Doximity, Inc. (NYSE:DOCS) Receives Average Recommendation of “Hold” from Analysts

Shares of Doximity, Inc. (NYSE:DOCS) have received an average rating of “Hold” from the twenty-six ratings firms that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $32.1818.

DOCS has been the subject of several research analyst reports. Piper Sandler reissued an “overweight” rating and issued a $47.00 price target (up from $42.00) on shares of Doximity in a research note on Friday, August 7th. Freedom Capmkts cut shares of Doximity from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 8th. Evercore set a $40.00 price objective on shares of Doximity in a research report on Friday, August 7th. JPMorgan Chase & Co. lifted their price objective on shares of Doximity from $26.00 to $31.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $41.00 target price on shares of Doximity in a research report on Friday, August 7th.

Insiders Place Their Bets

In other Doximity news, Director Kira Wampler sold 2,000 shares of Doximity stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $24.95, for a total transaction of $49,900.00. Following the completion of the sale, the director owned 19,839 shares of the company’s stock, valued at $494,983.05. The trade was a 9.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Timothy Cabral sold 7,500 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $39.11, for a total value of $293,325.00. Following the completion of the transaction, the director owned 3,221 shares of the company’s stock, valued at $125,973.31. The trade was a 69.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 13,347 shares of company stock valued at $441,412 over the last 90 days. Insiders own 31.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC lifted its holdings in shares of Doximity by 111.0% in the 1st quarter. Parallel Advisors LLC now owns 2,560 shares of the company’s stock worth $60,000 after acquiring an additional 1,347 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Doximity by 937.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,833 shares of the company’s stock valued at $66,000 after purchasing an additional 2,560 shares during the last quarter. Continuum Advisory LLC bought a new position in shares of Doximity during the 2nd quarter valued at $67,000. Leonteq Securities AG raised its position in Doximity by 65.6% in the 1st quarter. Leonteq Securities AG now owns 2,912 shares of the company’s stock worth $68,000 after purchasing an additional 1,154 shares during the period. Finally, Nykredit A S purchased a new position in Doximity in the 2nd quarter worth $96,000. 87.19% of the stock is currently owned by institutional investors.

Doximity Trading Up 0.4%

Shares of DOCS opened at $25.91 on Thursday. The company has a market cap of $4.62 billion, a PE ratio of 30.48, a price-to-earnings-growth ratio of 20.19 and a beta of 1.25. The stock has a 50-day moving average price of $23.91 and a 200-day moving average price of $23.12. Doximity has a 12-month low of $17.15 and a 12-month high of $76.51.

Doximity (NYSE:DOCS) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.13. The company had revenue of $156.62 million for the quarter. Doximity had a net margin of 25.48% and a return on equity of 18.06%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the company posted $0.36 earnings per share. As a group, analysts predict that Doximity will post 0.74 earnings per share for the current year.

About Doximity

Doximity, Inc operates a digital platform for U.S. medical professionals. Its network enables physicians and other healthcare providers to communicate, collaborate, access medical news and research, maintain professional profiles, and connect with colleagues and patients.

The company offers a range of tools for healthcare organizations and professionals, including telehealth services, digital faxing, scheduling and communication products, and solutions for recruiting and marketing. Doximity also provides pharmaceutical and healthcare companies with digital engagement services designed to reach medical professionals through its platform.

Founded in 2010, Doximity is headquartered in San Francisco and primarily serves the United States healthcare market.