Brokerages Set Doximity, Inc. (NASDAQ:DOCS) Target Price at $50.00

Doximity, Inc. (NASDAQ:DOCSGet Rating) has received an average rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $50.00.

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group cut their target price on Doximity from $72.00 to $56.00 and set a “buy” rating for the company in a research report on Wednesday, May 18th. Raymond James cut their target price on Doximity from $60.00 to $40.00 in a research report on Wednesday, May 18th. Piper Sandler cut their target price on Doximity from $81.00 to $44.00 in a research report on Wednesday, May 18th. Bank of America cut their target price on Doximity from $55.00 to $36.00 and set a “neutral” rating for the company in a research report on Wednesday, May 18th. Finally, Needham & Company LLC cut their price objective on Doximity from $70.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday, May 18th.

Shares of DOCS stock opened at $36.03 on Thursday. Doximity has a 12-month low of $27.06 and a 12-month high of $107.79. The firm has a market capitalization of $6.96 billion and a price-to-earnings ratio of 52.22. The business has a 50 day simple moving average of $37.40 and a 200 day simple moving average of $46.29.

Doximity (NASDAQ:DOCSGet Rating) last released its earnings results on Tuesday, May 17th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.06. The firm had revenue of $93.65 million during the quarter, compared to the consensus estimate of $90.17 million. Doximity had a return on equity of 17.19% and a net margin of 40.52%. The firm’s revenue for the quarter was up 40.4% compared to the same quarter last year. On average, sell-side analysts forecast that Doximity will post 0.56 EPS for the current fiscal year.

In related news, CRO Paul W. Jorgensen acquired 15,000 shares of the business’s stock in a transaction that occurred on Friday, May 20th. The shares were acquired at an average cost of $32.19 per share, with a total value of $482,850.00. Following the transaction, the executive now owns 197,676 shares of the company’s stock, valued at approximately $6,363,190.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kira Scherer Wampler sold 2,200 shares of Doximity stock in a transaction on Friday, April 1st. The shares were sold at an average price of $53.10, for a total transaction of $116,820.00. The disclosure for this sale can be found here. Insiders own 45.21% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Central Bank & Trust Co. grew its stake in Doximity by 400.0% in the 1st quarter. Central Bank & Trust Co. now owns 500 shares of the company’s stock valued at $26,000 after buying an additional 400 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new position in Doximity in the 3rd quarter valued at about $27,000. Washington Trust Advisors Inc. bought a new stake in Doximity in the 1st quarter valued at about $28,000. Signaturefd LLC boosted its holdings in Doximity by 460.0% in the 1st quarter. Signaturefd LLC now owns 728 shares of the company’s stock valued at $38,000 after purchasing an additional 598 shares during the period. Finally, New York State Common Retirement Fund bought a new stake in Doximity in the 1st quarter valued at about $45,000. Institutional investors own 67.88% of the company’s stock.

About Doximity (Get Rating)

Doximity, Inc operates a cloud-based digital platform for medical professionals in the United States. The company's cloud-based 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.

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Analyst Recommendations for Doximity (NASDAQ:DOCS)

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