Doximity (NASDAQ:DOCS) Hits New 1-Year High at $37.28

Doximity, Inc. (NASDAQ:DOCS)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $37.28 and last traded at $37.25, with a volume of 326893 shares trading hands. The stock had previously closed at $36.52.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Bank of America lifted their price objective on shares of Doximity from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Needham & Company LLC raised Doximity from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research report on Friday, August 9th. Morgan Stanley raised their price objective on Doximity from $25.00 to $26.00 and gave the stock an “underweight” rating in a research report on Friday, August 9th. Wells Fargo & Company lowered shares of Doximity from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $27.00 to $19.00 in a research report on Thursday, July 18th. Finally, Barclays boosted their price objective on shares of Doximity from $31.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $31.27.

Doximity Stock Up 0.2 %

The company has a market cap of $6.81 billion, a price-to-earnings ratio of 51.04, a PEG ratio of 5.12 and a beta of 1.22. The business has a 50-day simple moving average of $30.25 and a two-hundred day simple moving average of $28.14.

Insider Activity at Doximity

In other Doximity news, CFO Anna Bryson sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $30.00, for a total transaction of $900,000.00. Following the completion of the sale, the chief financial officer now owns 288,685 shares of the company’s stock, valued at $8,660,550. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Timothy S. Cabral sold 10,000 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the completion of the sale, the director now owns 10,258 shares in the company, valued at approximately $307,740. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Anna Bryson sold 30,000 shares of Doximity stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $30.00, for a total value of $900,000.00. Following the completion of the transaction, the chief financial officer now directly owns 288,685 shares in the company, valued at $8,660,550. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 77,951 shares of company stock valued at $2,471,018. Corporate insiders own 39.40% of the company’s stock.

Institutional Investors Weigh In On Doximity

Several hedge funds and other institutional investors have recently modified their holdings of DOCS. Clearbridge Investments LLC raised its stake in Doximity by 7.1% during the 2nd quarter. Clearbridge Investments LLC now owns 5,853,035 shares of the company’s stock valued at $163,709,000 after purchasing an additional 387,200 shares during the last quarter. Quarry LP increased its holdings in shares of Doximity by 101.2% during the 2nd quarter. Quarry LP now owns 1,616 shares of the company’s stock worth $45,000 after purchasing an additional 131,253 shares during the period. Creative Planning raised its position in shares of Doximity by 20.1% during the second quarter. Creative Planning now owns 19,433 shares of the company’s stock valued at $544,000 after buying an additional 3,251 shares during the last quarter. Algert Global LLC lifted its stake in shares of Doximity by 229.5% in the second quarter. Algert Global LLC now owns 110,318 shares of the company’s stock valued at $3,086,000 after buying an additional 76,839 shares during the period. Finally, Scientech Research LLC acquired a new stake in Doximity during the second quarter worth about $296,000. 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.