Robert W. Baird Issues Positive Forecast for Doximity (NASDAQ:DOCS) Stock Price

Key Points

• Robert W. Baird has raised its price target for Doximity (NASDAQ:DOCS) from $75.00 to $80.00, reflecting a potential upside of 15.93% from the stock's previous close.
• Doximity reported earnings of $0.36 EPS for the last quarter, surpassing estimates and demonstrating a 15.2% revenue increase compared to the same period last year.
• Insider trading activity includes Director Regina M. Benjamin selling 5,000 shares for $315,000, decreasing her ownership in the company by 23.13%.

Doximity (NASDAQ:DOCS - Get Free Report) had its price target hoisted by analysts at Robert W. Baird from $75.00 to $80.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Robert W. Baird's price objective suggests a potential upside of 11.03% from the stock's current price.

Other equities analysts have also issued reports about the company. Piper Sandler lifted their price objective on Doximity from $65.00 to $69.00 and gave the stock an "overweight" rating in a research note on Monday, August 11th. Wells Fargo & Company upped their price target on Doximity from $55.00 to $62.00 and gave the stock an "equal weight" rating in a report on Monday, August 4th. Evercore ISI upgraded Doximity from an "in-line" rating to an "outperform" rating and upped their price target for the stock from $50.00 to $70.00 in a report on Wednesday, July 9th. Zacks Research downgraded Doximity from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 20th. Finally, The Goldman Sachs Group set a $50.00 price target on Doximity and gave the company a "neutral" rating in a research report on Wednesday, May 21st. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, Doximity currently has a consensus rating of "Moderate Buy" and a consensus target price of $67.00.

Doximity Stock Performance

Shares of NASDAQ:DOCS traded down $0.42 during midday trading on Thursday, hitting $72.05. 490,649 shares of the stock were exchanged, compared to its average volume of 2,211,006. The stock has a market capitalization of $13.50 billion, a price-to-earnings ratio of 71.96, a P/E/G ratio of 4.10 and a beta of 1.37. The business's 50-day moving average price is $63.84 and its 200 day moving average price is $59.78. Doximity has a 12 month low of $39.62 and a 12 month high of $85.21.

Doximity (NASDAQ:DOCS - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.05. Doximity had a return on equity of 21.75% and a net margin of 36.60%.The business's revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.28 EPS. Doximity has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. As a group, sell-side analysts expect that Doximity will post 0.99 EPS for the current year.

Insider Buying and Selling

In related news, Director Regina M. Benjamin sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $60.00, for a total transaction of $600,000.00. Following the transaction, the director directly owned 16,618 shares in the company, valued at $997,080. This trade represents a 37.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kira Scherer Wampler sold 2,000 shares of the firm's stock in a transaction that occurred 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 transaction, the director owned 16,618 shares in the company, valued at approximately $948,721.62. The trade was a 10.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,000 shares of company stock worth $1,929,380 in the last ninety days. 31.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new stake in shares of Doximity during the 1st quarter valued at about $65,702,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Doximity by 130.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,966,801 shares of the company's stock valued at $114,133,000 after purchasing an additional 1,113,076 shares during the period. Franklin Resources Inc. boosted its position in shares of Doximity by 53.9% during the second quarter. Franklin Resources Inc. now owns 3,162,593 shares of the company's stock valued at $193,993,000 after purchasing an additional 1,108,162 shares in the last quarter. Vanguard Group Inc. grew its stake in 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 purchasing an additional 990,923 shares during the period. Finally, Holocene Advisors LP purchased a new stake in Doximity in the second quarter worth $44,983,000. 87.19% of the stock is owned by hedge funds and other 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.