Doximity's (DOCS) Overweight Rating Reiterated at Piper Sandler

Key Points

• Piper Sandler reiterated its Overweight rating on Doximity and raised its price target from $42 to $47, implying 65.89% upside from the reported share price.
• Doximity shares surged 37.1% to $28.33 on heavy trading volume following quarterly results that beat consensus EPS estimates and showed 7.3% year-over-year revenue growth.
• Analyst sentiment remains mixed, with a consensus Hold rating and $31.19 price target, while investors are increasingly focused on the company’s clinical AI product and future monetization potential.

Doximity (NYSE:DOCS - Get Free Report)'s stock had its "overweight" rating reissued by Piper Sandler in a research note issued to investors on Friday,Benzinga reports. They presently have a $47.00 price objective on the stock, up from their previous price objective of $42.00. Piper Sandler's price objective indicates a potential upside of 65.89% from the stock's current price.

Several other equities analysts also recently commented on DOCS. Leerink Partners dropped their price objective on shares of Doximity from $31.00 to $25.00 and set an "outperform" rating for the company in a research note on Thursday, May 14th. BMO Capital Markets reiterated a "market perform" rating and issued a $30.00 price target on shares of Doximity in a research note on Friday. Wells Fargo & Company reissued an "equal weight" rating and set a $18.00 price objective (down from $32.00) on shares of Doximity in a report on Thursday, May 14th. The Goldman Sachs Group reduced their price objective on Doximity from $28.00 to $24.00 and set a "neutral" rating on the stock in a research report on Thursday, May 14th. Finally, JPMorgan Chase & Co. increased their target price on Doximity from $26.00 to $31.00 and gave the company a "neutral" rating in a research report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $31.19.

Doximity Trading Up 37.1%

Doximity stock traded up $7.67 during midday trading on Friday, reaching $28.33. The company's stock had a trading volume of 39,370,051 shares, compared to its average volume of 4,013,574. The stock has a market cap of $5.18 billion, a PE ratio of 28.46, a price-to-earnings-growth ratio of 7.85 and a beta of 1.29. Doximity has a 52 week low of $17.15 and a 52 week high of $76.51. The business has a 50-day moving average price of $21.16 and a 200-day moving average price of $24.35.

Doximity (NYSE:DOCS - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.29 EPS for the quarter, topping analysts' consensus estimates of $0.16 by $0.13. Doximity had a net margin of 30.40% and a return on equity of 20.40%. The firm had revenue of $156.62 million during the quarter. During the same period last year, the company posted $0.36 EPS. The firm's revenue was up 7.3% compared to the same quarter last year. As a group, research analysts predict that Doximity will post 0.87 EPS for the current fiscal year.

Insider Transactions at Doximity

In other Doximity news, insider Siddharth Sitaram sold 2,444 shares of Doximity stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $20.41, for a total transaction of $49,882.04. Following the transaction, the insider directly owned 90,706 shares of the company's stock, valued at approximately $1,851,309.46. The trade was a 2.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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. 31.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Doximity

Several institutional investors and hedge funds have recently made changes to their positions in DOCS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Doximity by 0.5% during the 1st 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 last quarter. BOKF NA raised its stake in shares of Doximity by 5.3% during the third quarter. BOKF NA now owns 5,356 shares of the company's stock valued at $392,000 after acquiring an additional 269 shares during the last quarter. Northwestern Mutual Investment Management Company LLC boosted its holdings in shares of Doximity by 1.1% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 30,736 shares of the company's stock worth $1,361,000 after purchasing an additional 333 shares during the period. Lifestyle Asset Management Inc. boosted its holdings in shares of Doximity by 5.9% during the fourth quarter. Lifestyle Asset Management Inc. now owns 7,083 shares of the company's stock worth $314,000 after purchasing an additional 396 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Doximity by 99.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 796 shares of the company's stock worth $35,000 after purchasing an additional 397 shares during the last quarter. Institutional investors and hedge funds own 87.19% of the company's stock.

Doximity News Roundup

Here are the key news stories impacting Doximity this week:

• Positive Sentiment: Revenue beat and stronger full-year outlook: Doximity reported quarterly revenue of $156.6 million, up 7.3% year over year, and raised fiscal 2027 revenue guidance to $671 million–$681 million, slightly above Wall Street’s prior estimate. Doximity Shares Soar After Revenue Beat and Higher Full-Year Forecast
• Positive Sentiment: AI is the main catalyst: Management said its clinical AI search product generated approximately 10 times the revenue required to operate it, while the CEO said the company’s clinical AI performance exceeded Anthropic in internal comparisons. Investors view AI-driven engagement and future monetization as potential upside not fully reflected in current guidance. Shares of this digital medical platform were up more than 100% at one point
• Positive Sentiment: Analyst sentiment improved: Analysts raised price targets and became more constructive on Doximity’s growth prospects following the results and AI commentary, adding momentum to the stock. DOCS stock soars after CEO says clinical AI outperformed Anthropic
• Neutral Sentiment: Trading volatility was extreme: Multiple limit-up/limit-down pauses were reported as trading volume surged, indicating unusually high speculative activity and heightened short-term volatility. LinkedIn for Doctors Stock Nearly Doubles After Earnings
• Negative Sentiment: Earnings were mixed: Adjusted EPS of $0.29 exceeded some published consensus estimates but fell short of the $0.30 Zacks estimate and declined from $0.36 a year earlier. Second-quarter revenue guidance of $170 million–$171 million was also marginally below the consensus estimate of $171.1 million. Doximity Q1 Earnings Lag Estimates

About Doximity

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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