Doximity (NYSE:DOCS) Price Target Raised to $31.00 at JPMorgan Chase & Co.

Doximity (NYSE:DOCS) had its target price increased by JPMorgan Chase & Co. from $26.00 to $31.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other equities analysts have also recently issued reports on the stock. Weiss Ratings cut shares of Doximity from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 15th. Barclays restated an “equal weight” rating and set a $20.00 price target (down from $38.00) on shares of Doximity in a research report on Thursday, May 14th. KeyCorp cut shares of Doximity from an “overweight” rating to a “sector weight” rating in a report on Thursday, May 14th. The Goldman Sachs Group decreased their price objective on shares of Doximity from $28.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, May 14th. Finally, Citigroup lowered shares of Doximity to an “underperform” rating in a research note on Monday, June 29th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $31.86.

Doximity Trading Up 32.4%

Shares of DOCS stock opened at $27.35 on Friday. Doximity has a twelve month low of $17.15 and a twelve month high of $76.51. The stock has a market cap of $5.00 billion, a P/E ratio of 32.18, a P/E/G ratio of 7.50 and a beta of 1.29. The stock has a 50 day moving average of $21.28 and a 200 day moving average of $24.37.

Doximity (NYSE:DOCS) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.16 by $0.13. The business had revenue of $156.62 million for the quarter. Doximity had a return on equity of 17.65% and a net margin of 25.48%.The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.36 EPS. On average, research analysts predict that Doximity will post 0.87 earnings per share for the current fiscal year.

Insider Transactions at Doximity

In other Doximity news, insider Siddharth Sitaram sold 2,444 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $20.41, for a total transaction of $49,882.04. Following the transaction, the insider directly owned 90,706 shares of the company’s stock, valued at $1,851,309.46. This trade represents a 2.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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. 31.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Doximity by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 13,285,485 shares of the company’s stock worth $588,281,000 after buying an additional 518,916 shares in the last quarter. Capital World Investors lifted its position in shares of Doximity by 5.1% in the fourth quarter. Capital World Investors now owns 5,654,875 shares of the company’s stock valued at $250,398,000 after acquiring an additional 273,444 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 worth $100,480,000 after acquiring an additional 2,418,971 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Doximity by 29.4% in the first quarter. Renaissance Technologies LLC now owns 3,059,749 shares of the company’s stock worth $71,292,000 after acquiring an additional 694,300 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Doximity by 4.2% during the fourth quarter. Invesco Ltd. now owns 2,426,819 shares of the company’s stock worth $107,460,000 after purchasing an additional 98,519 shares in the last quarter. 87.19% of the stock is owned by hedge funds and other institutional investors.

Doximity News Summary

Here are the key news stories impacting Doximity this week:

• Positive Sentiment: Doximity reported fiscal Q1 revenue of $156.6 million, up 7.3% year over year, and adjusted earnings of $0.29 per share. Revenue exceeded expectations, while the company’s profitability and 30.4% net margin remained notable. Doximity earnings report
• Positive Sentiment: Management raised fiscal 2027 revenue guidance to $671 million-$681 million, slightly above the analyst consensus of $670.4 million. The outlook reflects anticipated demand from pharmaceutical customers and continued adoption of Doximity’s AI capabilities. Doximity Q1 earnings and guidance
• Positive Sentiment: The CEO said Doximity’s clinical AI search generates roughly 10 times more revenue than it costs to operate, while AI-driven engagement is outperforming expectations. Investors view this as a potential source of future monetization that is not fully reflected in current forecasts. CNBC Doximity AI report
• Positive Sentiment: Analysts raised their targets: Piper Sandler maintained an overweight rating and lifted its target to $47 from $42, while JPMorgan raised its target to $31 from $26 but retained a neutral rating. Analyst target changes
• Neutral Sentiment: Doximity’s addition or reclassification within the Russell 1000 may broaden institutional visibility and affect index-related trading, but it does not directly change the company’s fundamentals. Russell 1000 reclassification
• Negative Sentiment: Adjusted earnings fell from $0.36 per share a year earlier, and some estimates showed a slight earnings miss. Higher AI investment is pressuring margins, while critics argue the rally may have moved ahead of near-term fundamentals and could reverse. Doximity rally analysis

About Doximity

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.