Doximity, Inc. (NYSE:DOCS) Receives $29.33 Consensus Target Price from Brokerages

Shares of Doximity, Inc. (NYSE:DOCS) have earned an average recommendation of “Hold” from the twenty-four ratings firms that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, thirteen have assigned a hold recommendation, six have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $29.3333.

A number of research analysts recently issued reports on DOCS shares. Truist Financial reaffirmed a “hold” rating and set a $19.00 target price (down from $29.00) on shares of Doximity in a report on Thursday, May 14th. Robert W. Baird reiterated a “neutral” rating and issued a $18.00 price target (down from $40.00) on shares of Doximity in a research report on Thursday, May 14th. Weiss Ratings downgraded shares of Doximity from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 15th. Zacks Research upgraded shares of Doximity from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Finally, Needham & Company LLC lowered their price objective on shares of Doximity from $55.00 to $27.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th.

Insider Buying and Selling at Doximity

In related news, insider Siddharth Sitaram sold 2,444 shares of Doximity stock in a transaction on Monday, June 8th. The stock was sold at an average price of $20.41, for a total value of $49,882.04. Following the transaction, the insider directly owned 90,706 shares in the company, valued at $1,851,309.46. The trade was a 2.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kira Scherer Wampler sold 9,000 shares of the business’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $26.06, for a total value of $234,540.00. Following the sale, the director directly owned 19,839 shares in the company, valued at $517,004.34. This trade represents a 31.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 13,753 shares of company stock worth $343,925 in the last ninety days. 31.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Doximity

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. raised its holdings in Doximity by 99.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 796 shares of the company’s stock worth $35,000 after buying an additional 397 shares during the period. Toth Financial Advisory Corp boosted its holdings in shares of Doximity by 100.0% in the fourth quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock worth $44,000 after buying an additional 500 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Doximity by 111.0% in the first quarter. Parallel Advisors LLC now owns 2,560 shares of the company’s stock worth $60,000 after buying an additional 1,347 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Doximity by 937.7% in the first quarter. EverSource Wealth Advisors LLC now owns 2,833 shares of the company’s stock worth $66,000 after acquiring an additional 2,560 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of Doximity by 35.7% in the fourth quarter. Farther Finance Advisors LLC now owns 1,539 shares of the company’s stock worth $68,000 after acquiring an additional 405 shares in the last quarter. Institutional investors and hedge funds own 87.19% of the company’s stock.

Doximity Stock Performance

DOCS opened at $21.90 on Wednesday. The company has a market capitalization of $4.00 billion, a PE ratio of 22.12, a P/E/G ratio of 7.86 and a beta of 1.29. The stock’s fifty day moving average is $21.14 and its 200-day moving average is $24.63. Doximity has a one year low of $17.15 and a one year high of $76.51.

Doximity Company Profile

Doximity, trading as DOCS, operates a digital professional network and communications platform designed primarily for clinicians. Headquartered in San Francisco, the company connects physicians, nurse practitioners, physician assistants and other healthcare professionals, providing tools that streamline clinical communication, telehealth delivery and access to specialty-specific medical information. Its platform is positioned as a professional hub where clinicians manage their workflows, stay current with medical news and collaborate securely with peers.

The company’s offerings include secure messaging and video telehealth capabilities that enable clinicians to consult with patients and colleagues while protecting patient information.