Doximity, Inc. (NYSE:DOCS – Get Free Report) has earned an average rating of “Hold” from the twenty-three research firms that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $30.6190.
A number of research firms recently commented on DOCS. Canaccord Genuity Group cut their price objective on Doximity from $34.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $18.00 price objective (down from $32.00) on shares of Doximity in a research note on Thursday, May 14th. BTIG Research lowered Doximity from a “buy” rating to a “neutral” rating in a research note on Thursday, May 14th. Mizuho cut their price objective on Doximity from $34.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, May 14th. Finally, Barclays reaffirmed an “equal weight” rating and issued a $20.00 price objective (down from $38.00) on shares of Doximity in a research note on Thursday, May 14th.
Check Out Our Latest Research Report on DOCS
Doximity Stock Performance
Insider Buying and Selling
In other Doximity news, Director Kira Scherer Wampler sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $26.06, for a total value of $234,540.00. Following the transaction, the director directly owned 19,839 shares of the company’s stock, valued at approximately $517,004.34. The trade was a 31.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Siddharth Sitaram sold 2,444 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $20.41, for a total value of $49,882.04. Following the completion of the transaction, the insider directly owned 90,706 shares in the company, valued at approximately $1,851,309.46. This trade represents a 2.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 16,180 shares of company stock worth $395,110. 31.30% of the stock is owned by insiders.
Hedge Funds Weigh In On Doximity
Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Doximity by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 13,285,485 shares of the company’s stock valued at $588,281,000 after purchasing an additional 518,916 shares during the last quarter. UBS Group AG boosted its stake in Doximity by 26.5% during the 4th quarter. UBS Group AG now owns 680,260 shares of the company’s stock valued at $30,122,000 after purchasing an additional 142,408 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Doximity by 325,436.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,298,891 shares of the company’s stock valued at $57,515,000 after purchasing an additional 1,298,492 shares during the last quarter. Blair William & Co. IL boosted its stake in Doximity by 1,990.7% during the 3rd quarter. Blair William & Co. IL now owns 362,740 shares of the company’s stock valued at $26,534,000 after purchasing an additional 345,390 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its stake in Doximity by 11.7% during the 3rd quarter. William Blair Investment Management LLC now owns 5,829,169 shares of the company’s stock valued at $426,404,000 after purchasing an additional 609,775 shares during the last quarter. 87.19% of the stock is owned by institutional investors and hedge funds.
Doximity Company Profile
Doximity, trading as DOCS, operates a digital professional network and communications platform designed primarily for clinicians. Headquartered in San Francisco, the company connects physicians, nurse practitioners, physician assistants and other healthcare professionals, providing tools that streamline clinical communication, telehealth delivery and access to specialty-specific medical information. Its platform is positioned as a professional hub where clinicians manage their workflows, stay current with medical news and collaborate securely with peers.
The company’s offerings include secure messaging and video telehealth capabilities that enable clinicians to consult with patients and colleagues while protecting patient information.
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