JPMorgan Chase & Co. Increases Doximity (NYSE:DOCS) Price Target to $31.00

Key Points

• JPMorgan raised Doximity’s price target from $26 to $31 while maintaining a neutral rating, implying approximately 9.4% upside. The broader analyst consensus is also “Hold,” with an average target of $31.19.
• Doximity reported quarterly revenue of $156.6 million, up 7.3% year over year, and earnings per share of $0.29, beating the consensus estimate cited in the article. Management also highlighted strong potential from its clinical AI product and raised its full-year revenue outlook.
• Doximity shares surged $7.67 to $28.33 in Friday trading on volume far above average, reflecting heightened investor interest and volatility. Institutional investors own 87.19% of the company, while insiders hold 31.80%.

Doximity (NYSE:DOCS - Get Free Report) had its price target increased by investment analysts at JPMorgan Chase & Co. from $26.00 to $31.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 9.42% from the company's current price.

A number of other equities analysts also recently commented on the company. Zacks Research raised Doximity from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. Bank of America reiterated an "underperform" rating and set a $20.00 price objective (down from $38.00) on shares of Doximity in a research note on Monday, June 29th. Canaccord Genuity Group set a $36.00 price objective on shares of Doximity in a research report on Friday. Needham & Company LLC reissued a "buy" rating on shares of Doximity in a research note on Friday. Finally, Robert W. Baird restated a "neutral" rating and set a $18.00 target price (down from $40.00) on shares of Doximity in a report on Thursday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Doximity currently has an average rating of "Hold" and a consensus price target of $31.19.

Doximity Stock Performance

Shares of DOCS traded up $7.67 during trading hours on Friday, hitting $28.33. The stock had a trading volume of 39,370,051 shares, compared to its average volume of 4,013,574. The firm has a market cap of $5.18 billion, a P/E ratio of 28.46, a P/E/G ratio of 7.85 and a beta of 1.29. The company's fifty day simple moving average is $21.16 and its 200 day simple moving average is $24.35. Doximity has a 12-month low of $17.15 and a 12-month high of $76.51.

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

Insiders Place Their Bets

In related news, insider Siddharth Sitaram sold 2,444 shares of the firm's stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $20.41, for a total value of $49,882.04. Following the sale, the insider owned 90,706 shares of the company's stock, valued at approximately $1,851,309.46. This trade represents a 2.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 company insiders.

Institutional Investors Weigh In On Doximity

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Doximity by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 13,285,485 shares of the company's stock valued at $588,281,000 after buying an additional 518,916 shares in the last quarter. UBS Group AG raised its stake in Doximity by 26.5% during the fourth quarter. UBS Group AG now owns 680,260 shares of the company's stock worth $30,122,000 after acquiring an additional 142,408 shares in the last quarter. Carmignac Gestion lifted its holdings in shares of Doximity by 127.8% during the first quarter. Carmignac Gestion now owns 4,311,997 shares of the company's stock valued at $100,480,000 after acquiring an additional 2,418,971 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Doximity by 325,436.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,298,891 shares of the company's stock valued at $57,515,000 after acquiring an additional 1,298,492 shares during the period. Finally, Rhenman & Partners Asset Management AB boosted its stake in shares of Doximity by 174.1% in the 4th quarter. Rhenman & Partners Asset Management AB now owns 372,750 shares of the company's stock valued at $16,505,000 after purchasing an additional 236,750 shares in the last quarter. Institutional investors and hedge funds own 87.19% of the company's stock.

Key Doximity News

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

Doximity Company Profile

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.

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