Brokerages Set Doximity, Inc. (NASDAQ:DOCS) Target Price at $28.82

Doximity, Inc. (NASDAQ:DOCS) has received a consensus recommendation of “Hold” from the fourteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $28.82.

A number of research firms have commented on DOCS. Truist Financial raised their target price on shares of Doximity from $28.00 to $29.00 and gave the stock a “hold” rating in a research note on Friday, February 9th. Evercore ISI reiterated an “in-line” rating and set a $30.00 price objective on shares of Doximity in a research report on Tuesday, April 2nd. SVB Leerink started coverage on shares of Doximity in a research report on Monday, February 26th. They set a “market perform” rating and a $32.00 price objective on the stock. Barclays started coverage on shares of Doximity in a research report on Wednesday, January 3rd. They set an “equal weight” rating and a $31.00 price objective on the stock. Finally, JPMorgan Chase & Co. upgraded shares of Doximity from an “underweight” rating to a “neutral” rating and set a $25.00 price objective on the stock in a research report on Thursday.

Doximity Stock Down 1.4 %

Shares of NASDAQ:DOCS opened at $23.59 on Friday. Doximity has a twelve month low of $19.71 and a twelve month high of $36.92. The stock has a market capitalization of $4.40 billion, a PE ratio of 35.74, a price-to-earnings-growth ratio of 3.09 and a beta of 1.17. The firm’s 50 day moving average price is $27.08 and its 200-day moving average price is $26.17.

Doximity (NASDAQ:DOCS) last released its earnings results on Thursday, February 8th. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.06. Doximity had a net margin of 29.39% and a return on equity of 16.08%. The company had revenue of $135.28 million for the quarter, compared to analysts’ expectations of $127.46 million. Analysts expect that Doximity will post 0.72 earnings per share for the current fiscal year.

Insider Activity at Doximity

In related news, Director Kira Scherer Wampler sold 2,500 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $26.97, for a total value of $67,425.00. Following the completion of the transaction, the director now directly owns 10,258 shares of the company’s stock, valued at $276,658.26. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 39.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Doximity by 5.9% during the third quarter. Vanguard Group Inc. now owns 11,038,475 shares of the company’s stock worth $234,236,000 after buying an additional 616,157 shares during the period. Baillie Gifford & Co. boosted its stake in Doximity by 0.9% during the third quarter. Baillie Gifford & Co. now owns 6,656,242 shares of the company’s stock worth $141,245,000 after buying an additional 57,078 shares during the period. Edmond DE Rothschild Holding S.A. boosted its stake in Doximity by 15.1% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 2,302,240 shares of the company’s stock worth $64,555,000 after buying an additional 301,290 shares during the period. Norges Bank purchased a new position in Doximity during the fourth quarter worth $35,995,000. Finally, Bank of New York Mellon Corp boosted its stake in Doximity by 9.6% during the third quarter. Bank of New York Mellon Corp now owns 1,229,750 shares of the company’s stock worth $26,095,000 after buying an additional 107,776 shares during the period. 87.19% of the stock is owned by hedge funds and other institutional investors.

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.