Analysts Set Doximity, Inc. (NASDAQ:DOCS) Target Price at $32.42

Doximity, Inc. (NASDAQ:DOCS) has been assigned an average recommendation of “Hold” from the fifteen brokerages that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $32.42.

DOCS has been the topic of several analyst reports. Canaccord Genuity Group increased their target price on Doximity from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Barclays increased their target price on Doximity from $31.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Evercore ISI increased their price target on Doximity from $29.00 to $34.00 and gave the stock an “in-line” rating in a research note on Friday, August 9th. Robert W. Baird increased their price target on Doximity from $41.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 17th. Finally, Baird R W raised Doximity to a “strong-buy” rating in a research note on Tuesday, September 17th.

Doximity Trading Up 0.6 %

DOCS stock opened at $40.88 on Wednesday. The firm has a market cap of $7.58 billion, a P/E ratio of 56.78, a P/E/G ratio of 5.15 and a beta of 1.27. Doximity has a 12-month low of $19.71 and a 12-month high of $41.05. The stock’s 50 day simple moving average is $33.47 and its 200 day simple moving average is $29.09.

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

Insider Buying and Selling

In related news, Director Kira Scherer Wampler sold 2,500 shares of Doximity stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $28.00, for a total value of $70,000.00. Following the transaction, the director now owns 10,258 shares of the company’s stock, valued at approximately $287,224. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Doximity news, Director Kira Scherer Wampler sold 2,500 shares of Doximity stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $28.00, for a total transaction of $70,000.00. Following the transaction, the director now owns 10,258 shares of the company’s stock, valued at approximately $287,224. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Watkin Phoebe L. Yang sold 1,011 shares of Doximity stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $25.54, for a total value of $25,820.94. Following the transaction, the director now directly owns 11,258 shares in the company, valued at approximately $287,529.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,951 shares of company stock valued at $1,271,018. 39.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Doximity

Institutional investors and hedge funds have recently bought and sold shares of the business. LRI Investments LLC purchased a new position in Doximity during the 1st quarter valued at about $27,000. Blue Trust Inc. lifted its holdings in shares of Doximity by 621.4% during the 2nd quarter. Blue Trust Inc. now owns 1,385 shares of the company’s stock valued at $37,000 after buying an additional 1,193 shares during the last quarter. Quarry LP lifted its holdings in shares of Doximity by 101.2% during the 2nd quarter. Quarry LP now owns 1,616 shares of the company’s stock valued at $45,000 after buying an additional 131,253 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Doximity during the 1st quarter valued at about $46,000. Finally, First Horizon Advisors Inc. lifted its holdings in shares of Doximity by 80.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,710 shares of the company’s stock valued at $48,000 after buying an additional 760 shares during the last quarter. Hedge funds and other institutional investors 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.