Doximity (NASDAQ:DOCS) Upgraded at Bank of America

Bank of America upgraded shares of Doximity (NASDAQ:DOCS) from a neutral rating to a buy rating in a report published on Monday morning, MarketBeat reports. The brokerage currently has $82.00 target price on the stock, up from their prior target price of $75.00.

Other equities research analysts have also recently issued research reports about the company. Truist Financial increased their price target on Doximity from $52.00 to $61.00 and gave the company a “hold” rating in a research note on Thursday, July 17th. The Goldman Sachs Group set a $64.00 price objective on shares of Doximity and gave the company a “sell” rating in a research report on Wednesday, October 1st. Piper Sandler raised their target price on shares of Doximity from $65.00 to $69.00 and gave the stock an “overweight” rating in a research note on Monday, August 11th. Canaccord Genuity Group upped their price target on shares of Doximity from $59.00 to $67.00 and gave the company a “hold” rating in a research note on Thursday, September 18th. Finally, Robert W. Baird increased their price target on shares of Doximity from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Doximity has an average rating of “Moderate Buy” and an average price target of $70.42.

Doximity Price Performance

Doximity stock opened at $66.85 on Monday. The company’s 50-day moving average is $69.76 and its 200-day moving average is $62.14. The firm has a market capitalization of $12.52 billion, a PE ratio of 66.85, a P/E/G ratio of 4.10 and a beta of 1.38. Doximity has a fifty-two week low of $41.03 and a fifty-two week high of $85.21.

Doximity (NASDAQ:DOCS) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.05. Doximity had a return on equity of 21.75% and a net margin of 36.60%.Doximity’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.28 earnings per share. Doximity has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. As a group, analysts expect that Doximity will post 0.99 EPS for the current year.

Insiders Place Their Bets

In other news, Director Kira Scherer Wampler sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $57.09, for a total transaction of $114,180.00. Following the transaction, the director directly owned 16,618 shares of the company’s stock, valued at approximately $948,721.62. This trade represents a 10.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy S. Cabral sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $75.00, for a total value of $1,500,000.00. Following the completion of the sale, the director owned 3,221 shares of the company’s stock, valued at approximately $241,575. This trade represents a 86.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 37,000 shares of company stock worth $2,635,880 in the last quarter. Corporate insiders own 31.30% of the company’s stock.

Institutional Trading of Doximity

Large investors have recently modified their holdings of the stock. Ballentine Partners LLC acquired a new stake in shares of Doximity during the 1st quarter worth approximately $201,000. Wealth Enhancement Advisory Services LLC lifted its stake in Doximity by 196.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,570 shares of the company’s stock worth $787,000 after purchasing an additional 8,995 shares during the last quarter. Bank of Nova Scotia bought a new stake in Doximity during the first quarter worth $651,000. New York State Teachers Retirement System boosted its holdings in shares of Doximity by 10.9% in the 1st quarter. New York State Teachers Retirement System now owns 113,145 shares of the company’s stock valued at $6,566,000 after purchasing an additional 11,078 shares in the last quarter. Finally, Jump Financial LLC bought a new position in shares of Doximity in the 1st quarter valued at $3,125,000. 87.19% of the stock is owned by institutional investors and hedge funds.

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.