Doximity, Inc. (NYSE:DOCS) Given Consensus Recommendation of “Hold” by Analysts

Doximity, Inc. (NYSE:DOCS) has been assigned an average recommendation of “Hold” from the twenty-four analysts that are covering the firm, MarketBeat reports. Four research analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation, six have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $29.3333.

DOCS has been the subject of several research reports. Royal Bank Of Canada reiterated an “outperform” rating and issued a $44.00 target price on shares of Doximity in a research report on Monday, March 9th. Barclays reaffirmed an “equal weight” rating and set a $20.00 price target (down from $38.00) on shares of Doximity in a research note on Thursday, May 14th. Bank of America reiterated an “underperform” rating and set a $20.00 price objective (down from $38.00) on shares of Doximity in a research report on Monday, June 29th. Truist Financial reissued a “hold” rating and set a $19.00 price objective (down from $29.00) on shares of Doximity in a report on Thursday, May 14th. Finally, Evercore downgraded Doximity from an “outperform” rating to an “in-line” rating and set a $25.00 target price for the company. in a research report on Wednesday, April 8th.

Insider Activity at Doximity

In other news, Director Kira Scherer Wampler sold 9,000 shares of the business’s stock in a transaction that occurred 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 sale, the director directly owned 19,839 shares in the company, valued at approximately $517,004.34. The trade was a 31.21% 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. Also, insider Siddharth Sitaram sold 2,444 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $20.41, for a total transaction of $49,882.04. Following the transaction, the insider directly owned 90,706 shares in the company, valued at approximately $1,851,309.46. This represents a 2.62% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Insiders have sold 16,180 shares of company stock worth $395,110 over the last three months. Insiders own 31.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of DOCS. Carmignac Gestion boosted its holdings in Doximity by 127.8% during the 1st quarter. Carmignac Gestion now owns 4,311,997 shares of the company’s stock valued at $100,480,000 after acquiring an additional 2,418,971 shares during the period. SG Americas Securities LLC increased its stake in Doximity by 3,403.2% in the 1st quarter. SG Americas Securities LLC now owns 1,408,597 shares of the company’s stock worth $32,820,000 after purchasing an additional 1,368,388 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Doximity by 325,436.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,298,891 shares of the company’s stock valued at $57,515,000 after purchasing an additional 1,298,492 shares during the last quarter. Federated Hermes Inc. lifted its position in Doximity by 3,422.7% in the fourth quarter. Federated Hermes Inc. now owns 1,249,085 shares of the company’s stock valued at $55,309,000 after purchasing an additional 1,213,627 shares during the last quarter. Finally, Capital World Investors boosted its stake in shares of Doximity by 25.7% during the third quarter. Capital World Investors now owns 5,381,431 shares of the company’s stock valued at $393,652,000 after purchasing an additional 1,101,848 shares during the period. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Doximity Price Performance

DOCS stock opened at $21.86 on Friday. The firm has a 50 day simple moving average of $21.62 and a two-hundred day simple moving average of $28.20. The stock has a market cap of $4.00 billion, a PE ratio of 22.09, a P/E/G ratio of 6.79 and a beta of 1.30. Doximity has a one year low of $17.15 and a one year high of $76.51.

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.