Doximity (NASDAQ:DOCS) Rating Reiterated by Truist Financial

Doximity (NASDAQ:DOCS)‘s stock had its “hold” rating reissued by equities research analysts at Truist Financial in a research report issued on Wednesday, Benzinga reports. They currently have a $35.00 price target on the stock, up from their previous price target of $31.00. Truist Financial’s price target indicates a potential upside of 0.06% from the stock’s previous close.

A number of other brokerages have also recently commented on DOCS. Evercore ISI upped their price target on Doximity from $29.00 to $34.00 and gave the company an “in-line” rating in a research note on Friday, August 9th. Bank of America upped their price target on Doximity from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. Needham & Company LLC raised Doximity from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a research note on Friday, August 9th. William Blair reaffirmed an “outperform” rating on shares of Doximity in a research note on Friday, May 17th. Finally, Barclays upped their price target on Doximity from $31.00 to $35.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $30.18.

Doximity Price Performance

Shares of DOCS traded down $0.60 during trading hours on Wednesday, hitting $34.98. The stock had a trading volume of 364,963 shares, compared to its average volume of 1,736,186. The company’s fifty day moving average is $28.30 and its two-hundred day moving average is $27.39. Doximity has a 52 week low of $19.71 and a 52 week high of $37.25. The stock has a market capitalization of $6.49 billion, a price-to-earnings ratio of 48.74, a P/E/G ratio of 5.12 and a beta of 1.22.

Doximity (NASDAQ:DOCS) last issued its quarterly earnings results on Thursday, May 16th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.04. Doximity had a net margin of 31.04% and a return on equity of 17.44%. The business had revenue of $118.06 million for the quarter, compared to the consensus estimate of $116.46 million. Equities analysts predict that Doximity will post 0.74 EPS for the current fiscal year.

Insider Activity at Doximity

In other news, Director Watkin Phoebe L. Yang sold 1,940 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $28.22, for a total transaction of $54,746.80. Following the completion of the sale, the director now directly owns 12,269 shares of the company’s stock, valued at approximately $346,231.18. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Anna Bryson sold 30,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $35.00, for a total transaction of $1,050,000.00. Following the completion of the sale, the chief financial officer now directly owns 309,627 shares of the company’s stock, valued at approximately $10,836,945. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Watkin Phoebe L. Yang sold 1,940 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $28.22, for a total value of $54,746.80. Following the transaction, the director now owns 12,269 shares of the company’s stock, valued at approximately $346,231.18. The disclosure for this sale can be found here. In the last three months, insiders sold 81,951 shares of company stock valued at $2,574,843. 39.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. LRI Investments LLC bought a new stake in shares of Doximity during the 1st quarter valued at about $27,000. First Horizon Advisors Inc. raised its holdings in shares of Doximity by 111.3% during the 4th quarter. First Horizon Advisors Inc. now owns 995 shares of the company’s stock valued at $28,000 after buying an additional 524 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Doximity by 621.4% during the 2nd quarter. Blue Trust Inc. now owns 1,385 shares of the company’s stock valued at $37,000 after buying an additional 1,193 shares in the last quarter. GAMMA Investing LLC purchased a new position in shares of Doximity during the 4th quarter valued at about $40,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in Doximity in the 1st quarter worth approximately $46,000. Institutional investors own 87.19% of the company’s stock.

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.