Doximity, Inc. (NASDAQ:DOCS) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Doximity, Inc. (NASDAQ:DOCS) have been given a consensus recommendation of “Hold” by the fifteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $28.00.

Several research firms have recently commented on DOCS. Evercore ISI upped 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. Wells Fargo & Company downgraded Doximity from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $27.00 to $19.00 in a research report on Thursday, July 18th. Needham & Company LLC reiterated a “hold” rating on shares of Doximity in a research report on Friday, May 17th. Morgan Stanley reiterated an “underweight” rating and set a $25.00 price objective on shares of Doximity in a research report on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. upgraded Doximity from an “underweight” rating to a “neutral” rating and set a $25.00 target price for the company in a research report on Thursday, April 25th.

Doximity Trading Down 3.7 %

NASDAQ:DOCS opened at $25.99 on Tuesday. The firm has a market capitalization of $4.82 billion, a PE ratio of 36.10, a price-to-earnings-growth ratio of 5.12 and a beta of 1.22. The stock has a 50 day moving average of $28.00 and a 200-day moving average of $27.38. Doximity has a 52 week low of $19.71 and a 52 week high of $34.56.

Doximity (NASDAQ:DOCS) last posted its earnings results on Thursday, May 16th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.16 by $0.04. The company had revenue of $118.06 million during the quarter, compared to analyst estimates of $116.46 million. Doximity had a return on equity of 17.44% and a net margin of 31.04%. As a group, analysts predict that Doximity will post 0.74 EPS for the current fiscal year.

Insider Buying and Selling at Doximity

In other Doximity news, Director Kira Scherer Wampler sold 2,500 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $27.22, for a total transaction of $68,050.00. Following the sale, the director now directly owns 10,258 shares of the company’s stock, valued at approximately $279,222.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Craig Overpeck sold 1,500 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $23.85, for a total value of $35,775.00. Following the transaction, the insider now directly owns 108,609 shares of the company’s stock, valued at $2,590,324.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kira Scherer Wampler sold 2,500 shares of the company’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $27.22, for a total transaction of $68,050.00. Following the completion of the transaction, the director now directly owns 10,258 shares in the company, valued at $279,222.76. The disclosure for this sale can be found here. Insiders have sold a total of 50,940 shares of company stock valued at $1,499,022 in the last three months. 39.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Doximity

Hedge funds have recently modified their holdings of the stock. First Horizon Advisors Inc. increased its stake in shares of Doximity by 111.3% in the fourth quarter. First Horizon Advisors Inc. now owns 995 shares of the company’s stock worth $28,000 after acquiring an additional 524 shares during the last quarter. LRI Investments LLC acquired a new position in Doximity during the first quarter worth $27,000. Blue Trust Inc. increased its position in Doximity by 621.4% during the second quarter. Blue Trust Inc. now owns 1,385 shares of the company’s stock worth $37,000 after buying an additional 1,193 shares during the last quarter. GAMMA Investing LLC acquired a new position in Doximity during the fourth quarter worth $40,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in Doximity during the first quarter worth $46,000. 87.19% of the stock is owned by institutional investors and hedge funds.

About Doximity

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.