Doximity (NASDAQ:DOCS) Announces Quarterly Earnings, Beats Expectations with $0.06 EPS

VaselineAugust 10, 2024

0 3 minutes read

Doximity (NASDAQ:DOCS – Get Free Report ) released its quarterly earnings data on Thursday. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.16 by $0.06, it reports. The company had revenue of $126.68 million during the quarter, compared to analyst estimates of $119.88 million. Doximity had a return on equity of 17.44% and a net margin of 31.04%. Doximity updated its FY 2025 EPS guidance and Q2 2025 EPS guidance.

Doximity stock performance

Shares of DOCS traded up $9.94 during mid-day trading on Friday, reaching $35.60. 11,796,487 shares of the company’s stock were exchanged, compared to its average volume of 1,711,501. The stock’s 50-day moving average is $28.00 and its 200-day moving average is $27.35. Doximity has a fifty-two week low of $19.71 and a fifty-two week high of $35.79. The company has a market cap of $6.60 billion, a price-to-earnings ratio of 49.44, a P/E/G ratio of 5.12 and a beta of 1.22.

Analysts set new price targets

Several research analysts recently commented on the company. Bank of America boosted their price objective on Doximity from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday. Barclays boosted their price target on Doximity from $31.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday. William Blair reiterated an “outperform” rating on shares of Doximity in a research report on Friday, May 17th. Evercore ISI boosted their price objective on Doximity from $29.00 to $34.00 and gave the stock an “in-line” rating in a research note on Friday. Finally, Wells Fargo & Company cut Doximity from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $27.00 to $19.00 in a report on Thursday, July 18. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $29.64, according to MarketBeat.

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Insider activity at Doximity

In other Doximity news, CFO Anna Bryson sold 30,000 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $30.00, for a total value of $900,000.00. Following the completion of the transaction, the chief financial officer now owns 288,685 shares in the company, valued at $8,660,550. The transaction was disclosed in a legal filing with the SEC, which is accessible via this hyperlink. In other news, CFO Anna Bryson sold 30,000 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $30.00, for a total transaction of $900,000.00. Following the completion of the transaction, the chief financial officer now directly owns 288,685 shares of the company’s stock, valued at $8,660,550. The sale was disclosed in a filing with the SEC, which is accessible via this link. Also, Director Timothy S. Cabral sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $30.00, for a total transaction of $300,000.00. Following the sale, the director now owns 10,258 shares in the company, valued at $307,740. The disclosure for this sale can be found here. In the last quarter, insiders sold 81,951 shares of company stock worth $2,574,843. Corporate insiders own 39.40% of the company’s shares.

Hedge funds influence doxity

Institutional investors and hedge funds have recently modified their holdings of the company. First Horizon Advisors Inc. raised its holdings in Doximity by 111.3% during the 4th quarter. First Horizon Advisors Inc. now owns 995 shares of the company’s stock worth $28,000 after buying an additional 524 shares in the last quarter. LRI Investments LLC purchased a new position in Doximity in the first quarter valued at approximately $27,000. Blue Trust Inc. boosted its holdings in Doximity by 621.4% in the second quarter. Blue Trust Inc. now owns 1,385 shares of the company’s stock worth $37,000 after buying an additional 1,193 shares in the last quarter. GAMMA Investing LLC purchased a new position in shares of Doximity in the 4th quarter valued at $40,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Doximity in the first quarter valued at $46,000. Institutional investors and hedge funds own 87.19% of the company’s shares.

Doximity Company Profile

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Doximity, Inc operates a cloud-based digital platform for healthcare 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 current with the latest medical news and research, and manage their careers.