Piper Sandler Reiterates Overweight Rating for Doximity (NYSE:DOCS)

Doximity (NYSE:DOCS)‘s stock had its “overweight” rating reissued by equities researchers at Piper Sandler in a research report issued on Friday,Benzinga reports. They presently have a $47.00 price objective on the stock, up from their prior price objective of $42.00. Piper Sandler’s target price points to a potential upside of 65.89% from the stock’s current price.

Several other equities analysts have also recently issued reports on DOCS. Weiss Ratings cut shares of Doximity from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 15th. Evercore set a $40.00 price objective on shares of Doximity in a report on Friday. Jefferies Financial Group lowered Doximity from a “buy” rating to a “hold” rating and decreased their target price for the stock from $51.00 to $19.00 in a research report on Thursday, May 14th. KeyCorp cut Doximity from an “overweight” rating to a “sector weight” rating in a research note on Thursday, May 14th. Finally, Leerink Partners lowered their target price on Doximity from $31.00 to $25.00 and set an “outperform” rating for the company in a research note on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $31.19.

Doximity Price Performance

NYSE:DOCS traded up $7.67 during trading hours on Friday, hitting $28.33. The company had a trading volume of 39,370,051 shares, compared to its average volume of 4,013,574. The company has a market capitalization of $5.18 billion, a PE ratio of 28.46, a price-to-earnings-growth ratio of 7.85 and a beta of 1.29. The stock has a 50-day moving average price of $21.16 and a 200 day moving average price of $24.35. Doximity has a 52 week low of $17.15 and a 52 week high of $76.51.

Doximity (NYSE:DOCS) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.13. Doximity had a net margin of 30.40% and a return on equity of 20.40%. The business had revenue of $156.62 million for the quarter. During the same period in the previous year, the firm posted $0.36 earnings per share. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. Analysts anticipate that Doximity will post 0.87 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Siddharth Sitaram sold 2,444 shares of the firm’s 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 transaction, the insider owned 90,706 shares of the company’s stock, valued at $1,851,309.46. This trade represents a 2.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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. 31.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Doximity

Institutional investors have recently modified their holdings of the stock. Handelsbanken Fonder AB raised its position in shares of Doximity by 5.4% in the 2nd quarter. Handelsbanken Fonder AB now owns 39,300 shares of the company’s stock worth $815,000 after purchasing an additional 2,000 shares during the last quarter. Central Pacific Bank Trust Division grew its position in Doximity by 34.3% during the 2nd quarter. Central Pacific Bank Trust Division now owns 6,972 shares of the company’s stock valued at $145,000 after purchasing an additional 1,780 shares during the last quarter. Pacer Advisors Inc. grew its position in Doximity by 108.0% during the 1st quarter. Pacer Advisors Inc. now owns 908,938 shares of the company’s stock valued at $21,178,000 after purchasing an additional 471,972 shares during the last quarter. Empowered Funds LLC increased its stake in Doximity by 163.5% during the 1st quarter. Empowered Funds LLC now owns 32,239 shares of the company’s stock valued at $751,000 after purchasing an additional 20,006 shares in the last quarter. Finally, Carmignac Gestion increased its stake in Doximity by 127.8% during the 1st quarter. Carmignac Gestion now owns 4,311,997 shares of the company’s stock valued at $100,480,000 after purchasing an additional 2,418,971 shares in the last quarter. 87.19% of the stock is owned by hedge funds and other institutional investors.

Key Doximity News

Here are the key news stories impacting Doximity this week:

• Positive Sentiment: Revenue beat and stronger full-year outlook: Doximity reported quarterly revenue of $156.6 million, up 7.3% year over year, and raised fiscal 2027 revenue guidance to $671 million–$681 million, slightly above Wall Street’s prior estimate. Doximity Shares Soar After Revenue Beat and Higher Full-Year Forecast
• Positive Sentiment: AI is the main catalyst: Management said its clinical AI search product generated approximately 10 times the revenue required to operate it, while the CEO said the company’s clinical AI performance exceeded Anthropic in internal comparisons. Investors view AI-driven engagement and future monetization as potential upside not fully reflected in current guidance. Shares of this digital medical platform were up more than 100% at one point
• Positive Sentiment: Analyst sentiment improved: Analysts raised price targets and became more constructive on Doximity’s growth prospects following the results and AI commentary, adding momentum to the stock. DOCS stock soars after CEO says clinical AI outperformed Anthropic
• Neutral Sentiment: Trading volatility was extreme: Multiple limit-up/limit-down pauses were reported as trading volume surged, indicating unusually high speculative activity and heightened short-term volatility. LinkedIn for Doctors Stock Nearly Doubles After Earnings
• Negative Sentiment: Earnings were mixed: Adjusted EPS of $0.29 exceeded some published consensus estimates but fell short of the $0.30 Zacks estimate and declined from $0.36 a year earlier. Second-quarter revenue guidance of $170 million–$171 million was also marginally below the consensus estimate of $171.1 million. Doximity Q1 Earnings Lag Estimates

About Doximity

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.