Doximity, Inc. (NASDAQ:DOCS) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Doximity, Inc. (NASDAQ:DOCS) have been given a consensus rating of “Moderate Buy” by the twenty-one research firms that are presently covering the stock, MarketBeat.com reports. Eleven analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $64.22.

A number of research firms have recently commented on DOCS. Leerink Partnrs upgraded Doximity from a “hold” rating to a “strong-buy” rating in a report on Friday, February 7th. The Goldman Sachs Group raised their price target on shares of Doximity from $58.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Piper Sandler upgraded shares of Doximity from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $31.00 to $78.00 in a research note on Friday, February 7th. Bank of America increased their price objective on shares of Doximity from $54.00 to $57.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Doximity from $30.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, November 21st.

Doximity Trading Down 3.7 %

Shares of DOCS opened at $72.25 on Friday. The stock’s fifty day simple moving average is $60.19 and its 200 day simple moving average is $49.05. Doximity has a twelve month low of $22.96 and a twelve month high of $85.21. The firm has a market capitalization of $13.49 billion, a P/E ratio of 72.25, a price-to-earnings-growth ratio of 4.20 and a beta of 1.39.

Insider Activity

In related news, Director Timothy S. Cabral sold 20,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $57.62, for a total value of $1,152,400.00. Following the sale, the director now directly owns 6,360 shares of the company’s stock, valued at $366,463.20. This represents a 75.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 37.40% of the company’s stock.

Institutional Trading of Doximity

Several institutional investors have recently added to or reduced their stakes in DOCS. Sanctuary Advisors LLC acquired a new stake in Doximity in the second quarter valued at $270,000. Creative Planning raised its holdings in Doximity by 13.7% in the third quarter. Creative Planning now owns 22,104 shares of the company’s stock valued at $963,000 after acquiring an additional 2,671 shares in the last quarter. nVerses Capital LLC raised its holdings in Doximity by 67.5% in the third quarter. nVerses Capital LLC now owns 12,900 shares of the company’s stock valued at $562,000 after acquiring an additional 5,200 shares in the last quarter. Bleakley Financial Group LLC acquired a new stake in Doximity in the third quarter valued at $213,000. Finally, Trust Point Inc. raised its holdings in Doximity by 16.9% in the third quarter. Trust Point Inc. now owns 28,809 shares of the company’s stock valued at $1,255,000 after acquiring an additional 4,163 shares in 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.