Doximity - DOCS Stock Forecast, Price & News

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. It primarily serves pharmaceutical manufacturers and healthcare systems. The company was formerly known as 3MD Communications, Inc. and changed its name to Doximity, Inc. in June 2010. Doximity, Inc. was incorporated in 2010 and is headquartered in San Francisco, California.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on DOCS. Piper Sandler decreased their price target on shares of Doximity from $44.00 to $39.00 in a research note on Friday, August 5th. Bank of America downgraded shares of Doximity from a "neutral" rating to an "underperform" rating and reduced their target price for the company from $43.00 to $29.00 in a research note on Friday, August 5th. Jefferies Financial Group reduced their target price on shares of Doximity from $78.00 to $46.00 and set a "buy" rating on the stock in a research note on Wednesday, May 18th. Canaccord Genuity Group reduced their target price on shares of Doximity from $47.00 to $42.00 and set a "buy" rating on the stock in a research note on Friday, August 5th. Finally, Raymond James reduced their target price on shares of Doximity from $60.00 to $40.00 in a research note on Wednesday, May 18th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, Doximity has an average rating of "Moderate Buy" and an average target price of $48.47.

Doximity Price Performance

Shares of Doximity stock opened at $37.98 on Friday. Doximity has a 1 year low of $27.06 and a 1 year high of $107.79. The firm's 50-day moving average is $39.03 and its two-hundred day moving average is $43.85. The stock has a market cap of $7.33 billion, a price-to-earnings ratio of 54.26, a PEG ratio of 19.13 and a beta of 0.78.

Doximity (NASDAQ:DOCS - Get Rating) last issued its earnings results on Tuesday, May 17th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.08. Doximity had a net margin of 41.72% and a return on equity of 17.99%. The company had revenue of $93.65 million for the quarter, compared to analysts' expectations of $90.17 million. Doximity's revenue was up 40.4% on a year-over-year basis. On average, equities analysts expect that Doximity will post 0.55 earnings per share for the current year.

Insiders Place Their Bets

In other news, CRO Paul W. Jorgensen purchased 15,000 shares of the stock in a transaction dated Friday, May 20th. The shares were acquired at an average cost of $32.19 per share, for a total transaction of $482,850.00. Following the acquisition, the executive now owns 197,676 shares of the company's stock, valued at $6,363,190.44. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 45.21% of the stock is owned by company insiders.