Doximity (NASDAQ:DOCS) Cut to "Hold" at Zacks Research

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, August 20th,Zacks.com reports.

Other analysts have also issued research reports about the company. JPMorgan Chase & Co. dropped their price objective on Doximity from $63.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday, May 27th. Bank of America upped their target price on Doximity from $55.00 to $62.00 and gave the company a "neutral" rating in a report on Wednesday, June 25th. The Goldman Sachs Group set a $50.00 target price on Doximity and gave the company a "neutral" rating in a report on Wednesday, May 21st. BTIG Research upgraded Doximity from a "neutral" rating to a "buy" rating and set a $80.00 target price for the company in a report on Monday, June 2nd. Finally, Mizuho decreased their price objective on Doximity from $65.00 to $60.00 and set a "neutral" rating for the company in a report on Friday, May 16th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $66.21.

Doximity Price Performance

Shares of DOCS traded up $1.26 during midday trading on Wednesday, hitting $68.34. 611,622 shares of the company traded hands, compared to its average volume of 2,296,284. Doximity has a one year low of $35.32 and a one year high of $85.21. The firm has a market cap of $12.80 billion, a P/E ratio of 68.37, a PEG ratio of 4.10 and a beta of 1.36. The stock has a 50-day moving average of $61.18 and a 200-day moving average of $60.45.

Doximity (NASDAQ:DOCS - Get Free Report) last issued 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 firm's revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.28 earnings per share. Doximity has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. Sell-side analysts forecast that Doximity will post 0.99 EPS for the current fiscal year.

Insider Transactions at Doximity

In other news, Director Kira Scherer Wampler sold 2,000 shares of Doximity stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $57.09, for a total transaction of $114,180.00. Following the sale, the director owned 16,618 shares in the company, valued at $948,721.62. This trade represents a 10.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Regina M. Benjamin sold 10,000 shares of Doximity stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $60.00, for a total value of $600,000.00. Following the completion of the sale, the director directly owned 16,618 shares in the company, valued at approximately $997,080. The trade was a 37.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,000 shares of company stock valued at $2,140,940 over the last quarter. 31.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Doximity

Hedge funds have recently made changes to their positions in the company. Hantz Financial Services Inc. raised its position in shares of Doximity by 148.9% in the 2nd quarter. Hantz Financial Services Inc. now owns 453 shares of the company's stock worth $28,000 after acquiring an additional 271 shares in the last quarter. VSM Wealth Advisory LLC acquired a new position in Doximity during the 1st quarter valued at about $29,000. Allworth Financial LP increased its position in Doximity by 104.0% during the 1st quarter. Allworth Financial LP now owns 563 shares of the company's stock valued at $32,000 after buying an additional 287 shares in the last quarter. National Bank of Canada FI acquired a new position in Doximity during the 1st quarter valued at about $33,000. Finally, Spire Wealth Management grew its stake in Doximity by 73.2% during the 1st quarter. Spire Wealth Management now owns 615 shares of the company's stock valued at $36,000 after purchasing an additional 260 shares during the last quarter. 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.