Doximity, Inc. (NASDAQ:DOCS) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Doximity, Inc. (NASDAQ:DOCS) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-one analysts that are covering the firm, MarketBeat reports. Eleven research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $64.22.

A number of research firms have recently weighed in on DOCS. Piper Sandler raised shares of Doximity from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $31.00 to $78.00 in a research report on Friday, February 7th. Leerink Partnrs raised shares of Doximity from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 7th. Stephens began coverage on shares of Doximity in a research report on Friday, December 20th. They issued an “equal weight” rating and a $55.00 target price on the stock. Raymond James reaffirmed an “outperform” rating and issued a $83.00 target price (up from $65.00) on shares of Doximity in a research report on Friday, February 7th. Finally, Needham & Company LLC upped their target price on shares of Doximity from $65.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, February 7th.

Doximity Trading Up 1.9 %

Shares of Doximity stock opened at $61.64 on Wednesday. The company’s fifty day simple moving average is $63.11 and its two-hundred day simple moving average is $52.16. The company has a market cap of $11.51 billion, a P/E ratio of 61.64, a PEG ratio of 4.10 and a beta of 1.34. Doximity has a 12-month low of $22.96 and a 12-month high of $85.21.

Insider Activity

In related news, Director Timothy S. Cabral sold 20,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $57.62, for a total value of $1,152,400.00. Following the completion of the sale, the director now directly owns 6,360 shares in the company, valued at $366,463.20. This trade represents a 75.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 37.40% of the company’s stock.

Institutional Trading of Doximity

Institutional investors have recently bought and sold shares of the stock. Shaker Investments LLC OH bought a new stake in shares of Doximity during the fourth quarter worth $559,000. Penserra Capital Management LLC purchased a new position in shares of Doximity during the third quarter valued at $2,384,000. Principal Financial Group Inc. increased its stake in shares of Doximity by 1.5% during the fourth quarter. Principal Financial Group Inc. now owns 293,974 shares of the company’s stock valued at $15,695,000 after buying an additional 4,282 shares during the period. Newbridge Financial Services Group Inc. purchased a new position in shares of Doximity during the fourth quarter valued at $362,000. Finally, Stratos Wealth Partners LTD. purchased a new position in shares of Doximity during the fourth quarter valued at $203,000. 87.19% of the stock is currently owned by institutional investors.

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.