Doximity (NASDAQ:DOCS) Trading Down 2.7%

Doximity, Inc. (NASDAQ:DOCS)’s share price dropped 2.7% on Friday . The company traded as low as $24.64 and last traded at $24.71. Approximately 1,251,945 shares traded hands during trading, a decline of 36% from the average daily volume of 1,952,065 shares. The stock had previously closed at $25.40.

Analyst Upgrades and Downgrades

A number of brokerages have commented on DOCS. Raymond James reduced their price objective on Doximity from $40.00 to $30.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 9th. Evercore ISI decreased their price target on Doximity from $24.00 to $21.00 in a report on Wednesday, October 11th. Morgan Stanley lifted their price objective on shares of Doximity from $21.00 to $25.00 and gave the company an “underweight” rating in a research note on Friday, November 10th. Piper Sandler upped their target price on shares of Doximity from $21.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, November 10th. Finally, Needham & Company LLC downgraded shares of Doximity from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $28.40.

Doximity Stock Performance

The company has a market cap of $4.58 billion, a P/E ratio of 42.48, a P/E/G ratio of 4.80 and a beta of 1.04. The business has a fifty day simple moving average of $21.74 and a 200 day simple moving average of $27.63.

Doximity (NASDAQ:DOCS) last released its quarterly earnings data on Thursday, November 9th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.05. The firm had revenue of $113.61 million during the quarter, compared to the consensus estimate of $109.19 million. Doximity had a net margin of 27.47% and a return on equity of 14.26%. Equities research analysts expect that Doximity, Inc. will post 0.6 EPS for the current year.

Hedge Funds Weigh In On Doximity

Large investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. bought a new stake in shares of Doximity in the 2nd quarter worth approximately $27,000. Quarry LP bought a new stake in Doximity in the first quarter valued at $38,000. American International Group Inc. acquired a new position in shares of Doximity during the second quarter valued at $43,000. Van ECK Associates Corp bought a new position in shares of Doximity during the second quarter worth about $67,000. Finally, Point72 Hong Kong Ltd increased its holdings in shares of Doximity by 50,950.0% in the 2nd quarter. Point72 Hong Kong Ltd now owns 2,042 shares of the company’s stock worth $71,000 after acquiring an additional 2,038 shares during the period. Institutional investors own 54.65% 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.