Analysts Set Doximity, Inc. (NASDAQ:DOCS) PT at $28.73

Shares of Doximity, Inc. (NASDAQ:DOCS) have been given a consensus recommendation of “Hold” by the fifteen research firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $28.73.

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

Doximity Price Performance

Shares of NASDAQ:DOCS opened at $27.37 on Friday. The company has a market capitalization of $5.08 billion, a P/E ratio of 38.01, a P/E/G ratio of 5.14 and a beta of 1.22. Doximity has a 1 year low of $19.71 and a 1 year high of $36.29. The business’s 50 day simple moving average is $27.05 and its 200 day simple moving average is $27.47.

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

Insider Buying and Selling

In related news, insider Craig Overpeck sold 1,500 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $23.85, for a total transaction of $35,775.00. Following the completion of the transaction, the insider now directly owns 108,609 shares of the company’s stock, valued at approximately $2,590,324.65. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Craig Overpeck sold 1,500 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $23.85, for a total transaction of $35,775.00. Following the completion of the transaction, the insider now directly owns 108,609 shares of the company’s stock, valued at approximately $2,590,324.65. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kira Scherer Wampler sold 2,500 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $27.22, for a total value of $68,050.00. Following the transaction, the director now directly owns 10,258 shares of the company’s stock, valued at $279,222.76. The disclosure for this sale can be found here. Insiders sold a total of 46,500 shares of company stock valued at $1,373,825 in the last three months. Insiders own 39.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in DOCS. PNC Financial Services Group Inc. raised its position in shares of Doximity by 16.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 6,500 shares of the company’s stock worth $138,000 after acquiring an additional 925 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Doximity by 21.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 156,717 shares of the company’s stock worth $3,326,000 after acquiring an additional 27,468 shares in the last quarter. Federated Hermes Inc. raised its position in shares of Doximity by 33.8% in the 3rd quarter. Federated Hermes Inc. now owns 23,635 shares of the company’s stock worth $502,000 after acquiring an additional 5,977 shares in the last quarter. Treasurer of the State of North Carolina grew its stake in shares of Doximity by 10.7% in the 3rd quarter. Treasurer of the State of North Carolina now owns 52,608 shares of the company’s stock valued at $1,116,000 after buying an additional 5,070 shares during the period. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of Doximity in the 3rd quarter valued at about $4,112,000. 87.19% of the stock is owned by institutional investors.

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.