Doximity, Inc. (NASDAQ:DOCS) Receives Average Recommendation of “Moderate Buy” from Analysts

Doximity, Inc. (NASDAQ:DOCS) has been given a consensus recommendation of “Moderate Buy” by the twenty-one brokerages that are presently covering the company, Marketbeat Ratings reports. Eleven research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $64.22.

A number of research firms have recently issued reports on DOCS. Wells Fargo & Company reissued an “equal weight” rating on shares of Doximity in a research note on Friday, February 7th. Needham & Company LLC boosted their target price on Doximity from $65.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Mizuho upped their price target on Doximity from $55.00 to $65.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Piper Sandler raised Doximity from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $31.00 to $78.00 in a research note on Friday, February 7th. Finally, Leerink Partnrs raised Doximity from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 7th.

Doximity Trading Down 1.9 %

Shares of DOCS opened at $61.27 on Wednesday. The company’s 50-day moving average price is $63.89 and its 200 day moving average price is $53.07. Doximity has a 12-month low of $22.96 and a 12-month high of $85.21. The firm has a market cap of $11.44 billion, a P/E ratio of 61.27, a price-to-earnings-growth ratio of 4.10 and a beta of 1.34.

Insider Activity at Doximity

In other Doximity news, Director Timothy S. Cabral sold 20,000 shares of Doximity stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $57.62, for a total transaction of $1,152,400.00. Following the completion of the sale, the director now directly owns 6,360 shares of the company’s stock, valued at $366,463.20. The trade was a 75.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 37.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Doximity

Several hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC raised its stake in Doximity by 37.6% during the 4th quarter. FMR LLC now owns 9,409,313 shares of the company’s stock worth $502,363,000 after acquiring an additional 2,571,580 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Doximity by 708.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,510,416 shares of the company’s stock worth $80,641,000 after purchasing an additional 1,323,634 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Doximity by 525.1% during the fourth quarter. Invesco Ltd. now owns 1,272,403 shares of the company’s stock worth $67,934,000 after purchasing an additional 1,068,849 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Doximity by 1,178.3% during the fourth quarter. Franklin Resources Inc. now owns 1,062,211 shares of the company’s stock worth $56,711,000 after purchasing an additional 979,113 shares in the last quarter. Finally, Fundsmith LLP purchased a new stake in shares of Doximity in the 4th quarter valued at about $37,934,000. Institutional investors and hedge funds own 87.19% of the company’s stock.

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.