Doximity (NASDAQ:DOCS) Hits New 1-Year High at $41.77

Doximity, Inc. (NASDAQ:DOCS)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $41.77 and last traded at $41.71, with a volume of 20100 shares. The stock had previously closed at $41.50.

Analyst Ratings Changes

DOCS has been the topic of several analyst reports. Morgan Stanley upped their price target on shares of Doximity from $25.00 to $26.00 and gave the stock an “underweight” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. raised their price objective on Doximity from $27.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Bank of America increased their price objective on shares of Doximity from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday, August 9th. Evercore ISI lifted their target price on shares of Doximity from $29.00 to $34.00 and gave the stock an “in-line” rating in a report on Friday, August 9th. Finally, Robert W. Baird increased their price target on shares of Doximity from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, September 17th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $32.42.

Doximity Price Performance

The stock has a market cap of $7.68 billion, a P/E ratio of 57.64, a PEG ratio of 5.15 and a beta of 1.27. The stock has a 50-day simple moving average of $33.73 and a 200-day simple moving average of $29.19.

Doximity (NASDAQ:DOCS) last issued its earnings results on Thursday, August 8th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. The firm had revenue of $126.68 million for the quarter, compared to analyst estimates of $119.88 million. Doximity had a net margin of 32.53% and a return on equity of 19.26%. As a group, sell-side analysts forecast that Doximity, Inc. will post 0.8 earnings per share for the current year.

Insider Buying and Selling at Doximity

In related news, CFO Anna Bryson sold 30,000 shares of Doximity stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $35.00, for a total transaction of $1,050,000.00. Following the sale, the chief financial officer now directly owns 309,627 shares in the company, valued at approximately $10,836,945. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Watkin Phoebe L. Yang sold 1,011 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $25.54, for a total value of $25,820.94. Following the completion of the sale, the director now directly owns 11,258 shares in the company, valued at $287,529.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Anna Bryson sold 30,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $35.00, for a total value of $1,050,000.00. Following the transaction, the chief financial officer now directly owns 309,627 shares of the company’s stock, valued at $10,836,945. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,951 shares of company stock worth $1,271,018. 39.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Doximity

Several institutional investors and hedge funds have recently made changes to their positions in DOCS. William Blair Investment Management LLC acquired a new position in Doximity in the first quarter valued at $148,823,000. Swedbank AB bought a new stake in shares of Doximity during the 1st quarter valued at about $91,673,000. Norges Bank acquired a new stake in Doximity during the fourth quarter worth approximately $35,995,000. Capital World Investors lifted its stake in Doximity by 250.7% in the first quarter. Capital World Investors now owns 1,714,707 shares of the company’s stock valued at $46,143,000 after buying an additional 1,225,707 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in shares of Doximity by 33.5% during the 1st quarter. Janus Henderson Group PLC now owns 2,474,695 shares of the company’s stock worth $66,594,000 after buying an additional 621,590 shares in the last quarter. Institutional investors and hedge funds own 87.19% of the company’s stock.

Doximity Company Profile

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.