Doximity, Inc. (NYSE:DOCS) Given Consensus Rating of “Hold” by Brokerages

Shares of Doximity, Inc. (NYSE:DOCS – Get Free Report) have been given a consensus rating of “Hold” by the twenty-five research firms that are covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation, seven have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $32.4286.

Several analysts recently commented on DOCS shares. Zacks Research raised shares of Doximity from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Truist Financial increased their price target on shares of Doximity from $19.00 to $24.00 and gave the company a “hold” rating in a report on Thursday, August 13th. JPMorgan Chase & Co. raised their price objective on shares of Doximity from $26.00 to $31.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Bank of America restated an “underperform” rating and set a $20.00 price objective (down from $38.00) on shares of Doximity in a report on Monday, June 29th. Finally, BTIG Research downgraded Doximity from a “buy” rating to a “neutral” rating in a research report on Thursday, May 14th.

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Insider Activity at Doximity

In related news, Director Timothy S. Cabral sold 7,500 shares of Doximity stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $39.11, for a total transaction of $293,325.00. Following the completion of the sale, the director directly owned 3,221 shares of the company’s stock, valued at approximately $125,973.31. This trade represents a 69.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Siddharth Sitaram sold 1,770 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $24.94, for a total value of $44,143.80. Following the completion of the sale, the chief accounting officer owned 97,004 shares of the company’s stock, valued at $2,419,279.76. This trade represents a 1.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 three months, insiders have sold 11,714 shares of company stock valued at $387,351. 31.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Doximity

A number of institutional investors have recently modified their holdings of DOCS. AlphaGrep UK Ltd bought a new position in Doximity during the second quarter worth about $676,000. Odyssean LLC bought a new stake in Doximity in the 2nd quarter valued at about $2,377,000. AXQ Capital LP boosted its holdings in Doximity by 1,354.5% in the 2nd quarter. AXQ Capital LP now owns 177,044 shares of the company’s stock valued at $3,672,000 after purchasing an additional 164,872 shares during the period. Continuum Advisory LLC acquired a new position in shares of Doximity during the 2nd quarter worth approximately $67,000. Finally, Nykredit A S acquired a new position in shares of Doximity during the 2nd quarter worth approximately $96,000. Institutional investors own 87.19% of the company’s stock.

Doximity Price Performance

Shares of Doximity stock opened at $25.23 on Friday. The business has a fifty day simple moving average of $22.22 and a two-hundred day simple moving average of $23.37. Doximity has a 1 year low of $17.15 and a 1 year high of $76.51. The company has a market capitalization of $4.50 billion, a price-to-earnings ratio of 29.68, a P/E/G ratio of 19.81 and a beta of 1.29.

Doximity (NYSE:DOCS – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.16 by $0.13. The firm had revenue of $156.62 million for the quarter. Doximity had a net margin of 25.48% and a return on equity of 18.06%. Doximity’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.36 earnings per share. As a group, equities analysts anticipate that Doximity will post 0.74 earnings per share for the current fiscal year.

Doximity Company Profile

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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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