Doximity (NASDAQ:DOCS) Announces Earnings Results

Key Points

• Doximity reported a quarterly earnings per share of $0.36, exceeding analysts' estimates of $0.31, with a year-over-year revenue increase of 15.2%.
• The company’s stock experienced significant trading activity, closing at $66.71 after an increase of $8.16 during Friday’s trading.
• Analysts have given Doximity a consensus rating of "Moderate Buy" with an average target price of $66.68, reflecting mixed assessments from various research firms.

Doximity (NASDAQ:DOCS - Get Free Report) released its quarterly earnings results on Thursday. The company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.05, Briefing.com reports. Doximity had a return on equity of 21.75% and a net margin of 36.60%. During the same quarter in the prior year, the company posted $0.28 earnings per share. The company's revenue was up 15.2% on a year-over-year basis. Doximity updated its FY 2026 guidance to EPS and its Q2 2026 guidance to EPS.

Doximity Price Performance

NASDAQ:DOCS traded up $8.16 during trading hours on Friday, hitting $66.71. The company's stock had a trading volume of 5,181,393 shares, compared to its average volume of 2,367,801. The stock has a fifty day simple moving average of $59.21 and a 200-day simple moving average of $60.00. The company has a market capitalization of $12.53 billion, a P/E ratio of 66.71, a PEG ratio of 4.10 and a beta of 1.36. Doximity has a twelve month low of $32.58 and a twelve month high of $85.21.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DOCS. Mizuho reduced their price target on Doximity from $65.00 to $60.00 and set a "neutral" rating for the company in a research report on Friday, May 16th. Raymond James Financial increased their price objective on Doximity from $65.00 to $75.00 and gave the company an "outperform" rating in a report on Friday. Wells Fargo & Company increased their price objective on Doximity from $55.00 to $62.00 and gave the company an "equal weight" rating in a report on Monday, August 4th. The Goldman Sachs Group set a $50.00 price objective on Doximity and gave the company a "neutral" rating in a report on Wednesday, May 21st. Finally, Robert W. Baird cut their price objective on Doximity from $87.00 to $65.00 and set an "outperform" rating for the company in a report on Tuesday, May 20th. Ten investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $66.68.

Insider Activity at Doximity

In other news, Director Regina M. Benjamin sold 5,000 shares of Doximity 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 sale, the director directly owned 16,618 shares of the company's stock, valued at approximately $997,744.72. This trade represents a 23.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Timothy S. Cabral sold 10,000 shares of Doximity stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $60.00, for a total value of $600,000.00. Following the sale, the director directly owned 6,360 shares in the company, valued at $381,600. The trade was a 61.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,000 shares of company stock valued at $1,825,940 over the last ninety days. 31.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Doximity

Hedge funds and other institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Doximity by 0.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,978 shares of the company's stock valued at $2,262,000 after buying an additional 210 shares during the period. Focus Partners Wealth acquired a new position in Doximity in the first quarter valued at approximately $283,000. NewEdge Advisors LLC lifted its stake in Doximity by 613.7% in the first quarter. NewEdge Advisors LLC now owns 6,323 shares of the company's stock valued at $367,000 after buying an additional 5,437 shares during the period. Royal Bank of Canada lifted its stake in Doximity by 24.2% in the first quarter. Royal Bank of Canada now owns 106,845 shares of the company's stock valued at $6,200,000 after buying an additional 20,847 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in Doximity by 33.3% in the first quarter. Goldman Sachs Group Inc. now owns 255,529 shares of the company's stock valued at $14,828,000 after buying an additional 63,873 shares during the period. 87.19% of the stock is owned by institutional investors and hedge funds.

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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