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

Shares of Doximity, Inc. (NASDAQ:DOCS - Get Free Report) have been given an average rating of "Moderate Buy" by the twenty-two brokerages that are covering the company, MarketBeat Ratings reports. Ten equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $64.42.

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of Doximity from $63.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday, May 27th. Mizuho reduced their price objective on shares of Doximity from $65.00 to $60.00 and set a "neutral" rating for the company in a research note on Friday, May 16th. Evercore ISI raised shares of Doximity from an "in-line" rating to an "outperform" rating and boosted their price objective for the stock from $50.00 to $70.00 in a research note on Wednesday, July 9th. William Blair reissued an "outperform" rating on shares of Doximity in a research note on Friday, May 16th. Finally, BTIG Research raised shares of Doximity from a "neutral" rating to a "buy" rating and set a $80.00 price objective for the company in a research note on Monday, June 2nd.

Doximity Stock Up 2.1%

NASDAQ:DOCS opened at $61.47 on Tuesday. The business's 50-day simple moving average is $57.24 and its two-hundred day simple moving average is $59.22. The stock has a market cap of $11.54 billion, a PE ratio of 61.47, a P/E/G ratio of 4.10 and a beta of 1.37. Doximity has a 52 week low of $25.00 and a 52 week 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%. The company's revenue for the quarter was up 17.1% on a year-over-year basis. During the same period last year, the company earned $0.25 earnings per share. Sell-side analysts anticipate that Doximity will post 0.99 earnings per share for the current fiscal year.

Insider Activity

In other 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 transaction of $105,780.00. Following the transaction, the director directly owned 16,618 shares in the company, valued at $878,926.02. The trade was a 10.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Regina M. Benjamin sold 5,000 shares of the business's stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $60.04, for a total transaction of $300,200.00. Following the transaction, the director owned 16,618 shares in the company, valued at approximately $997,744.72. This trade represents a 23.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,000 shares of company stock valued at $4,400,970 over the last quarter. Company insiders own 37.40% of the company's stock.

Institutional Trading of Doximity

Several institutional investors and hedge funds have recently modified their holdings of the business. VSM Wealth Advisory LLC acquired a new position in Doximity during the 1st quarter valued at about $29,000. Allworth Financial LP grew its stake 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 purchasing 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. Spire Wealth Management grew its stake 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 purchasing an additional 260 shares during the last quarter. Finally, Optimum Investment Advisors acquired a new position in shares of Doximity in the 4th quarter worth approximately $43,000. Hedge funds and other institutional investors 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.

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