Brokerages Set Doximity, Inc. (NYSE:DOCS) PT at $29.33

Shares of Doximity, Inc. (NYSE:DOCS) have earned an average recommendation of “Hold” from the twenty-four brokerages that are currently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $29.3333.

Several equities analysts have recently issued reports on DOCS shares. Barclays reissued an “equal weight” rating and issued a $20.00 price target (down from $38.00) on shares of Doximity in a report on Thursday, May 14th. Bank of America reaffirmed an “underperform” rating and set a $20.00 price objective (down from $38.00) on shares of Doximity in a research note on Monday, June 29th. Robert W. Baird reiterated a “neutral” rating and set a $18.00 target price (down from $40.00) on shares of Doximity in a report on Thursday, May 14th. Citigroup cut Doximity to an “underperform” rating in a research note on Monday, June 29th. Finally, Needham & Company LLC lowered their price target on Doximity from $55.00 to $27.00 and set a “buy” rating for the company in a report on Thursday, May 14th.

Doximity Trading Down 4.4%

Doximity stock opened at $21.75 on Friday. The firm has a market capitalization of $3.98 billion, a P/E ratio of 21.97, a PEG ratio of 7.06 and a beta of 1.30. The business has a 50-day moving average of $21.53 and a 200-day moving average of $27.64. Doximity has a 1 year low of $17.15 and a 1 year high of $76.51.

Insider Activity at Doximity

In related news, insider Siddharth Sitaram sold 2,444 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $20.41, for a total transaction of $49,882.04. Following the completion of the sale, the insider directly owned 90,706 shares of the company’s stock, valued at approximately $1,851,309.46. This represents a 2.62% decrease in their position. The transaction 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 that occurred on Thursday, May 7th. The shares were sold at an average price of $26.06, for a total transaction of $234,540.00. Following the completion of the transaction, the director owned 19,839 shares of the company’s stock, valued at $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. Insiders sold a total of 16,180 shares of company stock valued at $395,110 over the last quarter. 31.30% of the stock is owned by insiders.

Institutional Trading of Doximity

Several hedge funds and other institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Doximity by 0.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,978 shares of the company’s stock worth $2,262,000 after buying an additional 210 shares during the period. BOKF NA raised its holdings in shares of Doximity by 5.3% in the third quarter. BOKF NA now owns 5,356 shares of the company’s stock valued at $392,000 after purchasing an additional 269 shares during the last quarter. Northwestern Mutual Investment Management Company LLC raised its holdings in shares of Doximity by 1.1% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 30,736 shares of the company’s stock valued at $1,361,000 after purchasing an additional 333 shares during the last quarter. Lifestyle Asset Management Inc. lifted its position in shares of Doximity by 5.9% in the fourth quarter. Lifestyle Asset Management Inc. now owns 7,083 shares of the company’s stock worth $314,000 after purchasing an additional 396 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Doximity by 99.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 796 shares of the company’s stock worth $35,000 after purchasing an additional 397 shares in the last quarter. Institutional investors and hedge funds 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.