Doximity, Inc. (NASDAQ:DOCS) Receives $28.82 Consensus PT from Analysts

Shares of Doximity, Inc. (NASDAQ:DOCS) have been given an average recommendation of “Hold” by the fourteen research firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $28.82.

A number of research analysts have weighed in on DOCS shares. Leerink Partnrs reiterated a “market perform” rating on shares of Doximity in a research report on Monday, February 26th. JPMorgan Chase & Co. upped their price objective on shares of Doximity from $22.00 to $25.00 and gave the stock an “underweight” rating in a research report on Friday, March 15th. Wells Fargo & Company boosted their target price on shares of Doximity from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Friday, February 9th. SVB Leerink initiated coverage on shares of Doximity in a research note on Monday, February 26th. They set a “market perform” rating and a $32.00 target price for the company. Finally, Bank of America boosted 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 Tuesday, January 23rd.

Insider Activity at Doximity

In related news, Director Kira Scherer Wampler sold 2,500 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $26.97, for a total transaction of $67,425.00. Following the completion of the sale, the director now owns 10,258 shares of the company’s stock, valued at approximately $276,658.26. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 39.40% of the stock is owned by corporate insiders.

Institutional Trading of Doximity

Several hedge funds have recently made changes to their positions in the company. Rice Hall James & Associates LLC grew its stake in shares of Doximity by 4.1% in the 1st quarter. Rice Hall James & Associates LLC now owns 774,444 shares of the company’s stock valued at $20,840,000 after buying an additional 30,426 shares during the period. Louisiana State Employees Retirement System grew its stake in shares of Doximity by 6.0% in the 1st quarter. Louisiana State Employees Retirement System now owns 35,200 shares of the company’s stock valued at $947,000 after buying an additional 2,000 shares during the period. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Doximity in the 1st quarter valued at approximately $416,000. State of Michigan Retirement System grew its stake in shares of Doximity by 6.0% in the 1st quarter. State of Michigan Retirement System now owns 30,000 shares of the company’s stock valued at $807,000 after buying an additional 1,700 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Doximity in the 1st quarter valued at approximately $583,000. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Doximity Price Performance

NASDAQ DOCS opened at $24.57 on Friday. The company has a market capitalization of $4.58 billion, a PE ratio of 37.23, a P/E/G ratio of 3.10 and a beta of 1.17. The company has a fifty day moving average of $27.33 and a 200 day moving average of $26.21. Doximity has a 1 year low of $19.71 and a 1 year high of $37.06.

Doximity (NASDAQ:DOCS) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.06. The business had revenue of $135.28 million during the quarter, compared to the consensus estimate of $127.46 million. Doximity had a net margin of 29.39% and a return on equity of 16.08%. Research analysts expect that Doximity will post 0.72 earnings per share 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.