Doximity, Inc. (NYSE:DOCS) Receives $29.33 Average PT from Analysts

Shares of Doximity, Inc. (NYSE:DOCS) have received an average rating of “Hold” from the twenty-four ratings firms that are presently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation, six have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $29.3333.

A number of equities research analysts recently weighed in on the company. Evercore cut Doximity from an “outperform” rating to an “in-line” rating and set a $25.00 price objective for the company. in a research note on Wednesday, April 8th. JPMorgan Chase & Co. lowered their target price on Doximity from $33.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, May 14th. Morgan Stanley dropped their target price on Doximity from $49.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, May 14th. Robert W. Baird reiterated a “neutral” rating and issued a $18.00 target price (down from $40.00) on shares of Doximity in a research report on Thursday, May 14th. Finally, BMO Capital Markets dropped their price objective on shares of Doximity from $25.00 to $20.00 and set a “market perform” rating for the company in a research note on Thursday, May 14th.

Insider Buying and Selling at Doximity

In other Doximity news, Director Kira Scherer Wampler sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $26.06, for a total value of $234,540.00. Following the completion of the transaction, the director owned 19,839 shares of the company’s stock, valued at $517,004.34. This trade represents a 31.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Siddharth Sitaram sold 2,444 shares of the firm’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $20.41, for a total transaction of $49,882.04. Following the completion of the sale, the insider owned 90,706 shares in the company, valued at $1,851,309.46. The trade was a 2.62% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 13,753 shares of company stock worth $343,925 in the last quarter. Company insiders own 31.30% of the company’s stock.

Institutional Trading of Doximity

Hedge funds have recently made changes to their positions in the company. Carmignac Gestion grew its position in Doximity by 127.8% during the first quarter. Carmignac Gestion now owns 4,311,997 shares of the company’s stock worth $100,480,000 after buying an additional 2,418,971 shares during the period. SG Americas Securities LLC raised its holdings in shares of Doximity by 3,403.2% in the first quarter. SG Americas Securities LLC now owns 1,408,597 shares of the company’s stock worth $32,820,000 after acquiring an additional 1,368,388 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Doximity by 325,436.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,298,891 shares of the company’s stock valued at $57,515,000 after purchasing an additional 1,298,492 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of Doximity by 3,422.7% during the fourth quarter. Federated Hermes Inc. now owns 1,249,085 shares of the company’s stock valued at $55,309,000 after buying an additional 1,213,627 shares during the period. Finally, Capital World Investors boosted its holdings in shares of Doximity by 25.7% during the third quarter. Capital World Investors now owns 5,381,431 shares of the company’s stock worth $393,652,000 after purchasing an additional 1,101,848 shares during the last quarter. Institutional investors and hedge funds own 87.19% of the company’s stock.

Doximity Trading Down 1.1%

NYSE:DOCS traded down $0.24 during midday trading on Friday, hitting $21.77. 1,493,938 shares of the company traded hands, compared to its average volume of 3,280,250. The firm has a market capitalization of $3.98 billion, a P/E ratio of 21.99, a P/E/G ratio of 6.84 and a beta of 1.30. Doximity has a 12-month low of $17.15 and a 12-month high of $76.51. The firm’s fifty day moving average is $21.43 and its 200-day moving average is $27.45.

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.