Analysts Set Doximity, Inc. (NASDAQ:DOCS) PT at $67.95

Shares of Doximity, Inc. (NASDAQ:DOCS) have been given an average rating of “Moderate Buy” by the twenty-two analysts that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $67.9474.

DOCS has been the topic of several analyst reports. Barclays began coverage on Doximity in a research report on Monday, December 8th. They set an “overweight” rating and a $63.00 price target on the stock. Robert W. Baird upped their target price on Doximity from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, September 11th. Bank of America upgraded Doximity from a “neutral” rating to a “buy” rating and lifted their price target for the company from $75.00 to $82.00 in a research report on Monday, October 27th. Raymond James Financial raised Doximity from an “outperform” rating to a “strong-buy” rating and cut their price objective for the stock from $75.00 to $65.00 in a report on Friday, November 21st. Finally, Zacks Research downgraded shares of Doximity from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 20th.

Insider Buying and Selling

In related news, Director Timothy S. Cabral sold 20,000 shares of the stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $75.00, for a total value of $1,500,000.00. Following the transaction, the director owned 3,221 shares of the company’s stock, valued at $241,575. This represents a 86.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kira Scherer Wampler sold 2,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $66.44, for a total value of $132,880.00. Following the sale, the director owned 19,839 shares in the company, valued at $1,318,103.16. The trade was a 9.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 27,000 shares of company stock worth $1,987,080. Corporate insiders own 31.30% of the company’s stock.

Institutional Trading of Doximity

Hedge funds and other institutional investors have recently bought and sold shares of the company. William Blair Investment Management LLC lifted its holdings in shares of Doximity by 11.7% in the 3rd quarter. William Blair Investment Management LLC now owns 5,829,169 shares of the company’s stock worth $426,404,000 after acquiring an additional 609,775 shares during the last quarter. Capital World Investors raised its holdings in Doximity by 25.7% during the 3rd quarter. Capital World Investors now owns 5,381,431 shares of the company’s stock valued at $393,652,000 after buying an additional 1,101,848 shares during the last quarter. Geode Capital Management LLC boosted its position in Doximity by 7.7% during the 2nd quarter. Geode Capital Management LLC now owns 3,639,898 shares of the company’s stock valued at $223,829,000 after buying an additional 261,319 shares during the period. Franklin Resources Inc. boosted its position in Doximity by 6.2% during the 3rd quarter. Franklin Resources Inc. now owns 3,357,505 shares of the company’s stock valued at $245,601,000 after buying an additional 194,912 shares during the period. Finally, Invesco Ltd. grew its holdings in Doximity by 22.9% in the 3rd quarter. Invesco Ltd. now owns 2,328,300 shares of the company’s stock worth $170,315,000 after acquiring an additional 433,983 shares during the last quarter. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Doximity Price Performance

Shares of DOCS opened at $43.77 on Friday. Doximity has a 1 year low of $43.60 and a 1 year high of $85.21. The stock’s fifty day moving average price is $57.99 and its two-hundred day moving average price is $61.49. The firm has a market cap of $8.24 billion, a PE ratio of 43.77, a PEG ratio of 4.10 and a beta of 1.38.

Doximity (NASDAQ:DOCS) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.07. Doximity had a return on equity of 21.75% and a net margin of 36.60%.During the same period last year, the company posted $0.30 earnings per share. The company’s revenue was up 23.2% on a year-over-year basis. Sell-side analysts anticipate that Doximity will post 0.99 earnings per share for the current fiscal year.

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.