Doximity, Inc. (NASDAQ:DOCS) Receives $28.73 Average Price Target from Analysts

Doximity, Inc. (NASDAQ:DOCS) has received an average rating of “Hold” from the fifteen research firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $28.73.

Several research analysts recently weighed in on DOCS shares. William Blair reissued an “outperform” rating on shares of Doximity in a research report on Friday, May 17th. Morgan Stanley reissued an “underweight” rating and issued a $25.00 price target on shares of Doximity in a research report on Tuesday, April 23rd. Evercore ISI boosted their price objective on shares of Doximity from $28.00 to $29.00 and gave the company an “in-line” rating in a research report on Friday, May 17th. JPMorgan Chase & Co. upgraded shares of Doximity from an “underweight” rating to a “neutral” rating and set a $25.00 target price for the company in a research report on Thursday, April 25th. Finally, Needham & Company LLC restated a “hold” rating on shares of Doximity in a report on Friday, May 17th.

Insiders Place Their Bets

In other news, CFO Anna Bryson sold 30,000 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $30.00, for a total transaction of $900,000.00. Following the transaction, the chief financial officer now owns 288,685 shares of the company’s stock, valued at approximately $8,660,550. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Anna Bryson sold 30,000 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $30.00, for a total transaction of $900,000.00. Following the completion of the sale, the chief financial officer now directly owns 288,685 shares of the company’s stock, valued at approximately $8,660,550. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Timothy S. Cabral sold 10,000 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $30.00, for a total transaction of $300,000.00. Following the completion of the transaction, the director now owns 10,258 shares in the company, valued at $307,740. The disclosure for this sale can be found here. Insiders sold 46,500 shares of company stock valued at $1,373,825 over the last quarter. Insiders own 39.40% of the company’s stock.

Hedge Funds Weigh In On Doximity

Several large investors have recently made changes to their positions in the business. LRI Investments LLC bought a new position in Doximity in the 1st quarter worth approximately $27,000. First Horizon Advisors Inc. grew its stake in shares of Doximity by 111.3% in the fourth quarter. First Horizon Advisors Inc. now owns 995 shares of the company’s stock worth $28,000 after acquiring an additional 524 shares during the last quarter. GAMMA Investing LLC bought a new position in Doximity during the fourth quarter worth $40,000. DekaBank Deutsche Girozentrale bought a new position in Doximity during the first quarter worth $46,000. Finally, Essex Investment Management Co. LLC acquired a new position in Doximity during the 1st quarter valued at $73,000. Institutional investors and hedge funds own 87.19% of the company’s stock.

Doximity Price Performance

Doximity stock opened at $27.08 on Friday. Doximity has a fifty-two week low of $19.71 and a fifty-two week high of $36.29. The firm’s 50 day simple moving average is $27.15 and its 200-day simple moving average is $27.46. The company has a market cap of $5.02 billion, a P/E ratio of 37.61, a price-to-earnings-growth ratio of 5.08 and a beta of 1.22.

Doximity (NASDAQ:DOCS) last posted its quarterly earnings data on Thursday, May 16th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.04. The firm had revenue of $118.06 million for the quarter, compared to analysts’ expectations of $116.46 million. Doximity had a net margin of 31.04% and a return on equity of 17.44%. On average, analysts expect that Doximity will post 0.74 EPS for the current fiscal year.

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.