Doximity (NASDAQ:DOCS) Trading 4.4% Higher - Still a Buy?

Doximity, Inc. (NASDAQ:DOCS - Get Free Report) shot up 4.4% on Tuesday . The stock traded as high as $57.78 and last traded at $58.41. 688,406 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 2,133,109 shares. The stock had previously closed at $55.96.

Analyst Ratings Changes

DOCS has been the topic of several recent analyst reports. Mizuho decreased their price target on Doximity from $65.00 to $60.00 and set a "neutral" rating on the stock in a research note on Friday, May 16th. The Goldman Sachs Group set a $50.00 price target on Doximity and gave the company a "neutral" rating in a research note on Wednesday, May 21st. Robert W. Baird decreased their price target on Doximity from $87.00 to $65.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 20th. BTIG Research upgraded Doximity from a "neutral" rating to a "buy" rating and set a $80.00 price target on the stock in a research note on Monday, June 2nd. Finally, William Blair reiterated an "outperform" rating on shares of Doximity in a research note on Friday, May 16th. Eleven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Doximity presently has an average rating of "Moderate Buy" and a consensus price target of $62.84.

Doximity Stock Performance

The stock has a market capitalization of $10.80 billion, a price-to-earnings ratio of 57.47, a P/E/G ratio of 4.10 and a beta of 1.32. The company has a fifty day simple moving average of $55.53 and a 200 day simple moving average of $58.56.

Doximity (NASDAQ:DOCS - Get Free Report) last announced its earnings results on Thursday, May 15th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.27 by $0.11. Doximity had a return on equity of 21.75% and a net margin of 36.60%. Doximity's revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.25 EPS. As a group, equities analysts predict that Doximity, Inc. will post 0.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Anna Bryson sold 45,000 shares of Doximity stock in a transaction dated Thursday, May 1st. The stock was 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 of the company's stock, valued at approximately $20,440,552.95. This trade represents a 11.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kira Scherer Wampler sold 2,000 shares of Doximity stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $52.89, for a total value of $105,780.00. Following the completion of the transaction, the director now directly owns 16,618 shares of the company's stock, valued at approximately $878,926.02. This trade represents a 10.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,000 shares of company stock valued at $2,900,770. 37.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in DOCS. Global Retirement Partners LLC raised its position in shares of Doximity by 468.1% in the 4th quarter. Global Retirement Partners LLC now owns 534 shares of the company's stock worth $29,000 after acquiring an additional 440 shares in the last quarter. VSM Wealth Advisory LLC bought a new position in shares of Doximity in the 1st quarter worth about $29,000. Allworth Financial LP raised its position in shares of Doximity by 104.0% in the 1st quarter. Allworth Financial LP now owns 563 shares of the company's stock worth $32,000 after acquiring an additional 287 shares in the last quarter. National Bank of Canada FI bought a new position in shares of Doximity in the 1st quarter worth about $33,000. Finally, Spire Wealth Management raised its position in shares of Doximity by 73.2% in the 1st quarter. Spire Wealth Management now owns 615 shares of the company's stock worth $36,000 after acquiring an additional 260 shares in the last quarter. 87.19% of the stock is owned by institutional investors.

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.