Canaccord Genuity Group Issues Pessimistic Forecast for Doximity (NASDAQ:DOCS) Stock Price

Doximity (NASDAQ:DOCS) had its price objective reduced by equities researchers at Canaccord Genuity Group from $67.00 to $58.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “hold” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 10.13% from the company’s previous close.

Several other research firms have also weighed in on DOCS. Raymond James Financial set a $75.00 target price on shares of Doximity in a report on Wednesday, September 10th. Evercore ISI lowered their price objective on Doximity from $81.00 to $70.00 and set an “outperform” rating for the company in a research report on Friday. Bank of America raised Doximity from a “neutral” rating to a “buy” rating and raised their target price for the stock from $75.00 to $82.00 in a research note on Monday, October 27th. Truist Financial increased their price target on Doximity from $52.00 to $61.00 and gave the stock a “hold” rating in a report on Thursday, July 17th. Finally, Robert W. Baird raised their price objective on Doximity from $75.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Doximity currently has an average rating of “Moderate Buy” and an average price target of $69.37.

Doximity Trading Down 3.0%

DOCS traded down $1.63 on Monday, hitting $52.67. 1,908,410 shares of the company’s stock were exchanged, compared to its average volume of 2,082,728. Doximity has a fifty-two week low of $47.66 and a fifty-two week high of $85.21. The stock has a market cap of $9.86 billion, a price-to-earnings ratio of 52.67, a P/E/G ratio of 4.10 and a beta of 1.36. The firm has a 50-day moving average price of $69.27 and a 200-day moving average price of $62.74.

Doximity (NASDAQ:DOCS) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.07. Doximity had a return on equity of 21.75% and a net margin of 36.60%.The business’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.30 EPS. Doximity has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. On average, equities analysts predict that Doximity will post 0.99 EPS for the current year.

Insider Buying and Selling

In related news, Director Timothy S. Cabral sold 20,000 shares of the company’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 transaction of $1,500,000.00. Following the sale, the director directly owned 3,221 shares in the company, valued at approximately $241,575. This represents a 86.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Regina M. Benjamin sold 5,000 shares of the firm’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $70.50, for a total transaction of $352,500.00. Following the completion of the sale, the director owned 19,839 shares in the company, valued at $1,398,649.50. The trade was a 20.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 32,000 shares of company stock valued at $2,339,580 in the last three months. 31.30% of the stock is owned by corporate insiders.

Institutional Trading of Doximity

Several institutional investors and hedge funds have recently bought and sold shares of the business. Voya Investment Management LLC lifted its holdings in shares of Doximity by 932.8% during the third quarter. Voya Investment Management LLC now owns 1,567,668 shares of the company’s stock worth $114,267,000 after purchasing an additional 1,415,882 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Doximity by 130.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,966,801 shares of the company’s stock worth $114,133,000 after acquiring an additional 1,113,076 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Doximity by 53.9% in the second quarter. Franklin Resources Inc. now owns 3,162,593 shares of the company’s stock valued at $193,993,000 after acquiring an additional 1,108,162 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Doximity by 8.8% during the first quarter. Vanguard Group Inc. now owns 12,194,492 shares of the company’s stock worth $707,646,000 after acquiring an additional 990,923 shares during the period. Finally, Holocene Advisors LP purchased a new position in Doximity during the second quarter worth about $44,983,000. Hedge funds and other institutional investors own 87.19% of the company’s stock.

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.