Brokerages Set Doximity, Inc. (NASDAQ:DOCS) PT at $67.95

Shares of Doximity, Inc. (NASDAQ:DOCS) have received an average rating of “Moderate Buy” from the twenty-two research firms that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, seven have given a hold recommendation, eleven have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $68.2105.

A number of equities research analysts have commented on DOCS shares. The Goldman Sachs Group set a $64.00 price target on Doximity and gave the company a “sell” rating in a research report on Wednesday, October 1st. Evercore ISI reduced their target price on Doximity from $81.00 to $70.00 and set an “outperform” rating on the stock in a report on Friday, November 7th. KeyCorp increased their target price on shares of Doximity from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, October 8th. JPMorgan Chase & Co. restated an “underweight” rating and set a $62.00 price target on shares of Doximity in a report on Friday, October 10th. Finally, Raymond James Financial raised shares of Doximity from an “outperform” rating to a “strong-buy” rating and reduced their price objective for the company from $75.00 to $65.00 in a research note on Friday, November 21st.

Insiders Place Their Bets

In other Doximity news, Director Regina M. Benjamin sold 5,000 shares of the stock in a transaction dated Friday, October 10th. The stock was sold at an average price of $70.84, for a total transaction of $354,200.00. Following the completion of the sale, the director directly owned 19,839 shares in the company, valued at approximately $1,405,394.76. This trade represents a 20.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Timothy S. Cabral sold 20,000 shares of the company’s stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $75.00, for a total value of $1,500,000.00. Following the sale, the director owned 3,221 shares in the company, valued at approximately $241,575. The trade was a 86.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 27,000 shares of company stock worth $1,987,080. Company insiders own 31.30% of the company’s stock.

Institutional Trading of Doximity

Large investors have recently modified their holdings of the stock. Voya Investment Management LLC boosted its position in shares of Doximity by 932.8% during the 3rd quarter. Voya Investment Management LLC now owns 1,567,668 shares of the company’s stock worth $114,267,000 after purchasing an additional 1,415,882 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Doximity by 130.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,966,801 shares of the company’s stock worth $114,133,000 after buying an additional 1,113,076 shares during the period. Franklin Resources Inc. boosted its holdings in Doximity by 53.9% in the second quarter. Franklin Resources Inc. now owns 3,162,593 shares of the company’s stock worth $193,993,000 after acquiring an additional 1,108,162 shares in the last quarter. Capital World Investors grew its stake in Doximity by 25.7% in the third quarter. Capital World Investors now owns 5,381,431 shares of the company’s stock valued at $393,652,000 after acquiring an additional 1,101,848 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in shares of Doximity by 525.3% during the third quarter. Victory Capital Management Inc. now owns 1,096,965 shares of the company’s stock valued at $80,243,000 after acquiring an additional 921,533 shares in the last quarter. Institutional investors and hedge funds own 87.19% of the company’s stock.

Doximity Price Performance

DOCS opened at $43.76 on Friday. Doximity has a fifty-two week low of $43.59 and a fifty-two week high of $85.21. The company’s 50 day moving average price is $56.88 and its two-hundred day moving average price is $61.38. The firm has a market capitalization of $8.24 billion, a price-to-earnings ratio of 43.76, a PEG ratio of 4.10 and a beta of 1.38.

Doximity (NASDAQ:DOCS) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.07. Doximity had a net margin of 36.60% and a return on equity of 21.75%. During the same quarter last year, the firm earned $0.30 EPS. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, equities research analysts predict that Doximity will post 0.99 EPS for the current 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.