Doximity, Inc. (NASDAQ:DOCS) Receives $65.74 Consensus Price Target from Brokerages

Doximity, Inc. (NASDAQ:DOCS) has received an average recommendation of “Moderate Buy” from the twenty-one research firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $65.7368.

DOCS has been the subject of a number of analyst reports. Royal Bank Of Canada started coverage on Doximity in a report on Thursday, January 8th. They issued an “outperform” rating and a $59.00 price target for the company. Bank of America upgraded Doximity from a “neutral” rating to a “buy” rating and raised their target price for the stock from $75.00 to $82.00 in a research note on Monday, October 27th. Evercore ISI reiterated an “outperform” rating on shares of Doximity in a research report on Thursday, January 8th. Canaccord Genuity Group set a $48.00 price target on shares of Doximity in a report on Thursday, January 8th. Finally, BMO Capital Markets initiated coverage on shares of Doximity in a research note on Thursday, November 13th. They set a “market perform” rating and a $55.00 price objective for the company.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in DOCS. Synergy Asset Management LLC raised its position in Doximity by 100.0% in the 3rd quarter. Synergy Asset Management LLC now owns 604,502 shares of the company’s stock worth $44,219,000 after purchasing an additional 302,251 shares during the period. Liontrust Investment Partners LLP grew its stake in shares of Doximity by 1,189.9% during the second quarter. Liontrust Investment Partners LLP now owns 272,065 shares of the company’s stock valued at $16,688,000 after buying an additional 250,973 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Doximity by 335.9% during the third quarter. SG Americas Securities LLC now owns 52,993 shares of the company’s stock valued at $3,876,000 after buying an additional 40,837 shares during the last quarter. Aubrey Capital Management Ltd purchased a new position in shares of Doximity in the third quarter worth about $4,572,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Doximity in the 2nd quarter valued at about $1,628,000. Institutional investors own 87.19% of the company’s stock.

Doximity Stock Down 0.5%

Shares of NASDAQ:DOCS opened at $37.28 on Friday. The firm has a market capitalization of $7.02 billion, a PE ratio of 37.28, a P/E/G ratio of 4.10 and a beta of 1.39. The company has a 50-day moving average price of $44.16 and a two-hundred day moving average price of $57.42. Doximity has a twelve month low of $36.83 and a twelve month high of $85.21.

Doximity (NASDAQ:DOCS) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.07. Doximity had a net margin of 36.60% and a return on equity of 21.75%. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.30 EPS. Analysts anticipate that Doximity will post 0.99 earnings per share for the current fiscal year.

Doximity Company Profile

Doximity, Inc, headquartered in San Francisco, California, operates the leading professional medical network for healthcare professionals in the United States. Founded in 2011 by Jeff Tangney and Shari Buck, the company set out to create a secure digital environment where physicians, nurse practitioners and physician assistants can collaborate, share information and stay current with clinical news. Doximity went public in June 2021 and trades on the NASDAQ under the ticker symbol “DOCS.”

The core offering of Doximity is its HIPAA-compliant communication platform, which includes a secure messaging system, digital fax services and telehealth capabilities.