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

Shares of Doximity, Inc. (NASDAQ:DOCS - Get Free Report) have been assigned an average rating of "Moderate Buy" from the twenty-two brokerages that are presently covering the firm, MarketBeat.com reports. Eleven research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $62.84.

A number of analysts recently issued reports on the company. Robert W. Baird lowered their price target on Doximity from $87.00 to $65.00 and set an "outperform" rating for the company in a research report on Tuesday, May 20th. KeyCorp reduced their target price on shares of Doximity from $83.00 to $70.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. William Blair restated an "outperform" rating on shares of Doximity in a report on Friday, May 16th. Raymond James Financial cut their price target on shares of Doximity from $83.00 to $65.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Doximity from $63.00 to $60.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 27th.

Doximity Stock Down 2.4%

Doximity stock opened at $57.10 on Friday. The company's 50-day moving average price is $55.44 and its 200-day moving average price is $58.53. The company has a market cap of $10.72 billion, a PE ratio of 57.10, a price-to-earnings-growth ratio of 4.10 and a beta of 1.32. Doximity has a twelve month low of $25.00 and a twelve month high of $85.21.

Doximity (NASDAQ:DOCS - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.27 by $0.11. Doximity had a return on equity of 21.75% and a net margin of 36.60%. During the same period last year, the company earned $0.25 earnings per share. The company's revenue for the quarter was up 17.1% on a year-over-year basis. As a group, sell-side analysts expect that Doximity will post 0.99 earnings per share for the current fiscal year.

Insider Activity at Doximity

In other news, Director Kira Scherer Wampler sold 2,000 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $52.89, for a total transaction of $105,780.00. Following the transaction, the director now owns 16,618 shares of the company's stock, valued at approximately $878,926.02. This represents a 10.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Anna Bryson sold 45,000 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were 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 in the company, valued at approximately $20,440,552.95. This represents a 11.19% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,000 shares of company stock worth $2,900,770. Company insiders own 37.40% of the company's stock.

Institutional Trading of Doximity

Several institutional investors and hedge funds have recently made changes to their positions in the company. Global Retirement Partners LLC increased its position in Doximity by 468.1% during the 4th quarter. Global Retirement Partners LLC now owns 534 shares of the company's stock valued at $29,000 after purchasing an additional 440 shares during the period. VSM Wealth Advisory LLC purchased a new stake in shares of Doximity in the 1st quarter worth approximately $29,000. Allworth Financial LP boosted its stake in shares of Doximity by 104.0% during the first quarter. Allworth Financial LP now owns 563 shares of the company's stock valued at $32,000 after purchasing an additional 287 shares in the last quarter. National Bank of Canada FI purchased a new position in Doximity during the first quarter valued at approximately $33,000. Finally, Spire Wealth Management increased its holdings in Doximity by 73.2% during the first quarter. Spire Wealth Management now owns 615 shares of the company's stock valued at $36,000 after buying an additional 260 shares during the period. 87.19% of the stock is currently owned by institutional investors.

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.

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