Analysts Set Doximity, Inc. (NASDAQ:DOCS) Price Target at $32.42

Shares of Doximity, Inc. (NASDAQ:DOCS) have earned an average recommendation of “Hold” from the fifteen brokerages that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $32.42.

Several research firms have weighed in on DOCS. Robert W. Baird upped their price target on Doximity from $41.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday. Truist Financial reiterated a “hold” rating and issued a $35.00 price target (up previously from $31.00) on shares of Doximity in a research note on Wednesday, August 14th. Wells Fargo & Company lowered Doximity from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $27.00 to $19.00 in a research report on Thursday, July 18th. Barclays boosted their target price on Doximity from $31.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Finally, Canaccord Genuity Group raised their price target on Doximity from $37.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, August 20th.

Insider Transactions at Doximity

In other Doximity news, CFO Anna Bryson sold 30,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now owns 309,627 shares in the company, valued at $10,836,945. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Kira Scherer Wampler sold 2,500 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $28.00, for a total value of $70,000.00. Following the transaction, the director now owns 10,258 shares of the company’s stock, valued at approximately $287,224. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Anna Bryson sold 30,000 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 309,627 shares of the company’s stock, valued at $10,836,945. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,951 shares of company stock worth $1,271,018. 39.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Doximity

A number of institutional investors have recently modified their holdings of the stock. LRI Investments LLC bought a new stake in shares of Doximity in the first quarter valued at about $27,000. Blue Trust Inc. increased its position in Doximity by 621.4% during the 2nd quarter. Blue Trust Inc. now owns 1,385 shares of the company’s stock valued at $37,000 after purchasing an additional 1,193 shares during the period. Quarry LP raised its holdings in shares of Doximity by 101.2% in the 2nd quarter. Quarry LP now owns 1,616 shares of the company’s stock valued at $45,000 after purchasing an additional 131,253 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Doximity in the 1st quarter worth approximately $46,000. Finally, First Horizon Advisors Inc. boosted its stake in shares of Doximity by 80.0% during the second quarter. First Horizon Advisors Inc. now owns 1,710 shares of the company’s stock valued at $48,000 after purchasing an additional 760 shares in the last quarter. 87.19% of the stock is owned by hedge funds and other institutional investors.

Doximity Price Performance

Shares of NASDAQ DOCS opened at $40.89 on Wednesday. Doximity has a 1 year low of $19.71 and a 1 year high of $41.05. The firm has a fifty day moving average price of $33.20 and a 200-day moving average price of $29.00. The stock has a market cap of $7.58 billion, a PE ratio of 56.79, a price-to-earnings-growth ratio of 5.15 and a beta of 1.27.

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