Doximity (NASDAQ:DOCS) Given a $50.00 Price Target by The Goldman Sachs Group Analysts

Doximity (NASDAQ:DOCS - Get Free Report) has been given a $50.00 price target by The Goldman Sachs Group in a report issued on Wednesday, Marketbeat Ratings reports. The brokerage currently has a "neutral" rating on the stock. The Goldman Sachs Group's price objective suggests a potential downside of 2.35% from the stock's current price.

Other research analysts also recently issued research reports about the company. Robert W. Baird decreased their price objective on Doximity from $87.00 to $65.00 and set an "outperform" rating on the stock in a report on Tuesday. Needham & Company LLC decreased their price objective on Doximity from $82.00 to $67.00 and set a "buy" rating on the stock in a report on Friday, May 16th. Wells Fargo & Company reissued an "equal weight" rating on shares of Doximity in a research note on Friday, February 7th. Leerink Partnrs raised Doximity from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 7th. Finally, KeyCorp dropped their price objective on Doximity from $83.00 to $70.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Eleven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $61.22.

Doximity Trading Up 0.9%

Shares of NASDAQ DOCS opened at $51.21 on Wednesday. The stock has a market cap of $9.56 billion, a price-to-earnings ratio of 51.21, a P/E/G ratio of 4.10 and a beta of 1.41. Doximity has a 1-year low of $25.00 and a 1-year high of $85.21. The stock's 50-day moving average is $56.56 and its 200 day moving average is $58.01.

Doximity (NASDAQ:DOCS - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.11. Doximity had a net margin of 36.60% and a return on equity of 21.75%. During the same period in the previous year, the business posted $0.25 earnings per share. The firm's quarterly revenue was up 17.1% compared to the same quarter last year. On average, analysts forecast that Doximity will post 0.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other Doximity news, CFO Anna Bryson sold 45,000 shares of the company's stock in a transaction on Thursday, May 1st. The shares were 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 in the company, valued at approximately $20,440,552.95. This represents a 11.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kira Scherer Wampler sold 2,000 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $56.93, for a total transaction of $113,860.00. Following the completion of the sale, the director now owns 16,618 shares of the company's stock, valued at $946,062.74. This trade represents a 10.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 37.40% of the company's stock.

Institutional Trading of Doximity

Several institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC grew its stake in Doximity by 37.6% in the fourth quarter. FMR LLC now owns 9,409,313 shares of the company's stock worth $502,363,000 after purchasing an additional 2,571,580 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in Doximity by 708.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,510,416 shares of the company's stock worth $80,641,000 after purchasing an additional 1,323,634 shares during the period. SG Americas Securities LLC purchased a new position in 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 position in Doximity by 130.4% during 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 acquiring an additional 1,113,076 shares during the period. Finally, Invesco Ltd. lifted its position in Doximity by 525.1% during the 4th quarter. Invesco Ltd. now owns 1,272,403 shares of the company's stock valued at $67,934,000 after acquiring an additional 1,068,849 shares during the period. 87.19% of the stock is currently 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.