Doximity, Inc. (NASDAQ:DOCS) Receives $28.00 Consensus PT from Brokerages

Shares of Doximity, Inc. (NASDAQ:DOCS) have been assigned an average rating of “Hold” from the fifteen brokerages that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $28.00.

Several brokerages recently commented on DOCS. Needham & Company LLC reaffirmed a “hold” rating on shares of Doximity in a research report on Friday, May 17th. William Blair reissued an “outperform” rating on shares of Doximity in a report on Friday, May 17th. JPMorgan Chase & Co. raised Doximity from an “underweight” rating to a “neutral” rating and set a $25.00 price target for the company in a report on Thursday, April 25th. Morgan Stanley reiterated an “underweight” rating and issued a $25.00 price objective on shares of Doximity in a research report on Tuesday, April 23rd. Finally, Evercore ISI lifted their price objective on Doximity from $28.00 to $29.00 and gave the stock an “in-line” rating in a research report on Friday, May 17th.

Doximity Stock Down 3.7 %

Shares of DOCS stock opened at $25.99 on Tuesday. Doximity has a 12 month low of $19.71 and a 12 month high of $34.56. The business’s 50 day moving average is $28.00 and its two-hundred day moving average is $27.38. The company has a market cap of $4.82 billion, a PE ratio of 36.10, a price-to-earnings-growth ratio of 5.12 and a beta of 1.22.

Doximity (NASDAQ:DOCS) last announced its quarterly earnings data on Thursday, May 16th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.04. The business had revenue of $118.06 million for the quarter, compared to the consensus estimate of $116.46 million. Doximity had a net margin of 31.04% and a return on equity of 17.44%. As a group, equities analysts expect that Doximity will post 0.74 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Kira Scherer Wampler sold 2,500 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $28.18, for a total transaction of $70,450.00. Following the completion of the sale, the director now directly owns 10,258 shares of the company’s stock, valued at approximately $289,070.44. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Watkin Phoebe L. Yang sold 1,940 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $28.22, for a total transaction of $54,746.80. Following the completion of the sale, the director now directly owns 12,269 shares of the company’s stock, valued at approximately $346,231.18. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kira Scherer Wampler sold 2,500 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $28.18, for a total value of $70,450.00. Following the sale, the director now directly owns 10,258 shares of the company’s stock, valued at $289,070.44. The disclosure for this sale can be found here. In the last three months, insiders sold 50,940 shares of company stock valued at $1,499,022. 39.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Doximity

A number of large investors have recently bought and sold shares of the company. Los Angeles Capital Management LLC acquired a new position in Doximity during the 2nd quarter worth approximately $287,000. Arizona State Retirement System boosted its position in Doximity by 2.4% during the 2nd quarter. Arizona State Retirement System now owns 30,779 shares of the company’s stock worth $861,000 after acquiring an additional 725 shares during the last quarter. Convergence Investment Partners LLC acquired a new position in Doximity during the 2nd quarter worth approximately $358,000. Natixis Advisors LLC boosted its holdings in shares of Doximity by 13.7% in the 2nd quarter. Natixis Advisors LLC now owns 22,171 shares of the company’s stock valued at $620,000 after buying an additional 2,675 shares during the last quarter. Finally, nVerses Capital LLC acquired a new stake in shares of Doximity in the 2nd quarter valued at approximately $215,000. Institutional investors and hedge funds own 87.19% of the company’s stock.

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.