Doximity (NASDAQ:DOCS) Price Target Raised to $67.00 at Canaccord Genuity Group

Key Points

• Canaccord Genuity Group has raised its price target for Doximity (NASDAQ:DOCS) from $59.00 to $67.00, indicating a potential downside of 8.21% from the current price, while holding a "hold" rating on the stock.
• Doximity's stock has seen mixed ratings from analysts, with one analyst rating it as a Strong Buy, ten as Buy, and eleven as Hold, resulting in an average price target of $67.42.
• The company reported strong earnings with a quarterly EPS of $0.36, beating the consensus estimate, alongside a 15.2% year-over-year revenue growth.

Doximity (NASDAQ:DOCS - Get Free Report) had its target price raised by research analysts at Canaccord Genuity Group from $59.00 to $67.00 in a research note issued on Thursday, MarketBeat Ratings reports. The firm presently has a "hold" rating on the stock. Canaccord Genuity Group's price objective would suggest a potential downside of 8.08% from the stock's current price.

DOCS has been the subject of a number of other research reports. Evercore ISI raised shares of Doximity from an "in-line" rating to an "outperform" rating and lifted their price objective for the company from $50.00 to $70.00 in a report on Wednesday, July 9th. Bank of America boosted their target price on shares of Doximity from $55.00 to $62.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 25th. Piper Sandler boosted their target price on shares of Doximity from $65.00 to $69.00 and gave the stock an "overweight" rating in a research note on Monday, August 11th. KeyCorp boosted their target price on shares of Doximity from $65.00 to $70.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Finally, Wells Fargo & Company boosted their target price on shares of Doximity from $55.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, Doximity presently has a consensus rating of "Moderate Buy" and an average target price of $67.42.

Doximity Trading Down 1.0%

DOCS traded down $0.71 on Thursday, reaching $72.89. The stock had a trading volume of 2,853,244 shares, compared to its average volume of 2,206,223. Doximity has a 12-month low of $40.15 and a 12-month high of $85.21. The business's 50-day moving average price is $64.76 and its two-hundred day moving average price is $60.03. The company has a market cap of $13.65 billion, a P/E ratio of 72.89, a price-to-earnings-growth ratio of 4.10 and a beta of 1.37.

Doximity (NASDAQ:DOCS - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.05. Doximity had a net margin of 36.60% and a return on equity of 21.75%. During the same period in the previous year, the business earned $0.28 earnings per share. The firm's quarterly revenue was up 15.2% compared to the same quarter last year. Doximity has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. As a group, analysts predict that Doximity will post 0.99 earnings per share for the current year.

Insider Buying and Selling

In other Doximity news, Director Kira Scherer Wampler sold 2,000 shares of the business's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $57.09, for a total value of $114,180.00. Following the transaction, the director directly owned 16,618 shares in the company, valued at $948,721.62. The trade was a 10.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Timothy S. Cabral sold 10,000 shares of the business's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $60.00, for a total transaction of $600,000.00. Following the completion of the transaction, the director owned 6,360 shares in the company, valued at $381,600. The trade was a 61.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,000 shares of company stock worth $2,281,880. 31.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Doximity

Institutional investors and hedge funds have recently bought and sold shares of the company. Hantz Financial Services Inc. boosted its holdings in Doximity by 148.9% in the 2nd quarter. Hantz Financial Services Inc. now owns 453 shares of the company's stock valued at $28,000 after purchasing an additional 271 shares during the last quarter. VSM Wealth Advisory LLC acquired a new position in shares of Doximity in the 1st quarter worth approximately $29,000. Allworth Financial LP lifted its holdings in shares of Doximity by 104.0% in the 1st quarter. Allworth Financial LP now owns 563 shares of the company's stock worth $32,000 after acquiring an additional 287 shares during the last quarter. National Bank of Canada FI acquired a new position in shares of Doximity in the 1st quarter worth approximately $33,000. Finally, Spire Wealth Management lifted its holdings in shares of Doximity by 73.2% in the 1st quarter. Spire Wealth Management now owns 615 shares of the company's stock worth $36,000 after acquiring an additional 260 shares during the last quarter. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Doximity Company Profile

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.