Doximity, Inc. (NYSE:DOCS) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts have a consensus rating of Moderate Buy on Doximity from 22 analysts (1 sell, 6 hold, 13 buy, 2 strong buy) with an average 1‑year target of $41.26 versus the recent share price around $24.72.
• Doximity authorized a $500 million stock buyback program (up to ~8% of outstanding shares), indicating management views the shares as potentially undervalued.
• Insiders have recently sold 9,028 shares (about $225,641) in the last 90 days—including sales to cover tax withholding—though insiders still own 31.3% of the company.

Shares of Doximity, Inc. (NYSE:DOCS - Get Free Report) have received a consensus rating of "Moderate Buy" from the twenty-two analysts that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, thirteen have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $41.2632.

Several equities research analysts have recently issued reports on DOCS shares. JPMorgan Chase & Co. decreased their price objective on Doximity from $40.00 to $33.00 and set a "neutral" rating on the stock in a report on Friday, February 20th. Raymond James Financial restated a "strong-buy" rating on shares of Doximity in a report on Monday, December 29th. Morgan Stanley decreased their price objective on Doximity from $65.00 to $49.00 and set an "overweight" rating on the stock in a report on Friday, February 6th. Barclays decreased their price objective on Doximity from $63.00 to $38.00 and set an "overweight" rating on the stock in a report on Wednesday, February 11th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $44.00 price objective on shares of Doximity in a report on Monday, March 9th.

Insider Buying and Selling at Doximity

In related news, Director Kira Scherer Wampler sold 2,000 shares of Doximity stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $26.00, for a total value of $52,000.00. Following the transaction, the director owned 19,839 shares in the company, valued at approximately $515,814. This trade represents a 9.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Siddharth Sitaram sold 2,427 shares of Doximity stock in a transaction on Friday, April 10th. The shares were sold at an average price of $21.09, for a total value of $51,185.43. Following the completion of the transaction, the insider owned 86,705 shares in the company, valued at $1,828,608.45. The trade was a 2.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 9,028 shares of company stock worth $225,641 in the last 90 days. Insiders own 31.30% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Krilogy Financial LLC acquired a new position in Doximity in the first quarter valued at $281,000. SG Americas Securities LLC boosted its holdings in Doximity by 3,403.2% in the first quarter. SG Americas Securities LLC now owns 1,408,597 shares of the company's stock valued at $32,820,000 after acquiring an additional 1,368,388 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in Doximity by 76.5% in the fourth quarter. Hsbc Holdings PLC now owns 124,357 shares of the company's stock valued at $5,535,000 after acquiring an additional 53,888 shares during the last quarter. Rockefeller Capital Management L.P. boosted its holdings in Doximity by 264.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 3,014 shares of the company's stock valued at $133,000 after acquiring an additional 2,187 shares during the last quarter. Finally, Montanaro Asset Management Ltd boosted its holdings in Doximity by 28.0% in the fourth quarter. Montanaro Asset Management Ltd now owns 41,200 shares of the company's stock valued at $1,824,000 after acquiring an additional 9,000 shares during the last quarter. Institutional investors and hedge funds own 87.19% of the company's stock.

Doximity Trading Up 0.1%

Shares of NYSE:DOCS opened at $24.72 on Monday. The company's fifty day moving average is $24.40. The firm has a market cap of $4.57 billion, a PE ratio of 20.60, a PEG ratio of 1.77 and a beta of 1.42. Doximity has a one year low of $20.55 and a one year high of $76.51.

Doximity (NYSE:DOCS - Get Free Report) last announced its earnings results on Thursday, February 5th. The company reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.01. Doximity had a return on equity of 23.84% and a net margin of 37.54%.During the same quarter in the previous year, the firm posted $0.45 EPS. The company's revenue was up 9.8% compared to the same quarter last year.

Doximity announced that its board has initiated a stock repurchase program on Thursday, February 5th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to buy up to 8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Doximity Company Profile

Doximity, trading as DOCS, operates a digital professional network and communications platform designed primarily for clinicians. Headquartered in San Francisco, the company connects physicians, nurse practitioners, physician assistants and other healthcare professionals, providing tools that streamline clinical communication, telehealth delivery and access to specialty-specific medical information. Its platform is positioned as a professional hub where clinicians manage their workflows, stay current with medical news and collaborate securely with peers.

The company’s offerings include secure messaging and video telehealth capabilities that enable clinicians to consult with patients and colleagues while protecting patient information.

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