Doximity, Inc. (NASDAQ:DOCS) Receives $50.00 Consensus Target Price from Brokerages

Shares of Doximity, Inc. (NASDAQ:DOCSGet Rating) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $50.00.

Several equities analysts have recently weighed in on DOCS shares. Raymond James reduced their target price on shares of Doximity from $60.00 to $40.00 in a research note on Wednesday, May 18th. Guggenheim reduced their target price on shares of Doximity from $70.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, May 18th. Morgan Stanley cut their price objective on shares of Doximity from $55.00 to $35.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 18th. Bank of America cut their price objective on shares of Doximity from $55.00 to $36.00 and set a “neutral” rating for the company in a research report on Wednesday, May 18th. Finally, Robert W. Baird cut their price objective on shares of Doximity from $68.00 to $45.00 in a research report on Wednesday, May 18th.

NASDAQ DOCS opened at $36.03 on Thursday. Doximity has a 52-week low of $27.06 and a 52-week high of $107.79. The company has a 50-day simple moving average of $37.40 and a 200 day simple moving average of $46.29. The company has a market capitalization of $6.96 billion and a PE ratio of 52.22.

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

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

Institutional investors and hedge funds have recently made changes to their positions in the company. Central Bank & Trust Co. lifted its holdings in shares of Doximity by 400.0% in the 1st quarter. Central Bank & Trust Co. now owns 500 shares of the company’s stock worth $26,000 after acquiring an additional 400 shares during the last quarter. Rockefeller Capital Management L.P. bought a new stake in shares of Doximity in the 3rd quarter worth approximately $27,000. Washington Trust Advisors Inc. bought a new stake in shares of Doximity in the 1st quarter worth approximately $28,000. Signaturefd LLC lifted its holdings in shares of Doximity by 460.0% in the 1st quarter. Signaturefd LLC now owns 728 shares of the company’s stock worth $38,000 after acquiring an additional 598 shares during the last quarter. Finally, New York State Common Retirement Fund bought a new stake in shares of Doximity in the 1st quarter worth approximately $45,000. Hedge funds and other 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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