Doximity, Inc. (NASDAQ:DOCS) Receives Average Recommendation of “Moderate Buy” from Analysts

Doximity, Inc. (NASDAQ:DOCS) has been given an average rating of “Moderate Buy” by the twenty-one brokerages that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, fifteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $65.7368.

Several brokerages have recently issued reports on DOCS. JPMorgan Chase & Co. reissued an “underweight” rating and set a $62.00 price objective on shares of Doximity in a research report on Friday, October 10th. Truist Financial set a $62.00 target price on Doximity in a report on Thursday, January 8th. Evercore ISI reissued an “outperform” rating on shares of Doximity in a research note on Thursday, January 8th. Royal Bank Of Canada assumed coverage on Doximity in a research report on Thursday, January 8th. They set an “outperform” rating and a $59.00 price objective for the company. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of Doximity in a report on Monday, December 29th.

Insider Buying and Selling at Doximity

In other news, Director Kira Scherer Wampler sold 2,000 shares of Doximity stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $66.44, for a total value of $132,880.00. Following the sale, the director directly owned 19,839 shares in the company, valued at $1,318,103.16. This trade represents a 9.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 31.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Voya Investment Management LLC lifted its position in Doximity by 932.8% during the 3rd quarter. Voya Investment Management LLC now owns 1,567,668 shares of the company’s stock worth $114,267,000 after buying an additional 1,415,882 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Doximity by 53.9% in the second quarter. Franklin Resources Inc. now owns 3,162,593 shares of the company’s stock valued at $193,993,000 after acquiring an additional 1,108,162 shares during the last quarter. Capital World Investors raised its holdings in Doximity by 25.7% during the third quarter. Capital World Investors now owns 5,381,431 shares of the company’s stock worth $393,652,000 after acquiring an additional 1,101,848 shares in the last quarter. Victory Capital Management Inc. boosted its position in Doximity by 525.3% during the third quarter. Victory Capital Management Inc. now owns 1,096,965 shares of the company’s stock valued at $80,243,000 after purchasing an additional 921,533 shares during the last quarter. Finally, Holocene Advisors LP bought a new position in Doximity in the second quarter valued at approximately $44,983,000. Institutional investors own 87.19% of the company’s stock.

Doximity Price Performance

NASDAQ DOCS opened at $37.40 on Friday. Doximity has a one year low of $37.33 and a one year high of $85.21. The firm has a market cap of $7.04 billion, a P/E ratio of 37.40, a P/E/G ratio of 4.10 and a beta of 1.39. The stock’s 50-day moving average is $44.41 and its 200-day moving average is $57.65.

Doximity (NASDAQ:DOCS) last posted its earnings results on Thursday, November 6th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.07. Doximity had a return on equity of 21.75% and a net margin of 36.60%.During the same quarter in the previous year, the business posted $0.30 earnings per share. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. Equities analysts anticipate that Doximity will post 0.99 EPS for the current year.

Doximity Company Profile

Doximity, Inc, headquartered in San Francisco, California, operates the leading professional medical network for healthcare professionals in the United States. Founded in 2011 by Jeff Tangney and Shari Buck, the company set out to create a secure digital environment where physicians, nurse practitioners and physician assistants can collaborate, share information and stay current with clinical news. Doximity went public in June 2021 and trades on the NASDAQ under the ticker symbol “DOCS.”

The core offering of Doximity is its HIPAA-compliant communication platform, which includes a secure messaging system, digital fax services and telehealth capabilities.