Analysts Set Doximity, Inc. (NASDAQ:DOCS) PT at $62.84

Shares of Doximity, Inc. (NASDAQ:DOCS - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the twenty-two brokerages that are presently covering the company, Marketbeat reports. Eleven research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $62.84.

DOCS has been the subject of several recent research reports. Robert W. Baird lowered their price objective on shares of Doximity from $87.00 to $65.00 and set an "outperform" rating for the company in a research note on Tuesday, May 20th. Morgan Stanley lowered their price objective on shares of Doximity from $71.00 to $60.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. The Goldman Sachs Group set a $50.00 price objective on shares of Doximity and gave the company a "neutral" rating in a research note on Wednesday, May 21st. Raymond James Financial lowered their price objective on shares of Doximity from $83.00 to $65.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. Finally, Mizuho reduced their target price on shares of Doximity from $65.00 to $60.00 and set a "neutral" rating on the stock in a report on Friday, May 16th.

Doximity Price Performance

Shares of DOCS traded up $0.65 during mid-day trading on Friday, reaching $58.01. The stock had a trading volume of 1,394,331 shares, compared to its average volume of 2,150,517. Doximity has a 52-week low of $25.00 and a 52-week high of $85.21. The business's fifty day moving average is $55.64 and its 200 day moving average is $58.63. The firm has a market cap of $10.90 billion, a price-to-earnings ratio of 58.01, a P/E/G ratio of 4.10 and a beta of 1.32.

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

Insider Activity at Doximity

In related news, Director Kira Scherer Wampler sold 2,000 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $52.89, for a total value of $105,780.00. Following the completion of the transaction, the director now owns 16,618 shares of the company's stock, valued at approximately $878,926.02. The trade was a 10.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Anna Bryson sold 45,000 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $57.23, for a total transaction of $2,575,350.00. Following the completion of the transaction, the chief financial officer now directly owns 357,165 shares of the company's stock, valued at $20,440,552.95. The trade was a 11.19% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,000 shares of company stock valued at $2,900,770. 37.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

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

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.