Doximity's (DOCS) Underweight Rating Reiterated at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has reiterated its "underweight" rating for Doximity (DOCS), setting a price target of $62.00, which indicates a potential downside of 14.48% from the stock's previous close.
• Analysts have mixed views on Doximity; with Evercore ISI increasing its price target to $81.00 and giving it an "outperform" rating, while Zacks Research downgraded it from "strong-buy" to "hold".
• The stock is currently trading down 1.4%, following a period of notable insider selling, with executives reducing their holdings significantly in the last three months.

Doximity (NASDAQ:DOCS - Get Free Report)'s stock had its "underweight" rating restated by equities researchers at JPMorgan Chase & Co. in a research note issued on Friday,Benzinga reports. They currently have a $62.00 price objective on the stock. JPMorgan Chase & Co.'s price objective would suggest a potential downside of 14.48% from the stock's previous close.

Other equities research analysts have also issued research reports about the company. Evercore ISI upped their price objective on Doximity from $75.00 to $81.00 and gave the stock an "outperform" rating in a research report on Wednesday. Needham & Company LLC upped their price objective on Doximity from $67.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Piper Sandler upped their price objective on Doximity from $65.00 to $69.00 and gave the stock an "overweight" rating in a research report on Monday, August 11th. Bank of America upped their price objective on Doximity from $55.00 to $62.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 25th. Finally, Zacks Research lowered Doximity from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $69.37.

Doximity Trading Down 1.4%

DOCS opened at $72.50 on Friday. Doximity has a 12-month low of $40.87 and a 12-month high of $85.21. The firm has a 50 day moving average of $68.29 and a two-hundred day moving average of $60.96. The firm has a market capitalization of $13.58 billion, a PE ratio of 72.50, a P/E/G ratio of 4.10 and a beta of 1.38.

Doximity (NASDAQ:DOCS - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.36 EPS for the quarter, beating 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%. During the same quarter in the previous year, the business posted $0.28 earnings per share. The business's revenue for the quarter was up 15.2% on a year-over-year basis. Doximity has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. As a group, analysts predict that Doximity will post 0.99 EPS for the current fiscal year.

Insider Transactions at Doximity

In other news, Director Regina M. Benjamin sold 5,000 shares of the company's stock in a transaction that occurred on 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 transaction, the director directly owned 19,839 shares of the company's stock, valued at $1,398,649.50. This represents a 20.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Kira Scherer Wampler sold 2,000 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $57.09, for a total value of $114,180.00. Following the completion of the transaction, the director directly owned 16,618 shares of the company's stock, valued at approximately $948,721.62. This represents a 10.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,000 shares of company stock valued at $2,281,680 in the last three months. 31.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Doximity by 8.8% in the 1st quarter. Vanguard Group Inc. now owns 12,194,492 shares of the company's stock valued at $707,646,000 after purchasing an additional 990,923 shares during the last quarter. William Blair Investment Management LLC raised its stake in Doximity by 13.8% in the 2nd quarter. William Blair Investment Management LLC now owns 5,219,394 shares of the company's stock valued at $320,158,000 after purchasing an additional 634,927 shares during the last quarter. Geode Capital Management LLC grew its holdings in Doximity by 7.7% in the 2nd quarter. Geode Capital Management LLC now owns 3,639,898 shares of the company's stock valued at $223,829,000 after buying an additional 261,319 shares in the last quarter. Franklin Resources Inc. grew its holdings in Doximity by 53.9% in the 2nd quarter. Franklin Resources Inc. now owns 3,162,593 shares of the company's stock valued at $193,993,000 after buying an additional 1,108,162 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Doximity by 54.8% in the 1st quarter. Invesco Ltd. now owns 1,969,326 shares of the company's stock valued at $114,280,000 after buying an additional 696,923 shares in the last quarter. 87.19% of the stock is owned by institutional investors and hedge funds.

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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