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

Shares of Doximity, Inc. (NYSE:DOCS) have received a consensus recommendation of “Hold” from the twenty-four research firms that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $29.3333.

DOCS has been the topic of several research reports. Weiss Ratings lowered Doximity from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 15th. Canaccord Genuity Group lowered their price target on Doximity from $34.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. Jefferies Financial Group lowered Doximity from a “buy” rating to a “hold” rating and dropped their price target for the stock from $51.00 to $19.00 in a research note on Thursday, May 14th. Morgan Stanley cut their price objective on Doximity from $49.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, May 14th. Finally, Zacks Research upgraded Doximity from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th.

Insider Activity at Doximity

In other Doximity news, Director Kira Scherer Wampler sold 9,000 shares of Doximity 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 transaction, the director directly owned 19,839 shares of the company’s stock, valued at $517,004.34. The trade was a 31.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible 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 the business’s 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 sale, the insider owned 90,706 shares of the company’s stock, valued at approximately $1,851,309.46. This represents 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. Insiders sold 13,753 shares of company stock worth $343,925 in the last 90 days. 31.80% of the stock is currently owned by insiders.

Institutional Trading of Doximity

Large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its position in shares of Doximity by 24.2% in the first quarter. Royal Bank of Canada now owns 106,845 shares of the company’s stock worth $6,200,000 after buying an additional 20,847 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Doximity by 0.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,978 shares of the company’s stock valued at $2,262,000 after buying an additional 210 shares during the period. NewEdge Advisors LLC raised its holdings in shares of Doximity by 613.7% during the 1st quarter. NewEdge Advisors LLC now owns 6,323 shares of the company’s stock valued at $367,000 after buying an additional 5,437 shares during the period. Goldman Sachs Group Inc. lifted its position in Doximity by 33.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 255,529 shares of the company’s stock worth $14,828,000 after acquiring an additional 63,873 shares in the last quarter. Finally, Focus Partners Wealth acquired a new position in Doximity during the 1st quarter worth approximately $283,000. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Doximity Stock Up 2.3%

Shares of DOCS opened at $21.48 on Wednesday. Doximity has a fifty-two week low of $17.15 and a fifty-two week high of $76.51. The company’s fifty day moving average is $20.97 and its two-hundred day moving average is $25.37. The firm 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.

About Doximity

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.