Doximity (NASDAQ:DOCS) Releases Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Doximity (NASDAQ:DOCS) announced its quarterly earnings results on Thursday. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.07, Briefing.com reports. Doximity had a return on equity of 21.75% and a net margin of 36.60%.Doximity’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.30 earnings per share. Doximity updated its FY 2026 guidance to EPS and its Q3 2026 guidance to EPS.

Doximity Price Performance

Shares of NASDAQ:DOCS traded down $8.39 during midday trading on Friday, hitting $54.20. The company had a trading volume of 5,709,533 shares, compared to its average volume of 2,085,829. Doximity has a twelve month low of $47.66 and a twelve month high of $85.21. The stock has a market cap of $10.15 billion, a price-to-earnings ratio of 54.20, a price-to-earnings-growth ratio of 4.10 and a beta of 1.36. The business’s 50-day simple moving average is $69.27 and its 200-day simple moving average is $62.61.

Insider Transactions at Doximity

In other Doximity news, Director Regina M. Benjamin sold 5,000 shares of Doximity stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $70.50, for a total transaction of $352,500.00. Following the completion of the sale, the director directly owned 19,839 shares in the company, valued at $1,398,649.50. This trade represents a 20.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy S. Cabral sold 20,000 shares of Doximity stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $75.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the director owned 3,221 shares of the company’s stock, valued at $241,575. This trade represents a 86.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 32,000 shares of company stock worth $2,339,580 in the last quarter. Company insiders own 31.30% of the company’s stock.

Institutional Trading of Doximity

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Holocene Advisors LP acquired a new position in shares of Doximity in the second quarter valued at approximately $44,983,000. Raymond James Financial Inc. increased its position in shares of Doximity by 169.6% during the second quarter. Raymond James Financial Inc. now owns 525,251 shares of the company’s stock worth $32,219,000 after acquiring an additional 330,442 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Doximity by 33.3% in the first quarter. Goldman Sachs Group Inc. now owns 255,529 shares of the company’s stock valued at $14,828,000 after purchasing an additional 63,873 shares during the period. Lazard Asset Management LLC boosted its holdings in Doximity by 53.1% in the second quarter. Lazard Asset Management LLC now owns 237,851 shares of the company’s stock valued at $14,588,000 after purchasing an additional 82,483 shares during the period. Finally, California Public Employees Retirement System grew its stake in Doximity by 3.4% during the 2nd quarter. California Public Employees Retirement System now owns 224,153 shares of the company’s stock worth $13,750,000 after purchasing an additional 7,382 shares in the last quarter. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on DOCS shares. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $62.00 price objective on shares of Doximity in a research report on Friday, October 10th. Bank of America upgraded Doximity from a “neutral” rating to a “buy” rating and increased their price target for the stock from $75.00 to $82.00 in a research report on Monday, October 27th. Evercore ISI dropped their price objective on Doximity from $81.00 to $70.00 and set an “outperform” rating on the stock in a report on Friday. Needham & Company LLC increased their target price on Doximity from $67.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Finally, Zacks Research lowered shares of Doximity from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Doximity has a consensus rating of “Moderate Buy” and a consensus price target 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.