Doximity (NYSE:DOCS) Stock Jumps 4.3% – What’s Next?

Doximity, Inc. (NYSE:DOCS) rose 4.3% during trading on Thursday. The company traded as high as $29.00 and last traded at $28.8890. 674,629 shares were traded during trading, a decline of 83% from the average session volume of 3,981,646 shares. The stock had previously closed at $27.69.

Doximity News Roundup

Here are the key news stories impacting Doximity this week:

• Positive Sentiment: RBC Capital reaffirmed its Buy rating on Doximity, providing continued sell-side support for the stock. RBC Capital Reaffirms Their Buy Rating on Doximity
• Positive Sentiment: A valuation analysis considers whether Doximity is below fair value following the recent AI spending surge, potentially reinforcing the view that the shares offer upside if the company can benefit from artificial intelligence investment. Is Doximity Below Fair Value Following the AI Spending Surge?
• Neutral Sentiment: A review of vertical software companies’ second-quarter results puts Doximity’s recent performance in the broader sector context, but does not introduce a new company-specific catalyst. Reflecting on Vertical Software Stocks’ Q2 Earnings: Doximity
• Negative Sentiment: Several law firms, including Rosen, Kaplan Fox, SBS, Bronstein Gewirtz & Grossman, SueWallSt, Pomerantz and Robbins Geller, are publicizing a securities class action against Doximity. The allegations concern claimed loss of market share, reduced fiscal 2026 revenue guidance and a subsequent revenue shortfall. Investors have until November 16, 2026 to seek a lead-plaintiff role, increasing legal and reputational risk for DOCS. Rosen Doximity Securities Class Action Notice

Analyst Upgrades and Downgrades

DOCS has been the subject of a number of recent analyst reports. Wells Fargo & Company cut Doximity from an “equal weight” rating to an “underweight” rating and set a $18.00 target price for the company. in a research report on Monday, August 10th. Canaccord Genuity Group set a $36.00 price objective on shares of Doximity in a research note on Friday, August 7th. Truist Financial upped their price objective on shares of Doximity from $19.00 to $24.00 and gave the stock a “hold” rating in a report on Thursday, August 13th. Needham & Company LLC reiterated a “buy” rating and issued a $41.00 target price on shares of Doximity in a research note on Friday, August 7th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $30.00 target price on shares of Doximity in a research report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Doximity presently has an average rating of “Hold” and a consensus price target of $31.95.

Doximity Price Performance

The stock’s 50 day simple moving average is $25.95 and its two-hundred day simple moving average is $23.41. The stock has a market cap of $5.42 billion, a price-to-earnings ratio of 35.74, a P/E/G ratio of 22.98 and a beta of 1.22.

Doximity (NYSE:DOCS) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.13. The company had revenue of $156.62 million for the quarter. Doximity had a return on equity of 18.06% and a net margin of 25.48%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.36 earnings per share. As a group, analysts predict that Doximity, Inc. will post 0.74 earnings per share for the current year.

Insider Activity at Doximity

In other news, CAO Siddharth Sitaram sold 2,077 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $26.02, for a total value of $54,043.54. Following the transaction, the chief accounting officer owned 96,045 shares of the company’s stock, valued at $2,499,090.90. This represents a 2.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Watkin Phoebe L. Yang sold 1,290 shares of the company’s stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $26.71, for a total value of $34,455.90. Following the completion of the sale, the director owned 24,744 shares of the company’s stock, valued at $660,912.24. This represents a 4.96% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 16,637 shares of company stock worth $533,688. Company insiders own 31.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Carmignac Gestion grew its holdings in shares of Doximity by 127.8% in the first quarter. Carmignac Gestion now owns 4,311,997 shares of the company’s stock valued at $100,480,000 after acquiring an additional 2,418,971 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Doximity by 3,403.2% during the first quarter. SG Americas Securities LLC now owns 1,408,597 shares of the company’s stock valued at $32,820,000 after acquiring an additional 1,368,388 shares during the last quarter. Swedbank AB lifted its holdings in Doximity by 1,147.9% during the first quarter. Swedbank AB now owns 1,010,559 shares of the company’s stock worth $23,546,000 after acquiring an additional 929,576 shares during the period. Renaissance Technologies LLC lifted its holdings in Doximity by 29.4% during the first quarter. Renaissance Technologies LLC now owns 3,059,749 shares of the company’s stock worth $71,292,000 after acquiring an additional 694,300 shares during the period. Finally, Wellington Management Group LLP boosted its position in Doximity by 24.7% in the second quarter. Wellington Management Group LLP now owns 3,135,113 shares of the company’s stock worth $65,022,000 after purchasing an additional 621,464 shares during the last quarter. 87.19% of the stock is currently owned by institutional investors.

Doximity Company Profile

Doximity, Inc operates a digital platform designed for U.S. medical professionals. Its network enables physicians, nurse practitioners, physician assistants and other healthcare providers to connect with colleagues, exchange clinical information and access professional resources.

The company offers tools for telehealth and care coordination, including video and phone-based communication services, as well as digital faxing and secure messaging capabilities. Doximity also provides medical news and research content tailored to healthcare professionals.

Doximity generates additional business through recruiting and marketing solutions that help healthcare organizations reach clinicians and promote employment opportunities, services and products.