Doximity, Inc. (NASDAQ:DOCS) Receives Consensus Rating of “Hold” from Analysts

Doximity, Inc. (NASDAQ:DOCS) has been assigned a consensus rating of “Hold” from the fifteen ratings firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $28.73.

A number of research analysts have recently weighed in on DOCS shares. Morgan Stanley reissued an “underweight” rating and set a $25.00 target price on shares of Doximity in a research report on Tuesday, April 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Doximity in a report on Friday, May 17th. Evercore ISI raised their price objective on shares of Doximity from $28.00 to $29.00 and gave the stock an “in-line” rating in a report on Friday, May 17th. JPMorgan Chase & Co. raised shares of Doximity from an “underweight” rating to a “neutral” rating and set a $25.00 price objective for the company in a report on Thursday, April 25th. Finally, William Blair reaffirmed an “outperform” rating on shares of Doximity in a report on Friday, May 17th.

Doximity Stock Performance

Shares of DOCS stock opened at $26.37 on Friday. Doximity has a 52-week low of $19.71 and a 52-week high of $36.29. The company has a 50-day simple moving average of $26.85 and a two-hundred day simple moving average of $27.47. The company has a market capitalization of $4.89 billion, a price-to-earnings ratio of 36.63, a PEG ratio of 5.04 and a beta of 1.22.

Doximity (NASDAQ:DOCS) last released its earnings results on Thursday, May 16th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.04. Doximity had a net margin of 31.04% and a return on equity of 17.44%. The firm had revenue of $118.06 million during the quarter, compared to the consensus estimate of $116.46 million. On average, sell-side analysts forecast that Doximity will post 0.74 EPS for the current fiscal year.

Insider Activity

In other news, CFO Anna Bryson sold 30,000 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $30.00, for a total transaction of $900,000.00. Following the sale, the chief financial officer now owns 288,685 shares in the company, valued at approximately $8,660,550. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Craig Overpeck sold 1,500 shares of Doximity stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $23.85, for a total value of $35,775.00. Following the transaction, the insider now owns 108,609 shares in the company, valued at approximately $2,590,324.65. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Anna Bryson sold 30,000 shares of Doximity stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $30.00, for a total transaction of $900,000.00. Following the completion of the transaction, the chief financial officer now owns 288,685 shares in the company, valued at approximately $8,660,550. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,500 shares of company stock worth $1,373,825. 39.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Doximity

Large investors have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. grew its holdings in Doximity by 111.3% in the 4th quarter. First Horizon Advisors Inc. now owns 995 shares of the company’s stock worth $28,000 after acquiring an additional 524 shares during the last quarter. LRI Investments LLC bought a new stake in Doximity in the 1st quarter worth $27,000. GAMMA Investing LLC bought a new stake in Doximity in the 4th quarter worth $40,000. DekaBank Deutsche Girozentrale bought a new stake in Doximity in the 1st quarter worth $46,000. Finally, Essex Investment Management Co. LLC bought a new stake in Doximity in the 1st quarter worth $73,000. Institutional investors own 87.19% of the company’s stock.

About Doximity

Doximity, Inc operates a cloud-based digital platform for medical professionals in the United States. The company's platform provides its members with tools built for medical professionals, enabling them to collaborate with their colleagues, coordinate patient care, conduct virtual patient visits, stay up to date with the latest medical news and research, and manage their careers.