Barclays Issues Positive Forecast for Doximity (NYSE:DOCS) Stock Price

Doximity (NYSE:DOCS) had its price objective hoisted by equities research analysts at Barclays from $27.00 to $30.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price objective would indicate a potential downside of 8.01% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Wolfe Research raised Doximity to an “outperform” rating in a report on Thursday, August 13th. Wells Fargo & Company downgraded Doximity from an “equal weight” rating to an “underweight” rating and set a $18.00 target price for the company. in a research note on Monday, August 10th. Raymond James Financial reissued an “outperform” rating and issued a $38.00 price target on shares of Doximity in a report on Friday, October 16th. Needham & Company LLC restated a “buy” rating and issued a $41.00 price target on shares of Doximity in a research note on Friday, November 6th. Finally, Royal Bank Of Canada lifted their price target on Doximity from $28.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, November 6th. Eight equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $30.59.

Doximity Trading Up 0.6%

Shares of Doximity stock traded up $0.19 on Wednesday, reaching $32.61. 133,931 shares of the stock were exchanged, compared to its average volume of 3,861,229. Doximity has a 1-year low of $17.15 and a 1-year high of $53.46. The business has a fifty day moving average price of $29.33 and a two-hundred day moving average price of $25.43. The firm has a market capitalization of $5.81 billion, a PE ratio of 45.03, a PEG ratio of 34.25 and a beta of 1.29.

Doximity (NYSE:DOCS) last posted its quarterly earnings results on Thursday, November 5th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.17. The firm had revenue of $174.54 million during the quarter. Doximity had a net margin of 21.12% and a return on equity of 15.80%. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.45 earnings per share. Research analysts expect that Doximity will post 0.74 EPS for the current year.

Insider Activity

In related news, Director Watkin Phoebe L. Yang sold 1,290 shares of the business’s stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $26.71, for a total value of $34,455.90. Following the completion of the sale, the director directly owned 24,744 shares in the company, valued at approximately $660,912.24. The trade was a 4.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Siddharth Sitaram sold 2,613 shares of the business’s stock in a transaction on Wednesday, October 14th. The shares were sold at an average price of $30.68, for a total transaction of $80,166.84. Following the sale, the chief accounting officer directly owned 101,432 shares of the company’s stock, valued at $3,111,933.76. This represents a 2.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 24,471 shares of company stock valued at $761,545 in the last 90 days. Company insiders own 31.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Doximity during the third quarter valued at about $45,000. Versant Capital Management Inc lifted its stake in shares of Doximity by 1,176.9% in the 3rd quarter. Versant Capital Management Inc now owns 1,826 shares of the company’s stock valued at $52,000 after purchasing an additional 1,683 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Doximity by 59.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the company’s stock valued at $53,000 after purchasing an additional 695 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of Doximity by 79.8% during the 3rd quarter. Bessemer Group Inc. now owns 1,910 shares of the company’s stock worth $54,000 after purchasing an additional 848 shares during the period. Finally, Fortitude Family Office LLC grew its holdings in shares of Doximity by 31,271.4% during the 3rd quarter. Fortitude Family Office LLC now owns 2,196 shares of the company’s stock worth $62,000 after purchasing an additional 2,189 shares during the period. Institutional investors and hedge funds own 87.19% of the company’s stock.

Key Headlines Impacting Doximity

Investors following DOCS have been watching these headlines:

• Positive Sentiment: A recent report highlighted that 16 of the 20 largest pharmaceutical companies had purchased Doximity AI search programs, while quarterly active workflow prescribers grew 34% year over year—potential signs of demand for its products. Doximity: 3 Key Takeaways for Long-Term Investors
• Neutral Sentiment: Director Timothy Cabral sold 10,721 shares for about $375,000. The sale was made under a pre-arranged Rule 10b5-1 plan, which may lessen its significance as a signal about the company’s outlook. Doximity insider sale
• Negative Sentiment: Multiple law firms reminded investors of a securities class action covering purchases from August 8, 2024, through May 13, 2026, with a November 16 lead-plaintiff deadline. The complaint alleges Doximity failed to disclose issues including market-share losses, slowing growth, and changes in pharmaceutical customers’ advertising strategies. The allegations are not findings, but the litigation may add uncertainty and reputational risk. Class action reminder

About Doximity

Doximity, Inc. operates a digital platform designed for medical professionals, including physicians and other clinicians. Its services support professional networking, medical news and research discovery, career development, and communication among healthcare professionals. The company also offers clinical workflow tools, including Doximity Dialer, which enables clinicians to make calls and conduct video visits using a work number, as well as digital fax and document services. Doximity provides marketing and recruitment solutions to healthcare organizations and life sciences companies.