Doximity (NYSE:DOCS) Given New $34.00 Price Target at Royal Bank Of Canada

Doximity (NYSE:DOCS) had its price objective raised by Royal Bank Of Canada from $28.00 to $34.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages have also issued reports on DOCS. BMO Capital Markets reissued a “market perform” rating and set a $30.00 target price on shares of Doximity in a research note on Friday, August 7th. Weiss Ratings raised Doximity from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, October 6th. Piper Sandler restated an “overweight” rating and issued a $47.00 target price (up from $42.00) on shares of Doximity in a research note on Friday, August 7th. Truist Financial lifted their price target on shares of Doximity from $19.00 to $24.00 and gave the company a “hold” rating in a report on Thursday, August 13th. Finally, Evercore set a $35.00 target price on Doximity in a report on Tuesday, September 29th. Eight equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $30.45.

Doximity Stock Down 2.0%

Shares of NYSE DOCS traded down $0.67 during mid-day trading on Friday, hitting $32.51. 4,293,042 shares of the company traded hands, compared to its average volume of 2,863,822. Doximity has a 1 year low of $17.15 and a 1 year high of $58.24. The stock has a market capitalization of $5.79 billion, a price-to-earnings ratio of 45.15, a PEG ratio of 25.71 and a beta of 1.29. The business has a 50 day moving average of $29.09 and a two-hundred day moving average of $25.51.

Doximity (NYSE:DOCS) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.13. Doximity had a return on equity of 18.06% and a net margin of 25.48%. The business had revenue of $156.62 million during the quarter. During the same quarter last year, the business earned $0.36 EPS. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, research analysts anticipate that Doximity will post 0.74 EPS for the current year.

Insider Activity at Doximity

In other news, Director Kira Wampler sold 2,000 shares of Doximity stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $32.89, for a total value of $65,780.00. Following the sale, the director directly owned 27,923 shares in the company, valued at $918,387.47. This trade represents a 6.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Siddharth Sitaram sold 2,613 shares of the business’s stock in a transaction dated Wednesday, October 14th. The stock was sold at an average price of $30.68, for a total transaction of $80,166.84. Following the sale, the chief accounting officer directly owned 101,432 shares in the company, valued at $3,111,933.76. This trade represents a 2.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 13,750 shares of company stock worth $386,310 in the last quarter. Corporate insiders own 31.80% of the company’s stock.

Institutional Trading of Doximity

Hedge funds have recently added to or reduced their stakes in the company. Carmignac Gestion grew its holdings in shares of Doximity by 127.8% during the 1st quarter. Carmignac Gestion now owns 4,311,997 shares of the company’s stock worth $100,480,000 after purchasing an additional 2,418,971 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Doximity by 24.7% during the second quarter. Wellington Management Group LLP now owns 3,135,113 shares of the company’s stock worth $65,022,000 after purchasing an additional 621,464 shares during the period. Renaissance Technologies LLC lifted its position in shares of Doximity by 29.4% in the 1st quarter. Renaissance Technologies LLC now owns 3,059,749 shares of the company’s stock worth $71,292,000 after purchasing an additional 694,300 shares during the period. Bank of America Corp DE lifted its stake in shares of Doximity by 31.8% in the 1st quarter. Bank of America Corp DE now owns 1,142,530 shares of the company’s stock valued at $26,621,000 after purchasing an additional 275,650 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Doximity by 0.4% during the 1st quarter. Bank of New York Mellon Corp now owns 1,040,534 shares of the company’s stock worth $24,244,000 after buying an additional 4,271 shares in the last quarter. 87.19% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Doximity

Here are the key news stories impacting Doximity this week:

• Positive Sentiment: Fiscal Q2 revenue was $174.5 million, ahead of the $170.8 million FactSet estimate, while adjusted earnings were $0.36 per share versus the $0.34 Zacks consensus. Revenue grew 3.6% year over year. Doximity beats Q2 earnings and revenue estimates
• Positive Sentiment: Management forecast fiscal Q3 revenue of $195–196 million and FY2027 revenue of $678–683 million, both above analysts’ estimates. The company also cited record engagement, more than 190 health systems purchasing its AI suite, and a 51% adjusted EBITDA margin. Doximity fiscal 2027 second-quarter results
• Positive Sentiment: Canaccord raised its price target to $40 with a Buy rating, RBC lifted its target to $34 and maintained Outperform, and Needham reaffirmed Buy with a $41 target. These revisions signal continued analyst support. Canaccord analyst recommendations
• Neutral Sentiment: AI products are expanding, but an earnings deep-dive framed that growth against margin-compression concerns. Investors may focus on whether AI-related investment can translate into durable revenue and profitability. AI-driven product expansion meets margin compression
• Negative Sentiment: Multiple law firms publicized a securities class action and the November 16 lead-plaintiff deadline for investors who bought shares between August 8, 2024 and May 13, 2026. The suit includes allegations concerning Newsfeed revenue and growth; these claims have not been established in court. The litigation adds uncertainty. Class-action lead plaintiff deadline notice

About Doximity

Doximity, Inc operates a digital platform designed for medical professionals in the United States. Its network connects physicians, nurse practitioners, physician assistants, pharmacists and other healthcare professionals, providing tools for professional communication, collaboration and career development.

The company offers services including secure messaging, telehealth, digital faxing, physician scheduling and professional networking. Doximity also provides medical news and educational content, as well as recruiting and job-search resources for healthcare professionals.

Doximity generates additional revenue through digital marketing and engagement solutions for pharmaceutical companies, healthcare organizations and health systems.