Doximity (NASDAQ:DOCS) PT Set at $50.00 by The Goldman Sachs Group

Doximity (NASDAQ:DOCS - Get Free Report) has been given a $50.00 price target by The Goldman Sachs Group in a report released on Wednesday, Marketbeat.com reports. The brokerage currently has a "neutral" rating on the stock. The Goldman Sachs Group's target price indicates a potential downside of 2.08% from the company's previous close.

Other equities research analysts also recently issued reports about the stock. Truist Financial lowered their price target on shares of Doximity from $58.00 to $52.00 and set a "hold" rating for the company in a report on Friday, May 16th. Raymond James lowered their target price on shares of Doximity from $83.00 to $65.00 and set an "outperform" rating for the company in a research note 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 report on Friday, February 7th. Finally, Piper Sandler upgraded Doximity from a "neutral" rating to an "overweight" rating and upped their target price for the company from $31.00 to $78.00 in a research note on Friday, February 7th. Eleven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $61.22.

Doximity Price Performance

Shares of NASDAQ DOCS traded down $0.20 on Wednesday, hitting $51.06. The company's stock had a trading volume of 1,430,504 shares, compared to its average volume of 2,098,689. The stock has a 50 day moving average of $56.36 and a 200-day moving average of $58.28. The company has a market capitalization of $9.53 billion, a price-to-earnings ratio of 51.06, a price-to-earnings-growth ratio of 4.10 and a beta of 1.41. Doximity has a 12-month low of $25.00 and a 12-month high of $85.21.

Doximity (NASDAQ:DOCS - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.11. Doximity had a return on equity of 21.75% and a net margin of 36.60%. Doximity's revenue was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.25 earnings per share. Sell-side analysts expect that Doximity will post 0.99 EPS for the current fiscal year.

Insider Buying and Selling at Doximity

In other news, CFO Anna Bryson sold 45,000 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $57.23, for a total transaction of $2,575,350.00. Following the completion of the sale, the chief financial officer now owns 357,165 shares of the company's stock, valued at $20,440,552.95. This represents a 11.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kira Scherer Wampler sold 2,000 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $56.93, for a total value of $113,860.00. Following the transaction, the director now owns 16,618 shares of the company's stock, valued at approximately $946,062.74. The trade was a 10.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 37.40% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of 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 buying an additional 990,923 shares during the last quarter. FMR LLC increased its holdings in Doximity by 37.6% during the fourth quarter. FMR LLC now owns 9,409,313 shares of the company's stock worth $502,363,000 after buying an additional 2,571,580 shares during the last quarter. Geode Capital Management LLC raised its position in Doximity by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 2,952,442 shares of the company's stock worth $157,668,000 after acquiring an additional 95,458 shares in the last quarter. Loomis Sayles & Co. L P lifted its stake in Doximity by 2.7% in the fourth quarter. Loomis Sayles & Co. L P now owns 2,334,597 shares of the company's stock valued at $124,644,000 after acquiring an additional 62,366 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Doximity by 54.8% in the first quarter. Invesco Ltd. now owns 1,969,326 shares of the company's stock valued at $114,280,000 after acquiring an additional 696,923 shares during the last quarter. 87.19% of the stock is currently owned by institutional investors.

About Doximity

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.