Doximity (NASDAQ:DOCS) Sets New 52-Week High at $37.72

Doximity, Inc. (NASDAQ:DOCS)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $37.72 and last traded at $37.19, with a volume of 209672 shares. The stock had previously closed at $36.83.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Needham & Company LLC upgraded Doximity from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research report on Friday, August 9th. Evercore ISI raised their price objective on Doximity from $29.00 to $34.00 and gave the company an “in-line” rating in a report on Friday, August 9th. Bank of America lifted their target price on shares of Doximity from $29.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. Canaccord Genuity Group increased their target price on shares of Doximity from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Finally, Truist Financial restated a “hold” rating and set a $35.00 price target (up from $31.00) on shares of Doximity in a research report on Wednesday, August 14th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $31.27.

Doximity Price Performance

The business has a fifty day moving average of $32.16 and a 200 day moving average of $28.67. The stock has a market capitalization of $7.30 billion, a price-to-earnings ratio of 54.61, a PEG ratio of 5.15 and a beta of 1.27.

Doximity (NASDAQ:DOCS) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The business had revenue of $126.68 million during the quarter, compared to analysts’ expectations of $119.88 million. Doximity had a return on equity of 19.26% and a net margin of 32.53%. On average, equities research analysts expect that Doximity, Inc. will post 0.8 EPS for the current year.

Insider Buying and Selling at Doximity

In related news, CFO Anna Bryson sold 30,000 shares of the stock in a transaction that occurred 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 approximately $10,836,945. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Doximity news, Director Kira Scherer Wampler sold 2,500 shares of Doximity stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $28.00, for a total value of $70,000.00. Following the completion of the transaction, the director now directly owns 10,258 shares of the company’s stock, valued at approximately $287,224. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Anna Bryson sold 30,000 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $35.00, for a total transaction of $1,050,000.00. Following the sale, the chief financial officer now directly owns 309,627 shares in the company, valued at approximately $10,836,945. The disclosure for this sale can be found here. Insiders sold a total of 37,951 shares of company stock worth $1,271,018 over the last three months. Insiders own 39.40% of the company’s stock.

Institutional Investors Weigh In On Doximity

Several large investors have recently added to or reduced their stakes in DOCS. Norges Bank purchased a new position in Doximity in the 4th quarter valued at approximately $35,995,000. Blair William & Co. IL grew its stake in Doximity by 31.7% during the 1st quarter. Blair William & Co. IL now owns 90,600 shares of the company’s stock worth $2,438,000 after purchasing an additional 21,787 shares in the last quarter. Edmond DE Rothschild Holding S.A. increased its holdings in Doximity by 15.1% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 2,302,240 shares of the company’s stock worth $64,555,000 after purchasing an additional 301,290 shares during the period. Pinebridge Investments L.P. acquired a new stake in Doximity in the 4th quarter valued at about $2,845,000. Finally, Acadian Asset Management LLC boosted its stake in shares of Doximity by 128.7% in the 1st quarter. Acadian Asset Management LLC now owns 96,442 shares of the company’s stock valued at $2,590,000 after buying an additional 54,281 shares during the period. 87.19% of the stock is owned by hedge funds and other institutional investors.

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.