Zacks Research Downgrades Doximity (NASDAQ:DOCS) to Hold

Key Points

• Zacks Research downgraded Doximity from a "strong-buy" rating to a "hold" rating, reflecting a shift in market outlook for the stock.
• The stock currently has a consensus rating of "Moderate Buy" from analysts, with an average target price of $66.21.
• Insiders have recently sold a notable amount of shares; for example, Director Kira Scherer Wampler sold 2,000 shares, indicating potential concerns about the company's future performance.

Doximity (NASDAQ:DOCS - Get Free Report) was downgraded by investment analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a note issued to investors on Wednesday,Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. Bank of America lifted their price objective on shares of Doximity from $55.00 to $62.00 and gave the company a "neutral" rating in a report on Wednesday, June 25th. Evercore ISI upgraded Doximity from an "in-line" rating to an "outperform" rating and lifted their price target for the company from $50.00 to $70.00 in a research note on Wednesday, July 9th. Needham & Company LLC upped their price target on Doximity from $67.00 to $75.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Morgan Stanley dropped their price objective on Doximity from $71.00 to $60.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Finally, Mizuho cut their price objective on Doximity from $65.00 to $60.00 and set a "neutral" rating for the company in a research report on Friday, May 16th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat, Doximity presently has a consensus rating of "Moderate Buy" and an average target price of $66.21.

Doximity Trading Down 0.4%

Shares of DOCS stock opened at $64.0770 on Wednesday. Doximity has a twelve month low of $35.32 and a twelve month high of $85.21. The stock has a market cap of $12.00 billion, a P/E ratio of 64.08, a P/E/G ratio of 4.10 and a beta of 1.36. The stock has a 50 day moving average of $60.56 and a 200 day moving average of $60.40.

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

Insider Activity at Doximity

In other Doximity news, Director Kira Scherer Wampler sold 2,000 shares of the firm's stock in a transaction 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. This trade represents a 10.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Timothy S. Cabral sold 10,000 shares of Doximity stock in a transaction 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 sale, the director directly owned 6,360 shares in the company, valued at approximately $381,600. This trade represents a 61.12% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,000 shares of company stock valued at $2,140,940. 31.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DOCS. Hantz Financial Services Inc. grew its position in shares of Doximity by 148.9% in the second quarter. Hantz Financial Services Inc. now owns 453 shares of the company's stock valued at $28,000 after purchasing an additional 271 shares in the last quarter. VSM Wealth Advisory LLC purchased a new position in Doximity during the first quarter worth approximately $29,000. Allworth Financial LP boosted its stake in Doximity by 104.0% during the first quarter. Allworth Financial LP now owns 563 shares of the company's stock worth $32,000 after buying an additional 287 shares during the last quarter. National Bank of Canada FI purchased a new stake in Doximity in the 1st quarter valued at $33,000. Finally, Spire Wealth Management grew its holdings in Doximity by 73.2% in the 1st quarter. Spire Wealth Management now owns 615 shares of the company's stock valued at $36,000 after buying an additional 260 shares in the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.