Doximity, Inc. (NYSE:DOCS) Given Average Rating of “Hold” by Analysts

Shares of Doximity, Inc. (NYSE:DOCS) have received a consensus recommendation of “Hold” from the twenty-five research firms that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, fourteen have assigned a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $32.1818.

DOCS has been the subject of several recent research reports. Evercore set a $40.00 target price on shares of Doximity in a research note on Friday, August 7th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $30.00 price target on shares of Doximity in a report on Friday, August 7th. 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 report on Monday, June 29th. Freedom Capital cut shares of Doximity from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 8th. Finally, Wells Fargo & Company cut shares of Doximity from an “equal weight” rating to an “underweight” rating and set a $18.00 target price on the stock. in a report on Monday, August 10th.

Insider Buying and Selling

In other Doximity news, Director Kira Wampler sold 2,000 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $24.95, for a total value of $49,900.00. Following the sale, the director directly owned 19,839 shares of the company’s stock, valued at $494,983.05. This trade represents a 9.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Siddharth Sitaram sold 2,077 shares of the firm’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $26.02, for a total value of $54,043.54. Following the completion of the sale, the chief accounting officer owned 96,045 shares in the company, valued at $2,499,090.90. The trade was a 2.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders sold a total of 13,347 shares of company stock worth $441,412 in the last three months. 31.80% of the stock is owned by insiders.

Institutional Trading of Doximity

Hedge funds have recently bought and sold shares of the company. Capital World Investors boosted its position in shares of Doximity by 5.1% during the fourth quarter. Capital World Investors now owns 5,654,875 shares of the company’s stock worth $250,398,000 after buying an additional 273,444 shares during the period. Carmignac Gestion increased its position in Doximity by 127.8% in the 1st 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 during the period. Wellington Management Group LLP increased its position in Doximity by 24.7% in the 2nd quarter. Wellington Management Group LLP now owns 3,135,113 shares of the company’s stock valued at $65,022,000 after acquiring an additional 621,464 shares during the period. Renaissance Technologies LLC raised its stake in Doximity by 29.4% during the 1st quarter. Renaissance Technologies LLC now owns 3,059,749 shares of the company’s stock valued at $71,292,000 after acquiring an additional 694,300 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in Doximity by 3,403.2% during the 1st 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 in the last quarter. 87.19% of the stock is currently owned by institutional investors.

Doximity Stock Performance

NYSE:DOCS opened at $26.82 on Thursday. The company has a market capitalization of $4.78 billion, a price-to-earnings ratio of 31.55, a price-to-earnings-growth ratio of 20.42 and a beta of 1.25. Doximity has a one year low of $17.15 and a one year high of $76.51. The stock has a 50-day simple moving average of $24.17 and a 200 day simple moving average of $23.13.

Doximity (NYSE:DOCS) last issued its earnings results on Thursday, August 6th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.16 by $0.13. The company had revenue of $156.62 million during the quarter. Doximity had a return on equity of 18.06% and a net margin of 25.48%.Doximity’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 EPS. On average, equities research analysts forecast that Doximity will post 0.74 EPS for the current fiscal year.

About Doximity

Doximity, Inc operates a digital platform for U.S. medical professionals. Its network enables physicians and other healthcare providers to communicate, collaborate, access medical news and research, maintain professional profiles, and connect with colleagues and patients.

The company offers a range of tools for healthcare organizations and professionals, including telehealth services, digital faxing, scheduling and communication products, and solutions for recruiting and marketing. Doximity also provides pharmaceutical and healthcare companies with digital engagement services designed to reach medical professionals through its platform.

Founded in 2010, Doximity is headquartered in San Francisco and primarily serves the United States healthcare market.