and a beta of 1.38. The company’s fifty day simple moving average is $53.66 and its two-hundred day simple moving average is $43.22. Doximity has a 52 week low of $22.96 and a 52 week high of $61.75.

Doximity (NASDAQ:DOCS) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.02). The firm had revenue of $136.83 million for the quarter, compared to the consensus estimate of $127.05 million. Doximity had a net margin of 33.69% and a return on equity of 19.79%. During the same period in the previous year, the company posted $0.18 earnings per share. On average, analysts anticipate that Doximity will post 0.88 EPS for the current fiscal year.

Doximity Company Profile

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.