Doximity, Inc. (NYSE:DOCS) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Doximity, Inc. (NYSE:DOCS) have been given a consensus rating of “Hold” by the twenty-four brokerages that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $29.3333.

A number of research firms have recently weighed in on DOCS. Canaccord Genuity Group cut their price target on Doximity from $34.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, May 14th. Weiss Ratings cut Doximity from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 15th. KeyCorp downgraded shares of Doximity from an “overweight” rating to a “sector weight” rating in a research note on Thursday, May 14th. Morgan Stanley cut their target price on shares of Doximity from $49.00 to $35.00 and set an “overweight” rating for the company in a research note on Thursday, May 14th. Finally, Leerink Partners reduced their target price on shares of Doximity from $31.00 to $25.00 and set an “outperform” rating on the stock in a report on Thursday, May 14th.

Insider Buying and Selling

In related news, Director Kira Scherer Wampler sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $26.06, for a total transaction of $234,540.00. Following the sale, the director owned 19,839 shares in the company, valued at approximately $517,004.34. This trade represents a 31.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Siddharth Sitaram sold 2,444 shares of Doximity stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $20.41, for a total transaction of $49,882.04. Following the completion of the sale, the insider directly owned 90,706 shares of the company’s stock, valued at $1,851,309.46. The trade was a 2.62% 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. In the last three months, insiders sold 13,753 shares of company stock valued at $343,925. Company insiders own 31.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in DOCS. Northwestern Mutual Wealth Management Co. increased its stake in Doximity by 99.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 796 shares of the company’s stock valued at $35,000 after purchasing an additional 397 shares during the last quarter. Toth Financial Advisory Corp grew its holdings in Doximity by 100.0% in the 4th quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock valued at $44,000 after buying an additional 500 shares during the period. Advisory Services Network LLC acquired a new position in shares of Doximity during the 3rd quarter valued at about $111,000. Farther Finance Advisors LLC increased its stake in shares of Doximity by 35.7% during the 4th quarter. Farther Finance Advisors LLC now owns 1,539 shares of the company’s stock valued at $68,000 after acquiring an additional 405 shares during the last quarter. Finally, Leonteq Securities AG purchased a new position in shares of Doximity during the 4th quarter worth about $78,000. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Doximity Stock Performance

Shares of NYSE:DOCS opened at $21.48 on Wednesday. The business’s fifty day moving average price is $20.97 and its two-hundred day moving average price is $25.37. The stock has a market cap of $3.93 billion, a PE ratio of 21.70, a price-to-earnings-growth ratio of 6.31 and a beta of 1.30. Doximity has a one year low of $17.15 and a one year high of $76.51.

Doximity Company Profile

Doximity, trading as DOCS, operates a digital professional network and communications platform designed primarily for clinicians. Headquartered in San Francisco, the company connects physicians, nurse practitioners, physician assistants and other healthcare professionals, providing tools that streamline clinical communication, telehealth delivery and access to specialty-specific medical information. Its platform is positioned as a professional hub where clinicians manage their workflows, stay current with medical news and collaborate securely with peers.

The company’s offerings include secure messaging and video telehealth capabilities that enable clinicians to consult with patients and colleagues while protecting patient information.