Doximity, Inc. (NYSE:DOCS) Receives Average Rating of “Hold” from Brokerages

Doximity, Inc. (NYSE:DOCS) has been given a consensus recommendation of “Hold” by the twenty-three ratings firms that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $30.6190.

DOCS has been the topic of several research analyst reports. Leerink Partners reduced their price target on shares of Doximity from $31.00 to $25.00 and set an “outperform” rating on the stock in a research report on Thursday, May 14th. Royal Bank Of Canada restated an “outperform” rating and issued a $44.00 price objective on shares of Doximity in a report on Monday, March 9th. Weiss Ratings cut shares of Doximity from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 15th. Freedom Capital upgraded shares of Doximity to a “strong-buy” rating in a report on Tuesday, March 17th. Finally, The Goldman Sachs Group cut their price objective on shares of Doximity from $28.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, May 14th.

Doximity Price Performance

Shares of NYSE DOCS opened at $20.02 on Tuesday. Doximity has a 1 year low of $17.15 and a 1 year high of $76.51. The company’s 50-day moving average is $22.30. The stock has a market capitalization of $3.66 billion, a PE ratio of 20.22, a P/E/G ratio of 3.41 and a beta of 1.30.

Insider Transactions at Doximity

In other Doximity news, insider Siddharth Sitaram sold 2,444 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $20.41, for a total value of $49,882.04. Following the sale, the insider owned 90,706 shares in the company, valued at approximately $1,851,309.46. This represents a 2.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 Kira Scherer Wampler sold 9,000 shares of the company’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $26.06, for a total transaction of $234,540.00. Following the completion of the sale, the director owned 19,839 shares in the company, valued at approximately $517,004.34. This trade represents a 31.21% 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. In the last 90 days, insiders sold 16,180 shares of company stock worth $395,110. Corporate insiders own 31.30% of the company’s stock.

Institutional Investors Weigh In On Doximity

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC grew its holdings in Doximity by 111.0% in the first quarter. Parallel Advisors LLC now owns 2,560 shares of the company’s stock worth $60,000 after purchasing an additional 1,347 shares during the period. Essential Partners LLC lifted its stake in shares of Doximity by 34,438.5% in the first quarter. Essential Partners LLC now owns 8,980 shares of the company’s stock worth $209,000 after buying an additional 8,954 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Doximity by 31.8% in the first quarter. Bank of America Corp DE now owns 1,142,530 shares of the company’s stock worth $26,621,000 after buying an additional 275,650 shares in the last quarter. Edgestream Partners L.P. lifted its stake in shares of Doximity by 110.8% in the first quarter. Edgestream Partners L.P. now owns 252,555 shares of the company’s stock worth $5,885,000 after buying an additional 132,733 shares in the last quarter. Finally, Amundi lifted its stake in shares of Doximity by 9,956.5% in the first quarter. Amundi now owns 569,095 shares of the company’s stock worth $13,260,000 after buying an additional 563,436 shares in the last quarter. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Doximity Company Profile

Doximity, trading as DOCS, operates a digital professional network and communications platform designed primarily for clinicians. Headquartered in San Francisco, the company connects physicians, nurse practitioners, physician assistants and other healthcare professionals, providing tools that streamline clinical communication, telehealth delivery and access to specialty-specific medical information. Its platform is positioned as a professional hub where clinicians manage their workflows, stay current with medical news and collaborate securely with peers.

The company’s offerings include secure messaging and video telehealth capabilities that enable clinicians to consult with patients and colleagues while protecting patient information.