Key Points
- Director Timothy Cabral sold 7,500 Doximity shares for $293,325 at an average price of $39.11 under a pre-arranged Rule 10b5-1 plan, reducing his direct holdings by nearly 70% to 3,221 shares.
- Doximity reported quarterly revenue of $156.62 million, up 7.3% year over year, and adjusted earnings of $0.29 per share, exceeding analyst expectations of $0.16.
- The stock opened at $26.04, while analysts maintained a generally cautious outlook: Doximity has an average “Hold” rating and an average price target of $31.86.
Doximity, Inc. (NYSE:DOCS - Get Free Report) Director Timothy Cabral sold 7,500 shares of the business's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $39.11, for a total transaction of $293,325.00. Following the transaction, the director directly owned 3,221 shares in the company, valued at approximately $125,973.31. The trade was a 69.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Doximity Trading Up 1.6%
Shares of DOCS opened at $26.04 on Wednesday. Doximity, Inc. has a 12-month low of $17.15 and a 12-month high of $76.51. The firm has a market capitalization of $4.76 billion, a P/E ratio of 30.63, a P/E/G ratio of 17.29 and a beta of 1.29. The firm has a 50-day moving average price of $21.43 and a 200 day moving average price of $24.04.
Doximity (NYSE:DOCS - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.29 EPS for the quarter, topping analysts' consensus estimates of $0.16 by $0.13. Doximity had a net margin of 25.48% and a return on equity of 18.06%. The company had revenue of $156.62 million for the quarter. During the same period last year, the firm earned $0.36 earnings per share. Doximity's revenue for the quarter was up 7.3% on a year-over-year basis. Equities research analysts predict that Doximity, Inc. will post 0.86 earnings per share for the current fiscal year.
Institutional Trading of Doximity
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Doximity by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 13,285,485 shares of the company's stock valued at $588,281,000 after acquiring an additional 518,916 shares in the last quarter. Carmignac Gestion boosted its stake in shares of Doximity by 127.8% in the first quarter. Carmignac Gestion now owns 4,311,997 shares of the company's stock valued at $100,480,000 after purchasing an additional 2,418,971 shares during the period. UBS Group AG boosted its stake in shares of Doximity by 26.5% in the fourth quarter. UBS Group AG now owns 680,260 shares of the company's stock valued at $30,122,000 after purchasing an additional 142,408 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Doximity by 325,436.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,298,891 shares of the company's stock valued at $57,515,000 after purchasing an additional 1,298,492 shares in the last quarter. Finally, Quantinno Capital Management LP increased its stake in Doximity by 420.5% during the 1st quarter. Quantinno Capital Management LP now owns 140,345 shares of the company's stock worth $3,270,000 after buying an additional 113,380 shares during the period. Hedge funds and other institutional investors own 87.19% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have issued reports on DOCS. Canaccord Genuity Group set a $36.00 target price on Doximity in a research note on Friday. Evercore set a $40.00 price target on Doximity in a research note on Friday. Truist Financial reiterated a "hold" rating and set a $19.00 price target (down from $29.00) on shares of Doximity in a report on Thursday, May 14th. Jefferies Financial Group downgraded Doximity from a "buy" rating to a "hold" rating and cut their price objective for the stock from $51.00 to $19.00 in a research report on Thursday, May 14th. Finally, BMO Capital Markets restated a "market perform" rating and issued a $30.00 price objective on shares of Doximity in a report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have issued a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $31.86.
Read Our Latest Report on Doximity
About Doximity
(
Get Free Report)
Doximity, trading as DOCS, operates a digital professional network and communications platform designed primarily for clinicians. Headquartered in San Francisco, the company connects physicians, nurse practitioners, physician assistants and other healthcare professionals, providing tools that streamline clinical communication, telehealth delivery and access to specialty-specific medical information. Its platform is positioned as a professional hub where clinicians manage their workflows, stay current with medical news and collaborate securely with peers.
The company’s offerings include secure messaging and video telehealth capabilities that enable clinicians to consult with patients and colleagues while protecting patient information.
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