Doximity, Inc. (NASDAQ:DOCS) Receives $61.22 Consensus Target Price from Brokerages

Doximity, Inc. (NASDAQ:DOCS - Get Free Report) has earned an average rating of "Moderate Buy" from the twenty-one analysts that are covering the stock, MarketBeat reports. Eleven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $61.89.

DOCS has been the topic of a number of research analyst reports. Needham & Company LLC reduced their target price on Doximity from $82.00 to $67.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Raymond James reduced their target price on Doximity from $83.00 to $65.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Wells Fargo & Company reissued an "equal weight" rating on shares of Doximity in a research note on Friday, February 7th. KeyCorp reduced their target price on Doximity from $83.00 to $70.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, Truist Financial reduced their target price on Doximity from $58.00 to $52.00 and set a "hold" rating on the stock in a research note on Friday, May 16th.

Insider Activity

In related news, CFO Anna Bryson sold 45,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 357,165 shares in the company, valued at $20,440,552.95. The trade was a 11.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $113,860.00. Following the completion of the sale, the director now directly owns 16,618 shares of the company's stock, valued at approximately $946,062.74. This trade represents a 10.74% decrease in their position. The disclosure for this sale can be found here. Company insiders own 37.40% of the company's stock.

Institutional Investors Weigh In On Doximity

Hedge funds have recently modified their holdings of the business. Focus Partners Wealth bought a new stake in shares of Doximity during the 1st quarter valued at $283,000. Plato Investment Management Ltd boosted its holdings in shares of Doximity by 48.0% during the 1st quarter. Plato Investment Management Ltd now owns 5,731 shares of the company's stock valued at $336,000 after purchasing an additional 1,860 shares during the last quarter. Bayforest Capital Ltd boosted its holdings in shares of Doximity by 162.1% during the 1st quarter. Bayforest Capital Ltd now owns 10,614 shares of the company's stock valued at $616,000 after purchasing an additional 6,565 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Doximity by 130.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,966,801 shares of the company's stock valued at $114,133,000 after acquiring an additional 1,113,076 shares during the last quarter. Finally, Empowered Funds LLC lifted its holdings in shares of Doximity by 118.8% in the 1st quarter. Empowered Funds LLC now owns 123,304 shares of the company's stock valued at $7,155,000 after acquiring an additional 66,947 shares during the last quarter. Institutional investors own 87.19% of the company's stock.

Doximity Stock Up 2.0%

Shares of DOCS stock traded up $1.04 on Monday, reaching $52.06. The company's stock had a trading volume of 1,515,322 shares, compared to its average volume of 2,096,359. Doximity has a 12-month low of $25.00 and a 12-month high of $85.21. The company has a market capitalization of $9.72 billion, a P/E ratio of 52.06, a PEG ratio of 4.10 and a beta of 1.41. The stock's 50 day simple moving average is $56.12 and its 200-day simple moving average is $58.23.

Doximity (NASDAQ:DOCS - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 in the prior year, the firm earned $0.25 EPS. The firm's revenue for the quarter was up 17.1% on a year-over-year basis. Research analysts expect that Doximity will post 0.99 EPS for the current year.

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.