Doximity (NASDAQ:DOCS) Sets New 12-Month High at $37.72

Doximity, Inc. (NASDAQ:DOCS)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $37.72 and last traded at $37.19, with a volume of 209672 shares trading hands. The stock had previously closed at $36.83.

Analyst Upgrades and Downgrades

DOCS has been the topic of several analyst reports. Wells Fargo & Company lowered shares of Doximity from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $27.00 to $19.00 in a report on Thursday, July 18th. Truist Financial restated a “hold” rating and set a $35.00 target price (up from $31.00) on shares of Doximity in a research note on Wednesday, August 14th. Evercore ISI upped their target price on Doximity from $29.00 to $34.00 and gave the company an “in-line” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. raised their price target on Doximity from $27.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Finally, Needham & Company LLC upgraded shares of Doximity from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $31.27.

Doximity Stock Performance

The company has a market cap of $7.30 billion, a price-to-earnings ratio of 54.61, a P/E/G ratio of 5.15 and a beta of 1.27. The company’s fifty day moving average is $32.16 and its two-hundred day moving average is $28.67.

Doximity (NASDAQ:DOCS) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The firm had revenue of $126.68 million for the quarter, compared to analyst estimates of $119.88 million. Doximity had a net margin of 32.53% and a return on equity of 19.26%. On average, sell-side analysts anticipate that Doximity, Inc. will post 0.8 EPS for the current fiscal year.

Insider Activity

In related news, CFO Anna Bryson sold 30,000 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 309,627 shares of the company’s stock, valued at $10,836,945. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Anna Bryson sold 30,000 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $35.00, for a total transaction of $1,050,000.00. Following the sale, the chief financial officer now directly owns 309,627 shares of the company’s stock, valued at $10,836,945. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kira Scherer Wampler sold 2,500 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $28.00, for a total transaction of $70,000.00. Following the sale, the director now owns 10,258 shares in the company, valued at approximately $287,224. The disclosure for this sale can be found here. Insiders sold a total of 37,951 shares of company stock valued at $1,271,018 in the last quarter. 39.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Doximity

A number of large investors have recently bought and sold shares of DOCS. LRI Investments LLC purchased a new stake in shares of Doximity in the first quarter valued at approximately $27,000. Blue Trust Inc. grew its stake in Doximity by 621.4% in the 2nd quarter. Blue Trust Inc. now owns 1,385 shares of the company’s stock valued at $37,000 after acquiring an additional 1,193 shares during the period. Quarry LP increased its holdings in Doximity by 101.2% in the 2nd quarter. Quarry LP now owns 1,616 shares of the company’s stock worth $45,000 after acquiring an additional 131,253 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Doximity during the first quarter worth $46,000. Finally, First Horizon Advisors Inc. lifted its holdings in Doximity by 80.0% during the second quarter. First Horizon Advisors Inc. now owns 1,710 shares of the company’s stock valued at $48,000 after purchasing an additional 760 shares in the last quarter. Institutional investors and hedge funds 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.