Doximity, Inc. (NASDAQ:DOCS) Receives Average Rating of “Buy” from Analysts

Doximity, Inc. (NASDAQ:DOCSGet Rating) has received a consensus rating of “Buy” from the fifteen research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $50.00.

DOCS has been the subject of several analyst reports. Jefferies Financial Group decreased their price target on shares of Doximity from $78.00 to $46.00 and set a “buy” rating for the company in a research report on Wednesday. Canaccord Genuity Group decreased their price target on shares of Doximity from $65.00 to $44.00 in a research report on Wednesday. Piper Sandler cut their price objective on shares of Doximity from $81.00 to $44.00 in a report on Wednesday. Guggenheim cut their price objective on shares of Doximity from $70.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Morgan Stanley cut their price objective on shares of Doximity from $55.00 to $35.00 and set an “equal weight” rating on the stock in a report on Wednesday.

NASDAQ:DOCS opened at $31.56 on Friday. Doximity has a 1-year low of $27.06 and a 1-year high of $107.79. The company has a 50-day moving average of $44.48 and a 200 day moving average of $51.27. The firm has a market cap of $6.04 billion and a PE ratio of 45.74.

Doximity (NASDAQ:DOCSGet Rating) last released its quarterly earnings data on Tuesday, May 17th. The company reported $0.21 earnings per share 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 17.73%. The company had revenue of $93.65 million during the quarter, compared to analyst estimates of $90.17 million. Doximity’s revenue for the quarter was up 40.4% on a year-over-year basis. As a group, sell-side analysts predict that Doximity will post 0.6 EPS for the current fiscal year.

In other news, Director Kira Scherer Wampler sold 2,200 shares of the firm’s 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 legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gilbert H. Kliman sold 29,174 shares of the firm’s stock in a transaction that occurred on Wednesday, February 23rd. The stock was sold at an average price of $56.09, for a total transaction of $1,636,369.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,200 shares of company stock worth $1,801,924.

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Doximity by 81.2% during the 1st quarter. Vanguard Group Inc. now owns 7,501,908 shares of the company’s stock valued at $390,774,000 after buying an additional 3,362,575 shares in the last quarter. Allianz Asset Management GmbH lifted its position in shares of Doximity by 153.8% during the 1st quarter. Allianz Asset Management GmbH now owns 4,170,440 shares of the company’s stock valued at $217,238,000 after buying an additional 2,527,010 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of Doximity by 559.5% during the 1st quarter. Clearbridge Investments LLC now owns 2,682,876 shares of the company’s stock valued at $139,751,000 after buying an additional 2,276,056 shares in the last quarter. Echo Street Capital Management LLC lifted its holdings in Doximity by 34.9% in the 1st quarter. Echo Street Capital Management LLC now owns 2,458,587 shares of the company’s stock valued at $128,068,000 after purchasing an additional 635,481 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in Doximity by 141.3% in the 1st quarter. Invesco Ltd. now owns 2,410,842 shares of the company’s stock valued at $125,581,000 after purchasing an additional 1,411,849 shares in the last quarter. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Doximity Company Profile (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.

Further Reading

Analyst Recommendations for Doximity (NASDAQ:DOCS)

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