Doximity (NASDAQ:DOCS) Shares Gap Down Following Analyst Downgrade

Doximity, Inc. (NASDAQ:DOCS) shares gapped down before the market opened on Friday after Evercore ISI lowered their price target on the stock from $81.00 to $70.00. The stock had previously closed at $62.58, but opened at $56.54. Evercore ISI currently has an outperform rating on the stock. Doximity shares last traded at $57.2510, with a volume of 540,373 shares.

A number of other analysts also recently commented on DOCS. Zacks Research downgraded Doximity from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 20th. Truist Financial increased their price target on shares of Doximity from $52.00 to $61.00 and gave the company a “hold” rating in a research note on Thursday, July 17th. KeyCorp upped their price objective on Doximity from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Robert W. Baird boosted their price objective on shares of Doximity from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, September 11th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and set a $62.00 price target on shares of Doximity in a research report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Doximity presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.84.

Insiders Place Their Bets

In related news, Director Regina M. Benjamin sold 5,000 shares of the business’s stock in a transaction dated Friday, October 10th. The stock was sold at an average price of $70.84, for a total value of $354,200.00. Following the completion of the sale, the director directly owned 19,839 shares of the company’s stock, valued at $1,405,394.76. The trade was a 20.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kira Scherer Wampler sold 2,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $66.44, for a total transaction of $132,880.00. Following the completion of the sale, the director owned 19,839 shares in the company, valued at $1,318,103.16. This represents a 9.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 32,000 shares of company stock valued at $2,339,580 in the last ninety days. 31.30% of the stock is currently owned by insiders.

Institutional Trading of Doximity

Institutional investors have recently made changes to their positions in the company. Hantz Financial Services Inc. grew its holdings in shares of Doximity by 148.9% during the second quarter. Hantz Financial Services Inc. now owns 453 shares of the company’s stock worth $28,000 after purchasing an additional 271 shares in the last quarter. VSM Wealth Advisory LLC bought a new stake in Doximity in the 1st quarter worth approximately $29,000. Root Financial Partners LLC bought a new stake in shares of Doximity in the 3rd quarter worth approximately $30,000. Allworth Financial LP lifted its position in Doximity by 104.0% during the first quarter. Allworth Financial LP now owns 563 shares of the company’s stock valued at $32,000 after buying an additional 287 shares during the period. Finally, National Bank of Canada FI bought a new position in Doximity in the 1st quarter valued at approximately $33,000. Institutional investors own 87.19% of the company’s stock.

Doximity Stock Performance

The firm has a market cap of $10.27 billion, a PE ratio of 55.28, a price-to-earnings-growth ratio of 4.10 and a beta of 1.36. The stock has a 50-day simple moving average of $69.54 and a two-hundred day simple moving average of $62.59.

Doximity (NASDAQ:DOCS) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.07. Doximity had a net margin of 36.60% and a return on equity of 21.75%. The business’s revenue was up 23.2% on a year-over-year basis. During the same quarter last year, the company posted $0.30 earnings per share. Doximity has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, sell-side analysts anticipate that Doximity, Inc. will post 0.99 EPS for the current fiscal year.

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.