Doximity (NASDAQ:DOCS) Reaches New 1-Year Low – Should You Sell?

Doximity, Inc. (NASDAQ:DOCS) shares reached a new 52-week low during trading on Saturday . The stock traded as low as $45.29 and last traded at $45.9260, with a volume of 6994938 shares traded. The stock had previously closed at $51.31.

Analyst Upgrades and Downgrades

DOCS has been the topic of a number of recent research reports. Bank of America raised Doximity from a “neutral” rating to a “buy” rating and raised their price objective for the company from $75.00 to $82.00 in a research report on Monday, October 27th. Piper Sandler increased their price target on shares of Doximity from $65.00 to $69.00 and gave the company an “overweight” rating in a research report on Monday, August 11th. Zacks Research downgraded shares of Doximity from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 20th. BMO Capital Markets assumed coverage on shares of Doximity in a research note on Thursday, November 13th. They set a “market perform” rating and a $55.00 price objective for the company. Finally, Evercore ISI decreased their target price on shares of Doximity from $81.00 to $70.00 and set an “outperform” rating for the company in a research report on Friday, November 7th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $68.22.

Doximity Trading Down 10.5%

The company’s 50-day moving average is $60.80 and its 200 day moving average is $61.72. The stock has a market capitalization of $8.65 billion, a PE ratio of 45.93, a price-to-earnings-growth ratio of 4.10 and a beta of 1.38.

Doximity (NASDAQ:DOCS) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.07. Doximity had a net margin of 36.60% and a return on equity of 21.75%. Doximity’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter last year, the business posted $0.30 EPS. Sell-side analysts forecast that Doximity, Inc. will post 0.99 EPS for the current fiscal year.

Insider Activity at Doximity

In other Doximity news, Director Kira Scherer Wampler sold 2,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $66.44, for a total transaction of $132,880.00. Following the sale, the director owned 19,839 shares in the company, valued at approximately $1,318,103.16. The trade was a 9.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Regina M. Benjamin sold 5,000 shares of the firm’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $70.50, for a total value of $352,500.00. Following the completion of the transaction, the director owned 19,839 shares of the company’s stock, valued at approximately $1,398,649.50. The trade was a 20.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 32,000 shares of company stock valued at $2,339,580 in the last ninety days. Company insiders own 31.30% of the company’s stock.

Hedge Funds Weigh In On Doximity

Institutional investors have recently made changes to their positions in the company. Jump Financial LLC purchased a new stake in shares of Doximity during the first quarter worth approximately $3,125,000. Hsbc Holdings PLC lifted its holdings in shares of Doximity by 752.1% in the 1st quarter. Hsbc Holdings PLC now owns 141,191 shares of the company’s stock worth $8,120,000 after acquiring an additional 124,622 shares during the last quarter. Strs Ohio acquired a new position in Doximity in the 1st quarter valued at about $665,000. Dynamic Technology Lab Private Ltd purchased a new stake in Doximity during the 1st quarter worth about $801,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Doximity in the 2nd quarter valued at about $1,628,000. 87.19% of the stock is owned by hedge funds and other 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.