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

Shares of Doximity, Inc. (NASDAQ:DOCS) have earned a consensus recommendation of “Hold” from the fifteen analysts that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $36.42.

A number of equities analysts have weighed in on DOCS shares. Truist Financial reaffirmed a “hold” rating and set a $35.00 target price (up previously from $31.00) on shares of Doximity in a research note on Wednesday, August 14th. Needham & Company LLC upgraded Doximity from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research note on Friday, August 9th. Barclays upgraded Doximity from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $35.00 to $52.00 in a research note on Tuesday, October 15th. Morgan Stanley increased their target price on Doximity from $26.00 to $33.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their price target on shares of Doximity from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th.

Doximity Trading Up 1.0 %

DOCS opened at $42.34 on Thursday. The company has a market cap of $7.86 billion, a price-to-earnings ratio of 52.93, a price-to-earnings-growth ratio of 5.09 and a beta of 1.30. The stock has a fifty day simple moving average of $40.87 and a two-hundred day simple moving average of $32.67. Doximity has a 12-month low of $20.28 and a 12-month high of $44.88.

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

Insiders Place Their Bets

In other news, CFO Anna Bryson sold 30,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $35.00, for a total transaction of $1,050,000.00. Following the sale, the chief financial officer now owns 309,627 shares of the company’s stock, valued at $10,836,945. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 37.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Doximity

Hedge funds and other institutional investors have recently modified their holdings of the company. Natixis Advisors LLC grew its holdings in shares of Doximity by 43.5% in the third quarter. Natixis Advisors LLC now owns 31,815 shares of the company’s stock worth $1,386,000 after acquiring an additional 9,644 shares during the period. KBC Group NV boosted its position in Doximity by 22.9% in the third quarter. KBC Group NV now owns 3,296 shares of the company’s stock worth $144,000 after purchasing an additional 614 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of Doximity by 139.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 35,635 shares of the company’s stock valued at $1,553,000 after purchasing an additional 20,740 shares during the period. Fountainhead AM LLC purchased a new stake in shares of Doximity during the 3rd quarter valued at about $710,000. Finally, Los Angeles Capital Management LLC lifted its stake in shares of Doximity by 6,242.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 650,874 shares of the company’s stock worth $28,359,000 after purchasing an additional 640,612 shares during the period. 87.19% of the stock is owned by institutional investors.

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.