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

Doximity, Inc. (NASDAQ:DOCS) has been given an average rating of “Moderate Buy” by the twenty-one ratings firms that are covering the firm, MarketBeat Ratings reports. Eleven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $64.22.

A number of research analysts have weighed in on the stock. Raymond James reaffirmed an “outperform” rating and issued a $83.00 price objective (up previously from $65.00) on shares of Doximity in a report on Friday, February 7th. Piper Sandler upgraded Doximity from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $31.00 to $78.00 in a research note on Friday, February 7th. The Goldman Sachs Group increased their price target on Doximity from $58.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Bank of America boosted their price objective on Doximity from $54.00 to $57.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Finally, Mizuho increased their target price on Doximity from $55.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, February 10th.

Doximity Price Performance

NASDAQ:DOCS opened at $61.27 on Wednesday. The company has a 50 day moving average price of $63.89 and a 200-day moving average price of $53.07. Doximity has a 1-year low of $22.96 and a 1-year high of $85.21. The firm has a market cap of $11.44 billion, a price-to-earnings ratio of 61.27, a price-to-earnings-growth ratio of 4.10 and a beta of 1.34.

Insider Transactions at Doximity

In related news, Director Timothy S. Cabral sold 20,000 shares of Doximity stock in a transaction that occurred on 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 transaction, the director now owns 6,360 shares in the company, valued at approximately $366,463.20. This trade represents a 75.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 37.40% of the company’s stock.

Institutional Trading of Doximity

Large investors have recently added to or reduced their stakes in the stock. Shaker Investments LLC OH acquired a new position in shares of Doximity during the 4th quarter valued at about $559,000. Penserra Capital Management LLC acquired a new position in Doximity in the 3rd quarter valued at about $2,384,000. Principal Financial Group Inc. boosted its holdings in Doximity by 1.5% in the 4th quarter. Principal Financial Group Inc. now owns 293,974 shares of the company’s stock valued at $15,695,000 after purchasing an additional 4,282 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in shares of Doximity in the 4th quarter valued at approximately $362,000. Finally, Stratos Wealth Partners LTD. acquired a new stake in shares of Doximity during the 4th quarter worth approximately $203,000. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

About Doximity

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.