Doximity (NASDAQ:DOCS) Issues Earnings Results

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

Doximity Stock Down 13.4%

Shares of NASDAQ DOCS traded down $8.39 during trading hours on Friday, reaching $54.20. 5,709,533 shares of the stock traded hands, compared to its average volume of 2,085,829. The company’s 50-day simple moving average is $69.27 and its two-hundred day simple moving average is $62.61. The company has a market capitalization of $10.15 billion, a P/E ratio of 54.20, a price-to-earnings-growth ratio of 4.10 and a beta of 1.36. Doximity has a 52-week low of $47.66 and a 52-week high of $85.21.

Wall Street Analyst Weigh In

Several research firms have weighed in on DOCS. Wells Fargo & Company upped their price objective on shares of Doximity from $55.00 to $62.00 and gave the stock an “equal weight” rating in a report on Monday, August 4th. KeyCorp upped their target price on Doximity from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Raymond James Financial set a $75.00 price target on Doximity in a report on Wednesday, September 10th. The Goldman Sachs Group set a $64.00 target price on Doximity and gave the company a “sell” rating in a research report on Wednesday, October 1st. Finally, Truist Financial increased their price target on shares of Doximity from $52.00 to $61.00 and gave the company a “hold” rating in a research report on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $69.84.

Insiders Place Their Bets

In other news, Director Timothy S. Cabral sold 20,000 shares of Doximity stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $75.00, for a total value of $1,500,000.00. Following the transaction, the director owned 3,221 shares in the company, valued at approximately $241,575. The trade was a 86.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kira Scherer Wampler sold 2,000 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $66.44, for a total value of $132,880.00. Following the sale, the director owned 19,839 shares of the company’s stock, valued at $1,318,103.16. This represents a 9.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 32,000 shares of company stock valued at $2,339,580. 31.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Doximity

Several large investors have recently added to or reduced their stakes in the stock. Holocene Advisors LP bought a new position in Doximity in the 2nd quarter worth about $44,983,000. Raymond James Financial Inc. grew its holdings 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 valued at $32,219,000 after buying an additional 330,442 shares during the last quarter. Orion Porfolio Solutions LLC increased its position in shares of Doximity by 434.7% during the second quarter. Orion Porfolio Solutions LLC now owns 109,865 shares of the company’s stock valued at $6,739,000 after acquiring an additional 89,318 shares in the last quarter. Lazard Asset Management LLC raised its holdings in Doximity by 53.1% in the 2nd quarter. Lazard Asset Management LLC now owns 237,851 shares of the company’s stock worth $14,588,000 after acquiring an additional 82,483 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Doximity by 33.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 255,529 shares of the company’s stock valued at $14,828,000 after acquiring an additional 63,873 shares in the last quarter. Institutional investors own 87.19% of the company’s stock.

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.