Doximity (NASDAQ:DOCS) Receives Sell Rating from The Goldman Sachs Group

Key Points

• Doximity's stock has been downgraded by The Goldman Sachs Group from a "hold" to a "strong sell" rating, indicating negative sentiment from analysts.
• Despite the downgrade, Doximity has seen a range of price target upgrades from firms like KeyCorp and Evercore ISI, suggesting mixed opinions in the market.
• Insider trading activity has increased, with significant share sales by directors, indicating potential shifts in confidence among company executives.

Doximity (NASDAQ:DOCS - Get Free Report)'s stock had its "sell" rating reiterated by stock analysts at The Goldman Sachs Group in a research report issued on Wednesday, Marketbeat Ratings reports. They currently have a $64.00 target price on the stock, up from their previous target price of $57.00. The Goldman Sachs Group's target price points to a potential downside of 9.44% from the stock's previous close.

A number of other equities analysts have also recently weighed in on the stock. Bank of America increased their price objective on shares of Doximity from $55.00 to $62.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 25th. Canaccord Genuity Group raised their price target on Doximity from $59.00 to $67.00 and gave the stock a "hold" rating in a research report on Thursday, September 18th. Needham & Company LLC raised their price target on Doximity from $67.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Zacks Research cut Doximity from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 20th. Finally, Wells Fargo & Company raised their target price on Doximity from $55.00 to $62.00 and gave the company an "equal weight" rating in a report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $68.16.

Doximity Trading Down 3.4%

NASDAQ DOCS opened at $70.67 on Wednesday. The stock has a market cap of $13.24 billion, a PE ratio of 70.67, a P/E/G ratio of 4.10 and a beta of 1.37. Doximity has a twelve month low of $40.87 and a twelve month high of $85.21. The stock has a fifty day simple moving average of $66.77 and a 200-day simple moving average of $60.57.

Doximity (NASDAQ:DOCS - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.05. Doximity had a net margin of 36.60% and a return on equity of 21.75%. The company's revenue was up 15.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.28 earnings per share. Doximity has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. Research analysts predict that Doximity will post 0.99 EPS for the current year.

Insiders Place Their Bets

In other Doximity news, Director Regina M. Benjamin sold 5,000 shares of Doximity stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $70.50, for a total transaction of $352,500.00. Following the completion of the sale, the director directly owned 19,839 shares of the company's stock, valued at $1,398,649.50. The trade was a 20.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kira Scherer Wampler sold 2,000 shares of Doximity stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $57.09, for a total value of $114,180.00. Following the sale, the director directly owned 16,618 shares of the company's stock, valued at $948,721.62. This trade represents a 10.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,000 shares of company stock valued at $2,581,880 in the last ninety days. Insiders own 31.30% of the company's stock.

Institutional Trading of Doximity

Institutional investors have recently modified their holdings of the stock. Hantz Financial Services Inc. lifted its position in shares of Doximity by 148.9% during the 2nd quarter. Hantz Financial Services Inc. now owns 453 shares of the company's stock worth $28,000 after buying an additional 271 shares during the last quarter. VSM Wealth Advisory LLC purchased a new stake in Doximity in the first quarter valued at $29,000. Allworth Financial LP lifted its position in Doximity by 104.0% in the first quarter. Allworth Financial LP now owns 563 shares of the company's stock valued at $32,000 after acquiring an additional 287 shares during the last quarter. National Bank of Canada FI purchased a new stake in Doximity in the first quarter valued at $33,000. Finally, Spire Wealth Management lifted its position in Doximity by 73.2% in the first quarter. Spire Wealth Management now owns 615 shares of the company's stock valued at $36,000 after acquiring an additional 260 shares during the last quarter. 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.