Brokerages Set Doximity, Inc. (NASDAQ:DOCS) Price Target at $61.22

Shares of Doximity, Inc. (NASDAQ:DOCS) have received an average rating of “Moderate Buy” from the twenty-one ratings firms that are currently covering the firm, Marketbeat reports. Eleven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $61.89.

DOCS has been the subject of several research reports. Morgan Stanley lowered their price objective on shares of Doximity from $71.00 to $60.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Robert W. Baird lowered their price objective on shares of Doximity from $87.00 to $65.00 and set an “outperform” rating for the company in a research note on Tuesday, May 20th. Piper Sandler upgraded shares of Doximity from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $31.00 to $78.00 in a research note on Friday, February 7th. Raymond James lowered their price objective on shares of Doximity from $83.00 to $65.00 and set an “outperform” rating for the company in a research note on Friday, May 16th. Finally, Leerink Partnrs upgraded shares of Doximity from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 7th.

Doximity Trading Down 1.0%

NASDAQ DOCS opened at $51.59 on Monday. The firm’s fifty day simple moving average is $55.68 and its two-hundred day simple moving average is $58.15. Doximity has a 12-month low of $25.00 and a 12-month high of $85.21. The firm has a market capitalization of $9.63 billion, a P/E ratio of 51.59, a P/E/G ratio of 4.10 and a beta of 1.41.

Doximity (NASDAQ:DOCS) last posted its quarterly earnings data on Thursday, May 15th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.27 by $0.11. Doximity had a net margin of 36.60% and a return on equity of 21.75%. During the same quarter in the prior year, the company earned $0.25 earnings per share. The firm’s revenue was up 17.1% on a year-over-year basis. As a group, sell-side analysts predict that Doximity will post 0.99 earnings per share for the current fiscal year.

Insider Activity at Doximity

In other Doximity news, CFO Anna Bryson sold 45,000 shares of Doximity stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $57.23, for a total value of $2,575,350.00. Following the completion of the transaction, the chief financial officer now owns 357,165 shares of the company’s stock, valued at approximately $20,440,552.95. The trade was a 11.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kira Scherer Wampler sold 2,000 shares of Doximity stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $56.93, for a total transaction of $113,860.00. Following the completion of the transaction, the director now directly owns 16,618 shares of the company’s stock, valued at $946,062.74. The trade was a 10.74% decrease in their position. The disclosure for this sale can be found here. 37.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. VSM Wealth Advisory LLC purchased a new position in Doximity in the first quarter valued at $29,000. Global Retirement Partners LLC increased its stake in shares of Doximity by 468.1% during the fourth quarter. Global Retirement Partners LLC now owns 534 shares of the company’s stock worth $29,000 after purchasing an additional 440 shares in the last quarter. Allworth Financial LP increased its stake in shares of Doximity by 104.0% during the first quarter. Allworth Financial LP now owns 563 shares of the company’s stock worth $32,000 after purchasing an additional 287 shares in the last quarter. UMB Bank n.a. increased its stake in shares of Doximity by 69.1% during the fourth quarter. UMB Bank n.a. now owns 575 shares of the company’s stock worth $31,000 after purchasing an additional 235 shares in the last quarter. Finally, National Bank of Canada FI purchased a new stake in shares of Doximity during the first quarter worth about $33,000. Hedge funds and other institutional investors own 87.19% of the company’s stock.

About Doximity

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.