Brokerages Set Doximity, Inc. (NASDAQ:DOCS) Price Target at $32.42

Doximity, Inc. (NASDAQ:DOCS) has received an average rating of “Hold” from the fifteen research firms that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $32.42.

Several equities analysts have recently commented on DOCS shares. Truist Financial restated a “hold” rating and issued a $35.00 price objective (up from $31.00) on shares of Doximity in a report on Wednesday, August 14th. Canaccord Genuity Group upped their price objective on shares of Doximity from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Evercore ISI upped their price objective on shares of Doximity from $29.00 to $34.00 and gave the stock an “in-line” rating in a report on Friday, August 9th. JPMorgan Chase & Co. upped their price objective on shares of Doximity from $27.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Finally, Wells Fargo & Company lowered shares of Doximity from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $27.00 to $19.00 in a report on Thursday, July 18th.

Doximity Trading Down 0.3 %

NASDAQ DOCS opened at $41.37 on Wednesday. The stock has a fifty day simple moving average of $33.97 and a 200-day simple moving average of $29.28. The stock has a market cap of $7.67 billion, a PE ratio of 57.46, a P/E/G ratio of 5.15 and a beta of 1.27. Doximity has a twelve month low of $19.71 and a twelve month high of $41.87.

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

Insiders Place Their Bets

In other Doximity news, CFO Anna Bryson sold 30,000 shares of the firm’s stock in a transaction that occurred on 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. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Watkin Phoebe L. Yang sold 1,940 shares of Doximity stock in a transaction on Monday, July 29th. The shares were sold at an average price of $28.22, for a total value of $54,746.80. Following the transaction, the director now directly owns 12,269 shares of the company’s stock, valued at approximately $346,231.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Anna Bryson sold 30,000 shares of Doximity stock in a transaction on 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 completion of the transaction, the chief financial officer now directly owns 309,627 shares in the company, valued at $10,836,945. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,951 shares of company stock valued at $1,271,018. 39.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Doximity

Institutional investors have recently bought and sold shares of the company. LRI Investments LLC acquired a new position in Doximity in the 1st quarter valued at $27,000. Blue Trust Inc. increased its stake in Doximity by 621.4% in the 2nd quarter. Blue Trust Inc. now owns 1,385 shares of the company’s stock valued at $37,000 after buying an additional 1,193 shares during the period. Quarry LP increased its stake in Doximity by 101.2% in the 2nd quarter. Quarry LP now owns 1,616 shares of the company’s stock valued at $45,000 after buying an additional 131,253 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in Doximity in the 1st quarter valued at $46,000. Finally, First Horizon Advisors Inc. boosted its position in shares of Doximity by 80.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,710 shares of the company’s stock worth $48,000 after purchasing an additional 760 shares in the last quarter. 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.