Doximity, Inc. (NASDAQ:DOCS) Receives Average Rating of "Moderate Buy" from Analysts

Doximity, Inc. (NASDAQ:DOCS - Get Free Report) has been assigned an average rating of "Moderate Buy" from the twenty-one research firms that are currently covering the stock, Marketbeat.com reports. Eleven analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $65.39.

Several equities research analysts have weighed in on DOCS shares. Bank of America increased their target price on shares of Doximity from $54.00 to $57.00 and gave the stock a "neutral" rating in a report on Monday, January 6th. Truist Financial dropped their price objective on Doximity from $65.00 to $58.00 and set a "hold" rating on the stock in a research note on Thursday, April 10th. Leerink Partners raised Doximity from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $60.00 to $90.00 in a research note on Friday, February 7th. Leerink Partnrs raised Doximity from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 7th. Finally, Wells Fargo & Company reiterated an "equal weight" rating on shares of Doximity in a report on Friday, February 7th.

Doximity Trading Down 3.8 %

Shares of DOCS stock traded down $2.26 on Thursday, reaching $57.13. The company had a trading volume of 1,764,709 shares, compared to its average volume of 2,005,802. The stock has a market cap of $10.67 billion, a PE ratio of 57.13, a PEG ratio of 4.10 and a beta of 1.41. The company has a 50-day moving average of $58.58 and a 200-day moving average of $56.90. Doximity has a 12 month low of $22.96 and a 12 month high of $85.21.

Insider Buying and Selling at Doximity

In other news, CFO Anna Bryson sold 45,000 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $57.23, for a total value of $2,575,350.00. Following the transaction, the chief financial officer now owns 357,165 shares of the company's stock, valued at approximately $20,440,552.95. This represents a 11.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kira Scherer Wampler sold 2,000 shares of Doximity stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $56.93, for a total value of $113,860.00. Following the sale, the director now directly owns 16,618 shares of the company's stock, valued at approximately $946,062.74. The trade was a 10.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 37.40% of the company's stock.

Hedge Funds Weigh In On Doximity

A number of hedge funds have recently bought and sold shares of DOCS. Morse Asset Management Inc acquired a new position in shares of Doximity during the 3rd quarter worth approximately $46,000. Barclays PLC raised its holdings in Doximity by 60.5% in the 3rd quarter. Barclays PLC now owns 53,401 shares of the company's stock valued at $2,327,000 after acquiring an additional 20,125 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Doximity in the 3rd quarter valued at about $24,691,000. Franklin Resources Inc. raised its position in shares of Doximity by 564.1% in the 3rd quarter. Franklin Resources Inc. now owns 83,098 shares of the company's stock valued at $3,487,000 after buying an additional 70,585 shares in the last quarter. Finally, American Trust bought a new stake in shares of Doximity during the 3rd quarter worth approximately $247,000. 87.19% of the stock is owned by institutional investors.

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.