Doximity (NASDAQ:DOCS) Stock Price Down 5% - Should You Sell?

Key Points

• Doximity's stock price fell by 5%, closing at $68.94, with significantly reduced trading volume compared to its average.
• Analysts have provided mixed ratings for Doximity, with price targets ranging from $62.00 to $80.00, indicating varied confidence in the stock's performance.
• Insider transactions revealed significant share sales, with directors reducing their ownership stakes, raising potential concerns for investors about confidence in the company's future.

Doximity, Inc. (NASDAQ:DOCS - Get Free Report)'s share price fell 5% during trading on Friday . The stock traded as low as $68.27 and last traded at $68.94. 416,044 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 2,135,669 shares. The stock had previously closed at $72.57.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Robert W. Baird upped their target price on Doximity from $75.00 to $80.00 and gave the company an "outperform" rating in a report on Thursday, September 11th. Bank of America upped their target price on Doximity from $55.00 to $62.00 and gave the company a "neutral" rating in a report on Wednesday, June 25th. Wells Fargo & Company upped 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. JPMorgan Chase & Co. reissued an "underweight" rating and set a $62.00 price objective on shares of Doximity in a report on Friday. Finally, Piper Sandler increased their price objective on Doximity from $65.00 to $69.00 and gave the company an "overweight" rating in a report on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $69.37.

Doximity Price Performance

The stock has a fifty day moving average price of $68.29 and a 200 day moving average price of $60.96. The stock has a market capitalization of $12.67 billion, a P/E ratio of 67.33, a price-to-earnings-growth ratio of 4.10 and a beta of 1.38.

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

Insider Transactions at Doximity

In related news, Director Kira Scherer Wampler sold 2,000 shares of the stock in a transaction on 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 owned 16,618 shares in the company, valued at approximately $948,721.62. This trade represents a 10.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Timothy S. Cabral sold 20,000 shares of the stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $75.00, for a total value of $1,500,000.00. Following the completion of the sale, the director owned 3,221 shares in the company, valued at $241,575. This trade represents a 86.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,000 shares of company stock valued at $2,281,680 over the last three months. Company insiders own 31.30% of the company's stock.

Institutional Investors Weigh In On Doximity

A number of institutional investors and hedge funds have recently made changes to their positions in DOCS. Voya Investment Management LLC raised its position in shares of Doximity by 932.8% in the third quarter. Voya Investment Management LLC now owns 1,567,668 shares of the company's stock worth $114,267,000 after buying an additional 1,415,882 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Doximity by 130.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,966,801 shares of the company's stock worth $114,133,000 after buying an additional 1,113,076 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Doximity by 53.9% in the second quarter. Franklin Resources Inc. now owns 3,162,593 shares of the company's stock worth $193,993,000 after buying an additional 1,108,162 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Doximity by 8.8% in the first quarter. Vanguard Group Inc. now owns 12,194,492 shares of the company's stock worth $707,646,000 after buying an additional 990,923 shares in the last quarter. Finally, Holocene Advisors LP purchased a new stake in Doximity during the second quarter valued at about $44,983,000. Hedge funds and other institutional investors own 87.19% of the company's stock.

Doximity Company Profile

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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