Doximity, Inc. (NYSE:DOCS) Receives Average Rating of “Hold” from Analysts

Doximity, Inc. (NYSE:DOCS) has been assigned a consensus rating of “Hold” from the twenty-three analysts that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $30.6190.

Several research analysts have commented on DOCS shares. Loop Capital set a $31.00 price objective on Doximity in a report on Tuesday, March 17th. The Goldman Sachs Group reduced their price objective on Doximity from $28.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, May 14th. Leerink Partners reduced their price objective on Doximity from $31.00 to $25.00 and set an “outperform” rating on the stock in a report on Thursday, May 14th. Morgan Stanley reduced their price objective on Doximity from $49.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, May 14th. Finally, Freedom Capital upgraded Doximity to a “strong-buy” rating in a report on Tuesday, March 17th.

Insider Buying and Selling at Doximity

In other news, insider Siddharth Sitaram sold 2,427 shares of Doximity stock in a transaction on Friday, April 10th. The stock was sold at an average price of $21.09, for a total value of $51,185.43. Following the transaction, the insider directly owned 86,705 shares in the company, valued at approximately $1,828,608.45. This trade represents a 2.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kira Scherer Wampler sold 9,000 shares of Doximity stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $26.06, for a total value of $234,540.00. Following the completion of the transaction, the director owned 19,839 shares in the company, valued at $517,004.34. This represents a 31.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 13,736 shares of company stock worth $345,228 over the last 90 days. 31.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in DOCS. Royal Bank of Canada increased its holdings in shares of Doximity by 24.2% in the 1st quarter. Royal Bank of Canada now owns 106,845 shares of the company’s stock valued at $6,200,000 after acquiring an additional 20,847 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Doximity by 0.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,978 shares of the company’s stock valued at $2,262,000 after acquiring an additional 210 shares during the period. NewEdge Advisors LLC increased its holdings in shares of Doximity by 613.7% in the 1st quarter. NewEdge Advisors LLC now owns 6,323 shares of the company’s stock valued at $367,000 after acquiring an additional 5,437 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Doximity by 33.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 255,529 shares of the company’s stock valued at $14,828,000 after acquiring an additional 63,873 shares during the period. Finally, Focus Partners Wealth purchased a new position in shares of Doximity in the 1st quarter valued at $283,000. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

Doximity Stock Performance

Shares of NYSE DOCS opened at $20.31 on Tuesday. The business has a 50 day simple moving average of $22.56. Doximity has a fifty-two week low of $17.15 and a fifty-two week high of $76.51. The stock has a market capitalization of $3.71 billion, a P/E ratio of 20.52, a price-to-earnings-growth ratio of 3.50 and a beta of 1.30.

Doximity Company Profile

Doximity, trading as DOCS, operates a digital professional network and communications platform designed primarily for clinicians. Headquartered in San Francisco, the company connects physicians, nurse practitioners, physician assistants and other healthcare professionals, providing tools that streamline clinical communication, telehealth delivery and access to specialty-specific medical information. Its platform is positioned as a professional hub where clinicians manage their workflows, stay current with medical news and collaborate securely with peers.

The company’s offerings include secure messaging and video telehealth capabilities that enable clinicians to consult with patients and colleagues while protecting patient information.