Doximity (NYSE:DOCS – Get Free Report) was downgraded by investment analysts at Freedom Capmkts from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks reports.
A number of other analysts have also recently issued reports on DOCS. Canaccord Genuity Group set a $36.00 price objective on shares of Doximity in a research note on Friday, August 7th. JPMorgan Chase & Co. lifted their target price on Doximity from $26.00 to $31.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. BTIG Research cut Doximity from a “buy” rating to a “neutral” rating in a report on Thursday, May 14th. Bank of America reissued an “underperform” rating and issued a $20.00 price target (down from $38.00) on shares of Doximity in a report on Monday, June 29th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Doximity in a report on Wednesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $32.18.
View Our Latest Stock Analysis on DOCS
Doximity Stock Performance
Shares of NYSE DOCS opened at $24.41 on Tuesday. The firm’s 50 day moving average price is $23.51 and its 200-day moving average price is $23.09. The company has a market cap of $4.35 billion, a PE ratio of 28.72, a P/E/G ratio of 20.61 and a beta of 1.25. Doximity has a 52-week low of $17.15 and a 52-week high of $76.51.
Doximity (NYSE:DOCS – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.13. The firm had revenue of $156.62 million for the quarter. Doximity had a net margin of 25.48% and a return on equity of 18.06%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.36 EPS. On average, analysts forecast that Doximity will post 0.74 earnings per share for the current fiscal year.
Insider Buying and Selling at Doximity
In related news, Director Kira Wampler sold 2,000 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $24.95, for a total value of $49,900.00. Following the completion of the transaction, the director directly owned 19,839 shares of the company’s stock, valued at approximately $494,983.05. This trade represents a 9.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Siddharth Sitaram sold 1,770 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $24.94, for a total transaction of $44,143.80. Following the sale, the chief accounting officer directly owned 97,004 shares in the company, valued at approximately $2,419,279.76. The trade was a 1.79% decrease in their position. The SEC filing for this sale provides additional information. 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 11,270 shares of company stock worth $387,369 in the last quarter. 31.80% of the stock is owned by corporate insiders.
Institutional Trading of Doximity
A number of large investors have recently made changes to their positions in DOCS. Northwestern Mutual Wealth Management Co. increased its position in shares of Doximity by 99.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 796 shares of the company’s stock valued at $35,000 after purchasing an additional 397 shares during the last quarter. Advisory Services Network LLC bought a new position in Doximity in the 3rd quarter worth about $111,000. Leonteq Securities AG purchased a new position in Doximity during the 4th quarter worth $78,000. Kestra Advisory Services LLC purchased a new position in shares of Doximity during the fourth quarter valued at $87,000. Finally, McMillan Office Inc. bought a new stake in shares of Doximity in the 4th quarter valued at about $95,000. 87.19% of the stock is currently owned by institutional investors.
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.
Featured Stories
- Five stocks we like better than Doximity
- Tesla’s Robotaxi Launch Wasn’t the Moment Investors Expected
- Despite Post-Earnings Drop, Wall Street Analysts Eye New Highs for Broadcom Stock
- Morgan Stanley Eyes Good Things Ahead for Meta After $18 Billion Legal Settlement
- Q3 Earnings Could Be the Catalyst the Market Has Been Waiting For
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Should You Invest $1,000 in Doximity Right Now?
Before you consider Doximity, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Doximity wasn’t on the list.
While Doximity currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
The AI boom is creating opportunities across semiconductors, cloud computing, enterprise software, infrastructure, cybersecurity, and automation.
Inside this report, you’ll find 10 companies positioned to benefit as artificial intelligence moves from hype to real-world deployment and becomes a core growth driver for corporate America.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
