Recent Analysts’ Ratings Changes for Doximity (DOCS)

Posted by on Jun 3rd, 2022

Several analysts have recently updated their ratings and price targets for Doximity (NASDAQ: DOCS):

  • 5/25/2022 – Doximity was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Doximity Inc. provides digital platform for medical professionals. The company’s network members include physicians across all specialties and practice areas. It provide its verified clinical membership with digital tools built for medicine, enabling them to collaborate with colleagues, stay up to date with the latest medical news and research, manage their careers and conduct virtual patient visits. Doximity Inc. is based in SAN FRANCISCO. “
  • 5/24/2022 – Doximity was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $37.00 price target on the stock. According to Zacks, “Doximity Inc. provides digital platform for medical professionals. The company’s network members include physicians across all specialties and practice areas. It provide its verified clinical membership with digital tools built for medicine, enabling them to collaborate with colleagues, stay up to date with the latest medical news and research, manage their careers and conduct virtual patient visits. Doximity Inc. is based in SAN FRANCISCO. “
  • 5/18/2022 – Doximity had its price target lowered by analysts at Bank of America Co. from $55.00 to $36.00. They now have a “neutral” rating on the stock.
  • 5/18/2022 – Doximity was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Doximity Inc. provides digital platform for medical professionals. The company’s network members include physicians across all specialties and practice areas. It provide its verified clinical membership with digital tools built for medicine, enabling them to collaborate with colleagues, stay up to date with the latest medical news and research, manage their careers and conduct virtual patient visits. Doximity Inc. is based in SAN FRANCISCO. “
  • 5/18/2022 – Doximity had its price target lowered by analysts at Morgan Stanley from $55.00 to $35.00. They now have an “equal weight” rating on the stock.
  • 5/18/2022 – Doximity had its price target lowered by analysts at Jefferies Financial Group Inc. from $78.00 to $46.00. They now have a “buy” rating on the stock.
  • 5/18/2022 – Doximity had its price target lowered by analysts at Guggenheim from $70.00 to $52.00. They now have a “buy” rating on the stock.
  • 5/18/2022 – Doximity had its price target lowered by analysts at Needham & Company LLC from $70.00 to $45.00. They now have a “buy” rating on the stock.
  • 5/18/2022 – Doximity had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $72.00 to $56.00. They now have a “buy” rating on the stock.
  • 5/18/2022 – Doximity had its price target lowered by analysts at Piper Sandler from $81.00 to $44.00.
  • 5/18/2022 – Doximity had its price target lowered by analysts at Canaccord Genuity Group Inc. from $65.00 to $44.00.
  • 5/18/2022 – Doximity had its price target lowered by analysts at Raymond James from $60.00 to $40.00.
  • 5/18/2022 – Doximity had its price target lowered by analysts at Robert W. Baird from $68.00 to $45.00.
  • 5/9/2022 – Doximity was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Doximity Inc. provides digital platform for medical professionals. The company’s network members include physicians across all specialties and practice areas. It provide its verified clinical membership with digital tools built for medicine, enabling them to collaborate with colleagues, stay up to date with the latest medical news and research, manage their careers and conduct virtual patient visits. Doximity Inc. is based in SAN FRANCISCO. “
  • 5/2/2022 – Doximity was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Doximity Inc. provides digital platform for medical professionals. The company’s network members include physicians across all specialties and practice areas. It provide its verified clinical membership with digital tools built for medicine, enabling them to collaborate with colleagues, stay up to date with the latest medical news and research, manage their careers and conduct virtual patient visits. Doximity Inc. is based in SAN FRANCISCO. “
  • 4/22/2022 – Doximity was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Doximity Inc. provides digital platform for medical professionals. The company’s network members include physicians across all specialties and practice areas. It provide its verified clinical membership with digital tools built for medicine, enabling them to collaborate with colleagues, stay up to date with the latest medical news and research, manage their careers and conduct virtual patient visits. Doximity Inc. is based in SAN FRANCISCO. “
  • 4/12/2022 – Doximity was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Doximity Inc. provides digital platform for medical professionals. The company’s network members include physicians across all specialties and practice areas. It provide its verified clinical membership with digital tools built for medicine, enabling them to collaborate with colleagues, stay up to date with the latest medical news and research, manage their careers and conduct virtual patient visits. Doximity Inc. is based in SAN FRANCISCO. “
  • 4/6/2022 – Doximity is now covered by analysts at Guggenheim. They set a “buy” rating and a $70.00 price target on the stock.
  • 4/4/2022 – Doximity is now covered by analysts at Bank of America Co.. They set a “neutral” rating and a $55.00 price target on the stock.

DOCS opened at $37.35 on Friday. The company has a market cap of $7.15 billion and a price-to-earnings ratio of 54.13. The firm has a 50 day simple moving average of $41.88 and a 200 day simple moving average of $49.05. Doximity, Inc. has a fifty-two week low of $27.06 and a fifty-two week high of $107.79.

Doximity (NASDAQ:DOCS – Get Rating) last posted its quarterly earnings results on Tuesday, May 17th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.06. The business had revenue of $93.65 million during the quarter, compared to the consensus estimate of $90.17 million. Doximity had a net margin of 40.52% and a return on equity of 17.19%. The firm’s revenue for the quarter was up 40.4% on a year-over-year basis. As a group, equities analysts anticipate that Doximity, Inc. will post 0.56 earnings per share for the current fiscal year.

In other news, Director Kira Scherer Wampler sold 2,200 shares of the company’s stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $53.10, for a total value of $116,820.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Paul W. Jorgensen purchased 15,000 shares of Doximity stock in a transaction dated Friday, May 20th. The stock was bought at an average price of $32.19 per share, with a total value of $482,850.00. Following the acquisition, the executive now directly owns 197,676 shares of the company’s stock, valued at $6,363,190.44. The disclosure for this purchase can be found here.

A number of institutional investors and hedge funds have recently made changes to their positions in DOCS. Royal Bank of Canada acquired a new position in Doximity during the second quarter worth $87,000. Morgan Stanley acquired a new position in Doximity during the second quarter worth $59,066,000. BlackRock Inc. raised its position in Doximity by 80.8% during the third quarter. BlackRock Inc. now owns 1,355,993 shares of the company’s stock worth $109,430,000 after acquiring an additional 606,006 shares in the last quarter. US Bancorp DE bought a new stake in Doximity during the third quarter worth $26,000. Finally, Geode Capital Management LLC bought a new stake in Doximity during the third quarter worth $31,817,000. Institutional investors and hedge funds own 67.88% of the company’s stock.

Doximity, Inc operates a cloud-based digital platform for medical professionals in the United States. The company's cloud-based 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.

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