Doximity (NASDAQ:DOCS) Announces Earnings Results

Doximity (NASDAQ:DOCS) released its earnings results on Thursday. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.38 by $0.07, Briefing.com reports. Doximity had a net margin of 36.60% and a return on equity of 21.75%. Doximity’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.30 earnings per share. Doximity updated its FY 2026 guidance to EPS and its Q3 2026 guidance to EPS.

Doximity Stock Down 13.4%

Shares of Doximity stock traded down $8.39 on Friday, hitting $54.20. The company’s stock had a trading volume of 5,709,533 shares, compared to its average volume of 2,085,829. The company has a market capitalization of $10.15 billion, a P/E ratio of 54.20, a price-to-earnings-growth ratio of 4.10 and a beta of 1.36. Doximity has a 52-week low of $47.66 and a 52-week high of $85.21. The firm has a fifty day moving average price of $69.27 and a 200-day moving average price of $62.61.

Insiders Place Their Bets

In related news, Director Kira Scherer Wampler sold 2,000 shares of Doximity stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $66.44, for a total transaction of $132,880.00. Following the completion of the transaction, the director directly owned 19,839 shares in the company, valued at $1,318,103.16. The trade was a 9.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Regina M. Benjamin sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $70.50, for a total value of $352,500.00. Following the completion of the sale, the director directly owned 19,839 shares in the company, valued at approximately $1,398,649.50. The trade was a 20.13% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 32,000 shares of company stock worth $2,339,580. Insiders own 31.30% of the company’s stock.

Hedge Funds Weigh In On Doximity

Several institutional investors and hedge funds have recently bought and sold shares of DOCS. Focus Partners Wealth acquired a new position in shares of Doximity in the 1st quarter valued at $283,000. Teza Capital Management LLC purchased a new position in shares of Doximity in the 2nd quarter worth $313,000. NewEdge Advisors LLC boosted its holdings in Doximity by 613.7% in the first quarter. NewEdge Advisors LLC now owns 6,323 shares of the company’s stock valued at $367,000 after acquiring an additional 5,437 shares during the last quarter. Worldquant Millennium Advisors LLC purchased a new stake in Doximity during the second quarter valued at about $423,000. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in Doximity during the second quarter worth about $519,000. Institutional investors and hedge funds own 87.19% of the company’s stock.

Analyst Upgrades and Downgrades

DOCS has been the subject of several analyst reports. Piper Sandler increased their price target on shares of Doximity from $65.00 to $69.00 and gave the stock an “overweight” rating in a report on Monday, August 11th. Needham & Company LLC increased their target price on Doximity from $67.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $62.00 price target on shares of Doximity in a report on Friday, October 10th. Bank of America raised Doximity from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $75.00 to $82.00 in a report on Monday, October 27th. Finally, The Goldman Sachs Group set a $64.00 price objective on Doximity and gave the stock a “sell” rating in a research report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Doximity has a consensus rating of “Moderate Buy” and an average target price of $69.84.

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.