Doximity (NYSE:DOCS) Given “Overweight” Rating at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Doximity (NYSE:DOCS) in a research report released on Friday morning,Benzinga reports. Piper Sandler currently has a $47.00 price target on the stock, up from their previous price target of $42.00.

A number of other equities analysts have also recently issued reports on the stock. KeyCorp cut shares of Doximity from an “overweight” rating to a “sector weight” rating in a research note on Thursday, May 14th. Mizuho lowered their target price on shares of Doximity from $34.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, May 14th. BTIG Research lowered shares of Doximity from a “buy” rating to a “neutral” rating in a research report on Thursday, May 14th. BMO Capital Markets restated a “market perform” rating and set a $30.00 price target on shares of Doximity in a research note on Friday. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $18.00 price objective (down from $32.00) on shares of Doximity in a report on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $31.86.

Doximity Trading Up 32.4%

Shares of NYSE:DOCS opened at $27.35 on Friday. The firm has a market capitalization of $5.00 billion, a PE ratio of 32.18, a PEG ratio of 7.50 and a beta of 1.29. Doximity has a 1-year low of $17.15 and a 1-year high of $76.51. The business’s 50 day moving average is $21.28 and its 200-day moving average is $24.37.

Doximity (NYSE:DOCS) last issued its earnings results on Thursday, August 6th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.13. The business had revenue of $156.62 million during the quarter. Doximity had a return on equity of 17.65% and a net margin of 25.48%.The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 earnings per share. On average, sell-side analysts predict that Doximity will post 0.87 EPS for the current year.

Insider Buying and Selling

In other Doximity news, insider Siddharth Sitaram sold 2,444 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $20.41, for a total transaction of $49,882.04. Following the sale, the insider directly 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. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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. 31.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of DOCS. Handelsbanken Fonder AB boosted its holdings in shares of Doximity by 5.4% in the 2nd quarter. Handelsbanken Fonder AB now owns 39,300 shares of the company’s stock worth $815,000 after acquiring an additional 2,000 shares in the last quarter. Central Pacific Bank Trust Division increased its holdings in Doximity by 34.3% during the 2nd quarter. Central Pacific Bank Trust Division now owns 6,972 shares of the company’s stock valued at $145,000 after purchasing an additional 1,780 shares in the last quarter. Pacer Advisors Inc. raised its position in Doximity by 108.0% in the 1st quarter. Pacer Advisors Inc. now owns 908,938 shares of the company’s stock valued at $21,178,000 after purchasing an additional 471,972 shares during the last quarter. Empowered Funds LLC raised its position in Doximity by 163.5% in the 1st quarter. Empowered Funds LLC now owns 32,239 shares of the company’s stock valued at $751,000 after purchasing an additional 20,006 shares during the last quarter. Finally, Carmignac Gestion boosted its stake in Doximity by 127.8% in the first quarter. Carmignac Gestion now owns 4,311,997 shares of the company’s stock worth $100,480,000 after purchasing an additional 2,418,971 shares in the last quarter. Institutional investors own 87.19% of the company’s stock.

More Doximity News

Here are the key news stories impacting Doximity this week:

• Positive Sentiment: Doximity reported fiscal Q1 revenue of $156.6 million, up 7.3% year over year, and adjusted earnings of $0.29 per share. Revenue exceeded expectations, while the company’s profitability and 30.4% net margin remained notable. Doximity earnings report
• Positive Sentiment: Management raised fiscal 2027 revenue guidance to $671 million-$681 million, slightly above the analyst consensus of $670.4 million. The outlook reflects anticipated demand from pharmaceutical customers and continued adoption of Doximity’s AI capabilities. Doximity Q1 earnings and guidance
• Positive Sentiment: The CEO said Doximity’s clinical AI search generates roughly 10 times more revenue than it costs to operate, while AI-driven engagement is outperforming expectations. Investors view this as a potential source of future monetization that is not fully reflected in current forecasts. CNBC Doximity AI report
• Positive Sentiment: Analysts raised their targets: Piper Sandler maintained an overweight rating and lifted its target to $47 from $42, while JPMorgan raised its target to $31 from $26 but retained a neutral rating. Analyst target changes
• Neutral Sentiment: Doximity’s addition or reclassification within the Russell 1000 may broaden institutional visibility and affect index-related trading, but it does not directly change the company’s fundamentals. Russell 1000 reclassification
• Negative Sentiment: Adjusted earnings fell from $0.36 per share a year earlier, and some estimates showed a slight earnings miss. Higher AI investment is pressuring margins, while critics argue the rally may have moved ahead of near-term fundamentals and could reverse. Doximity rally analysis

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.