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

Shares of Doximity, Inc. (NYSE:DOCS) have been assigned a consensus rating of “Hold” from the twenty-five brokerages that are currently covering the stock, MarketBeat reports. Four analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation, seven have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $32.4286.

Several equities analysts recently issued reports on DOCS shares. Canaccord Genuity Group set a $36.00 price objective on Doximity in a research note on Friday, August 7th. Evercore set a $40.00 target price on shares of Doximity in a research note on Friday, August 7th. Barclays increased their target price on shares of Doximity from $20.00 to $27.00 and gave the stock an “equal weight” rating in a report on Friday, August 21st. Zacks Research upgraded shares of Doximity from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Finally, Truist Financial lifted their price target on shares of Doximity from $19.00 to $24.00 and gave the company a “hold” rating in a report on Thursday, August 13th.

Insiders Place Their Bets

In other Doximity news, insider Siddharth Sitaram sold 2,444 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $20.41, for a total value of $49,882.04. Following the transaction, the insider owned 90,706 shares of the company’s stock, valued at $1,851,309.46. This trade represents a 2.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 2,000 shares of Doximity stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $24.95, for a total value of $49,900.00. Following the completion of the transaction, the director owned 19,839 shares of the company’s stock, valued at approximately $494,983.05. The trade was a 9.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 13,714 shares of company stock valued at $437,251 over the last quarter. Insiders own 31.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DOCS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake 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 worth $2,262,000 after buying an additional 210 shares in the last quarter. BOKF NA boosted its stake in Doximity by 5.3% during the third quarter. BOKF NA now owns 5,356 shares of the company’s stock valued at $392,000 after buying an additional 269 shares in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its stake in Doximity by 1.1% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 30,736 shares of the company’s stock valued at $1,361,000 after buying an additional 333 shares in the last quarter. Lifestyle Asset Management Inc. grew its holdings in Doximity by 5.9% during the fourth quarter. Lifestyle Asset Management Inc. now owns 7,083 shares of the company’s stock worth $314,000 after acquiring an additional 396 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Doximity by 99.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 796 shares of the company’s stock worth $35,000 after acquiring an additional 397 shares during the period. Institutional investors and hedge funds own 87.19% of the company’s stock.

Doximity Stock Up 4.5%

Shares of Doximity stock opened at $26.74 on Friday. The business has a 50-day moving average price of $22.71 and a 200 day moving average price of $23.08. Doximity has a fifty-two week low of $17.15 and a fifty-two week high of $76.51. The firm has a market cap of $4.77 billion, a P/E ratio of 31.46, a P/E/G ratio of 20.91 and a beta of 1.29.

Doximity (NYSE:DOCS) last released its earnings results on Thursday, August 6th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.13. The company had revenue of $156.62 million for the quarter. Doximity had a return on equity of 18.06% and a net margin of 25.48%.The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.36 EPS. As a group, equities research analysts anticipate that Doximity will post 0.74 earnings per share for the current year.

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.