Brokerages Set Doximity, Inc. (NASDAQ:DOCS) Price Target at $65.74

Doximity, Inc. (NASDAQ:DOCS) has received a consensus recommendation of “Moderate Buy” from the twenty-one research firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $64.9474.

Several equities research analysts recently commented on the company. KeyCorp dropped their target price on Doximity from $75.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday, January 8th. Evercore ISI reiterated an “outperform” rating on shares of Doximity in a research note on Thursday, January 8th. Mizuho set a $45.00 target price on shares of Doximity in a research report on Wednesday. Truist Financial set a $62.00 price target on shares of Doximity in a report on Thursday, January 8th. Finally, The Goldman Sachs Group raised shares of Doximity from a “neutral” rating to a “buy” rating and set a $49.00 price target on the stock in a research note on Friday, January 9th.

Doximity Trading Up 1.1%

NASDAQ:DOCS opened at $35.23 on Friday. The firm’s fifty day simple moving average is $43.52 and its 200 day simple moving average is $57.09. Doximity has a twelve month low of $33.77 and a twelve month high of $85.21. The firm has a market capitalization of $6.63 billion, a price-to-earnings ratio of 35.23, a PEG ratio of 4.10 and a beta of 1.39.

Doximity (NASDAQ:DOCS) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.45 EPS for the quarter, beating 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 firm earned $0.30 EPS. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. On average, analysts predict that Doximity will post 0.99 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Doximity by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 13,285,485 shares of the company’s stock valued at $588,281,000 after purchasing an additional 518,916 shares in the last quarter. William Blair Investment Management LLC increased its stake in shares of Doximity by 11.7% in the third quarter. William Blair Investment Management LLC now owns 5,829,169 shares of the company’s stock worth $426,404,000 after buying an additional 609,775 shares during the last quarter. Capital World Investors raised its holdings in Doximity by 25.7% in the third quarter. Capital World Investors now owns 5,381,431 shares of the company’s stock valued at $393,652,000 after acquiring an additional 1,101,848 shares in the last quarter. Geode Capital Management LLC boosted its stake 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 acquiring an additional 261,319 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in Doximity by 6.2% during the 3rd quarter. Franklin Resources Inc. now owns 3,357,505 shares of the company’s stock worth $245,601,000 after acquiring an additional 194,912 shares in the last quarter. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Doximity Company Profile

Doximity, Inc, headquartered in San Francisco, California, operates the leading professional medical network for healthcare professionals in the United States. Founded in 2011 by Jeff Tangney and Shari Buck, the company set out to create a secure digital environment where physicians, nurse practitioners and physician assistants can collaborate, share information and stay current with clinical news. Doximity went public in June 2021 and trades on the NASDAQ under the ticker symbol “DOCS.”

The core offering of Doximity is its HIPAA-compliant communication platform, which includes a secure messaging system, digital fax services and telehealth capabilities.