Doximity, Inc. (NASDAQ:DOCS) Given Consensus Recommendation of “Moderate Buy” by Analysts

Doximity, Inc. (NASDAQ:DOCS) has earned an average recommendation of “Moderate Buy” from the twenty-one analysts that are currently covering the firm, MarketBeat Ratings reports. Eleven investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $65.39.

DOCS has been the subject of a number of analyst reports. Piper Sandler upgraded Doximity from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $31.00 to $78.00 in a research report on Friday, February 7th. Morgan Stanley dropped their price target on shares of Doximity from $71.00 to $60.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Mizuho increased their price objective on shares of Doximity from $55.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. The Goldman Sachs Group boosted their target price on Doximity from $58.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Finally, Wells Fargo & Company reiterated an “equal weight” rating on shares of Doximity in a report on Friday, February 7th.

Insider Activity at Doximity

In other news, CFO Anna Bryson sold 45,000 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $57.23, for a total transaction of $2,575,350.00. Following the completion of the sale, the chief financial officer now owns 357,165 shares in the company, valued at approximately $20,440,552.95. This represents a 11.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kira Scherer Wampler sold 2,000 shares of the company’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $56.93, for a total value of $113,860.00. Following the transaction, the director now directly owns 16,618 shares in the company, valued at $946,062.74. This represents a 10.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 37.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Doximity

A number of institutional investors have recently bought and sold shares of DOCS. Vanguard Group Inc. boosted its position in Doximity by 4.5% in the fourth quarter. Vanguard Group Inc. now owns 11,203,569 shares of the company’s stock valued at $598,159,000 after buying an additional 485,102 shares during the last quarter. FMR LLC lifted its holdings in shares of Doximity by 37.6% in the 4th quarter. FMR LLC now owns 9,409,313 shares of the company’s stock valued at $502,363,000 after buying an additional 2,571,580 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Doximity by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 2,952,442 shares of the company’s stock valued at $157,668,000 after buying an additional 95,458 shares during the period. Loomis Sayles & Co. L P boosted its stake in shares of Doximity by 2.7% in the fourth quarter. Loomis Sayles & Co. L P now owns 2,334,597 shares of the company’s stock worth $124,644,000 after buying an additional 62,366 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Doximity by 9.8% during the fourth quarter. Renaissance Technologies LLC now owns 1,847,702 shares of the company’s stock worth $98,649,000 after acquiring an additional 164,200 shares during the period. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Doximity Price Performance

NASDAQ:DOCS opened at $59.38 on Thursday. The firm has a market capitalization of $11.09 billion, a price-to-earnings ratio of 59.38, a PEG ratio of 4.10 and a beta of 1.41. The business has a 50 day simple moving average of $58.83 and a 200-day simple moving average of $56.90. Doximity has a 1 year low of $22.96 and a 1 year high of $85.21.

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.