Doximity, Inc. (NASDAQ:DOCS) Given Average Rating of “Hold” by Brokerages

Doximity, Inc. (NASDAQ:DOCS) has been assigned a consensus rating of “Hold” from the twenty analysts that are currently covering the firm, MarketBeat Ratings reports. Thirteen equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $53.12.

DOCS has been the subject of several recent analyst reports. Morgan Stanley raised shares of Doximity from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $33.00 to $53.00 in a research note on Thursday, November 14th. JPMorgan Chase & Co. raised their price objective on shares of Doximity from $30.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. Mizuho started coverage on Doximity in a research note on Wednesday, December 4th. They set a “neutral” rating and a $55.00 target price on the stock. KeyCorp dropped their price objective on Doximity from $70.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $65.00 price objective (up previously from $37.00) on shares of Doximity in a research report on Friday, November 8th.

Institutional Investors Weigh In On Doximity

A number of large investors have recently made changes to their positions in DOCS. Silver Oak Securities Incorporated purchased a new position in Doximity in the 4th quarter worth $314,000. State of Alaska Department of Revenue raised its stake in shares of Doximity by 2.6% in the fourth quarter. State of Alaska Department of Revenue now owns 14,610 shares of the company’s stock worth $780,000 after purchasing an additional 370 shares during the last quarter. Bleakley Financial Group LLC lifted its holdings in shares of Doximity by 39.7% during the fourth quarter. Bleakley Financial Group LLC now owns 6,839 shares of the company’s stock worth $365,000 after purchasing an additional 1,943 shares during the period. Choreo LLC purchased a new stake in Doximity in the fourth quarter valued at approximately $256,000. Finally, Stratos Wealth Partners LTD. acquired a new position in Doximity in the 4th quarter worth approximately $203,000. 87.19% of the stock is owned by hedge funds and other institutional investors.

Doximity Price Performance

Shares of DOCS opened at $55.38 on Tuesday. The business’s 50 day simple moving average is $53.86 and its 200-day simple moving average is $43.86. Doximity has a 1 year low of $22.96 and a 1 year high of $61.75. The stock has a market capitalization of $10.34 billion, a price-to-earnings ratio of 63.66, a price-to-earnings-growth ratio of 4.43 and a beta of 1.38.

Doximity (NASDAQ:DOCS) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.02). The company had revenue of $136.83 million during the quarter, compared to the consensus estimate of $127.05 million. Doximity had a net margin of 33.69% and a return on equity of 19.79%. During the same period in the previous year, the business earned $0.18 earnings per share. On average, sell-side analysts expect that Doximity will post 0.88 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.