Doximity (NASDAQ:DOCS) Hits New 1-Year High at $43.91

Doximity, Inc. (NASDAQ:DOCS)’s share price reached a new 52-week high on Monday . The stock traded as high as $43.91 and last traded at $43.88, with a volume of 148924 shares changing hands. The stock had previously closed at $42.90.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Canaccord Genuity Group raised 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 Doximity from $29.00 to $34.00 and gave the stock an “in-line” rating in a research report on Friday, August 9th. Needham & Company LLC raised Doximity from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research report on Friday, August 9th. Truist Financial reaffirmed a “hold” rating and set a $35.00 price target (up previously from $31.00) on shares of Doximity in a research report on Wednesday, August 14th. Finally, Bank of America lifted their price objective on shares of Doximity from $29.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $32.42.

Doximity Trading Up 1.6 %

The firm has a market capitalization of $8.08 billion, a price-to-earnings ratio of 59.58, a P/E/G ratio of 5.80 and a beta of 1.27. The company’s 50 day moving average is $34.82 and its 200-day moving average is $29.59.

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

Insider Transactions at Doximity

In related news, CFO Anna Bryson sold 30,000 shares of Doximity stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $35.00, for a total transaction of $1,050,000.00. Following the completion of the sale, the chief financial officer now directly owns 309,627 shares of the company’s stock, valued at approximately $10,836,945. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Doximity news, CFO Anna Bryson sold 30,000 shares of the 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 transaction, the chief financial officer now owns 309,627 shares in the company, valued at approximately $10,836,945. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Watkin Phoebe L. Yang sold 1,940 shares of Doximity stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $28.22, for a total transaction of $54,746.80. Following the completion of the sale, the director now owns 12,269 shares of the company’s stock, valued at $346,231.18. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,451 shares of company stock worth $1,201,018. 39.40% of the stock is owned by insiders.

Institutional Trading of Doximity

Several large investors have recently modified their holdings of the stock. Blair William & Co. IL increased its stake in shares of Doximity by 31.7% in the 1st quarter. Blair William & Co. IL now owns 90,600 shares of the company’s stock valued at $2,438,000 after purchasing an additional 21,787 shares during the last quarter. Pinebridge Investments L.P. bought a new position in shares of Doximity in the fourth quarter worth about $2,845,000. Federated Hermes Inc. grew its holdings in shares of Doximity by 1,824.5% during the 2nd quarter. Federated Hermes Inc. now owns 279,634 shares of the company’s stock valued at $7,821,000 after purchasing an additional 265,104 shares during the last quarter. Acadian Asset Management LLC increased its position in Doximity by 128.7% during the 1st quarter. Acadian Asset Management LLC now owns 96,442 shares of the company’s stock worth $2,590,000 after purchasing an additional 54,281 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in Doximity by 15,714.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 11,070 shares of the company’s stock valued at $310,000 after purchasing an additional 11,000 shares during the last quarter. 87.19% of the stock is owned by institutional investors and hedge funds.

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.