Doximity (NYSE:DOCS) Stock Price Target Raised at Canaccord Genuity Group

Doximity (NYSE:DOCS) had its price objective raised by Canaccord Genuity Group from $36.00 to $40.00 in a research note published on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also commented on DOCS. Zacks Research upgraded shares of Doximity from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Raymond James Financial reissued an “outperform” rating and issued a $38.00 target price on shares of Doximity in a report on Friday, October 16th. Royal Bank Of Canada lifted their price target on shares of Doximity from $28.00 to $34.00 and gave the company an “outperform” rating in a report on Friday. Freedom Capital lowered shares of Doximity from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 8th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $41.00 target price on shares of Doximity in a research report on Friday. Eight analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $30.45.

Doximity Stock Down 2.0%

Shares of DOCS stock traded down $0.67 on Friday, reaching $32.51. The company’s stock had a trading volume of 4,293,042 shares, compared to its average volume of 2,863,822. The stock’s 50 day simple moving average is $29.09 and its 200-day simple moving average is $25.51. The company has a market capitalization of $5.79 billion, a P/E ratio of 45.15, a PEG ratio of 25.71 and a beta of 1.29. Doximity has a 12-month low of $17.15 and a 12-month high of $58.24.

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

Insiders Place Their Bets

In other news, 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 completion of the transaction, the chief accounting officer directly owned 101,432 shares of the company’s stock, valued at approximately $3,111,933.76. The trade was a 2.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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. Also, Director Phoebe Yang sold 1,290 shares of the firm’s stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $26.71, for a total transaction of $34,455.90. Following the transaction, the director directly owned 24,744 shares in the company, valued at $660,912.24. The trade was a 4.96% 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. Insiders have sold 13,750 shares of company stock worth $386,310 over the last three months. Company insiders own 31.80% of the company’s stock.

Institutional Trading of Doximity

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Carmignac Gestion raised its stake in shares of Doximity by 127.8% during 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 in the last quarter. Wellington Management Group LLP lifted its stake in 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 raised 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 valued at $71,292,000 after acquiring an additional 694,300 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Doximity by 31.8% during the first 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 last quarter. Finally, Bank of New York Mellon Corp raised its holdings in 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 purchasing an additional 4,271 shares during the last quarter. Institutional investors own 87.19% of the company’s stock.

Key Stories 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

Doximity Company Profile

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.