Guggenheim cut shares of Doximity (NASDAQ:DOCS – Free Report) from a buy rating to a neutral rating in a research note released on Wednesday, Marketbeat.com reports.
A number of other analysts have also commented on DOCS. Truist Financial dropped their price target on Doximity from $36.00 to $33.00 in a research note on Monday, June 5th. Piper Sandler cut Doximity from an overweight rating to a neutral rating and reduced their price objective for the stock from $38.00 to $36.00 in a research note on Thursday, August 3rd. Wells Fargo & Company cut Doximity from an overweight rating to an equal weight rating and reduced their price target for the company from $39.00 to $37.00 in a research report on Monday, May 1st. Finally, Evercore ISI dropped their price objective on Doximity from $33.00 to $32.00 in a report on Wednesday, May 17th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Doximity currently has an average rating of Hold and an average target price of $30.30.
Read Our Latest Research Report on DOCS
Doximity Price Performance
Doximity (NASDAQ:DOCS – Get Free Report) last released its quarterly earnings data on Tuesday, May 16th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.13 by $0.02. Doximity had a net margin of 27.20% and a return on equity of 13.11%. The business had revenue of $110.97 million for the quarter, compared to the consensus estimate of $110.11 million. As a group, equities analysts anticipate that Doximity will post 0.66 EPS for the current year.
Insider Activity
In related news, Director Timothy S. Cabral sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $35.00, for a total transaction of $262,500.00. Following the sale, the director now owns 4,714 shares of the company’s stock, valued at $164,990. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Timothy S. Cabral sold 7,500 shares of the stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $35.00, for a total value of $262,500.00. Following the completion of the sale, the director now owns 4,714 shares in the company, valued at $164,990. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy S. Cabral sold 10,000 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $33.80, for a total transaction of $338,000.00. Following the completion of the transaction, the director now directly owns 4,714 shares in the company, valued at $159,333.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,214 shares of company stock valued at $765,301. Insiders own 39.40% of the company’s stock.
Institutional Trading of Doximity
Hedge funds have recently modified their holdings of the company. James Investment Research Inc. bought a new position in shares of Doximity during the fourth quarter worth $27,000. Geneos Wealth Management Inc. bought a new stake in shares of Doximity during the 2nd quarter worth approximately $27,000. Quarry LP bought a new position in Doximity in the 1st quarter valued at approximately $38,000. American International Group Inc. bought a new position in Doximity in the 2nd quarter valued at approximately $43,000. Finally, HBK Sorce Advisory LLC increased its position in shares of Doximity by 100.0% during the fourth quarter. HBK Sorce Advisory LLC now owns 40,000 shares of the company’s stock worth $46,000 after buying an additional 20,000 shares during the period. Institutional investors and hedge funds own 52.17% of the company’s stock.
Doximity Company Profile
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.
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