Barclays Forecasts Strong Price Appreciation for Doximity (NYSE:DOCS) Stock

Key Points

• Barclays raised its Doximity price target from $27 to $30 but maintained an “equal weight” rating; the target implies about 8% downside from the stock’s then-current price of $32.61.
• Analyst sentiment was broadly neutral: Doximity had a consensus “Hold” rating and an average price target of $30.59, with 8 Buy, 14 Hold, and 3 Sell ratings.
• Doximity reported quarterly EPS of $0.36, beating the $0.19 consensus estimate, while revenue rose 3.6% year over year to $174.54 million.

Doximity (NYSE:DOCS - Get Free Report) had its target price lifted by Barclays from $27.00 to $30.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an "equal weight" rating on the stock. Barclays's price target would suggest a potential downside of 8.01% from the stock's current price.

A number of other research firms have also recently weighed in on DOCS. Freedom Capital cut shares of Doximity from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 8th. JPMorgan Chase & Co. upped their target price on shares of Doximity from $26.00 to $31.00 and gave the company a "neutral" rating in a report on Friday, August 7th. Stifel Nicolaus set a $27.00 target price on shares of Doximity in a report on Tuesday, September 8th. Canaccord Genuity Group increased their target price on shares of Doximity from $36.00 to $40.00 and gave the company a "buy" rating in a research report on Friday, November 6th. Finally, Raymond James Financial reiterated an "outperform" rating and set a $38.00 price target on shares of Doximity in a research note on Friday, October 16th. Eight equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $30.59.

Doximity Stock Performance

NYSE DOCS traded up $0.19 during trading on Wednesday, reaching $32.61. 133,931 shares of the company's stock were exchanged, compared to its average volume of 3,861,229. The stock has a market cap of $5.81 billion, a P/E ratio of 45.03, a price-to-earnings-growth ratio of 34.25 and a beta of 1.29. The company has a 50 day moving average price of $29.33 and a two-hundred day moving average price of $25.43. Doximity has a 1 year low of $17.15 and a 1 year high of $53.46.

Doximity (NYSE:DOCS - Get Free Report) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.19 by $0.17. Doximity had a return on equity of 15.80% and a net margin of 21.12%. The business had revenue of $174.54 million for the quarter. During the same quarter in the previous year, the company posted $0.45 EPS. The company's revenue was up 3.6% compared to the same quarter last year. Research analysts forecast that Doximity will post 0.74 EPS for the current fiscal year.

Insider Buying and Selling at Doximity

In related news, Director Kira Wampler sold 2,000 shares of the company's stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $32.89, for a total value of $65,780.00. Following the completion of the sale, the director owned 27,923 shares in the company, valued at $918,387.47. This represents a 6.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Timothy Cabral sold 10,721 shares of the stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $35.00, for a total transaction of $375,235.00. Following the sale, the director owned 8,084 shares of the company's stock, valued at approximately $282,940. This represents a 57.01% 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. Over the last quarter, insiders sold 24,471 shares of company stock valued at $761,545. Insiders own 31.80% of the company's stock.

Institutional Investors Weigh In On Doximity

A number of institutional investors and hedge funds have recently made changes to their positions in DOCS. Private Wealth Asset Management LLC purchased a new stake in Doximity during the 3rd quarter valued at approximately $278,000. Ieq Capital LLC increased its holdings in shares of Doximity by 95.7% in the third quarter. Ieq Capital LLC now owns 93,151 shares of the company's stock valued at $2,640,000 after purchasing an additional 45,556 shares during the period. Landscape Capital Management L.L.C. purchased a new stake in shares of Doximity during the third quarter worth approximately $931,000. Global Retirement Partners LLC raised its stake in shares of Doximity by 6,017.7% during the third quarter. Global Retirement Partners LLC now owns 11,073 shares of the company's stock worth $314,000 after purchasing an additional 10,892 shares during the last quarter. Finally, Edgestream Partners L.P. purchased a new stake in shares of Doximity during the third quarter worth approximately $6,926,000. 87.19% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Doximity

These are some of the DOCS headlines that stood out recently:

• Positive Sentiment: A recent report highlighted that 16 of the 20 largest pharmaceutical companies had purchased Doximity AI search programs, while quarterly active workflow prescribers grew 34% year over year—potential signs of demand for its products. Doximity: 3 Key Takeaways for Long-Term Investors
• Neutral Sentiment: Director Timothy Cabral sold 10,721 shares for about $375,000. The sale was made under a pre-arranged Rule 10b5-1 plan, which may lessen its significance as a signal about the company’s outlook. Doximity insider sale
• Negative Sentiment: Multiple law firms reminded investors of a securities class action covering purchases from August 8, 2024, through May 13, 2026, with a November 16 lead-plaintiff deadline. The complaint alleges Doximity failed to disclose issues including market-share losses, slowing growth, and changes in pharmaceutical customers’ advertising strategies. The allegations are not findings, but the litigation may add uncertainty and reputational risk. Class action reminder

About Doximity

Doximity, Inc. operates a digital platform designed for medical professionals, including physicians and other clinicians. Its services support professional networking, medical news and research discovery, career development, and communication among healthcare professionals. The company also offers clinical workflow tools, including Doximity Dialer, which enables clinicians to make calls and conduct video visits using a work number, as well as digital fax and document services. Doximity provides marketing and recruitment solutions to healthcare organizations and life sciences companies.

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