Major Brokerage Firms Issue Research Notes on Doximity Inc. (DOCS)


Doximity Inc. (NYSE:DOCS) saw a downside of -2.01% to $32.22 after subtracting -$0.66 on Wednesday. The 5-day average trading volume is 965,967 shares of the company’s common stock. It has gained $34.02 in the past week and touched a new high 3 times within the past 5 days. An average of 1,027,517 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,786,161.

DOCS’s 1-month performance is -7.74% or -$2.00 on its low of $28.17 reached on 01/06/23. The company’s shares have touched a 52-week low of $22.91 and high of $64.95, with the stock’s rally to the 52-week high happening on 01/03/23. YTD, DOCS has lost -2.03% or -$1.38 and has reached a new high 1 time. However, the current price is down -50.39% from the 52-week high price.

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Insider Transactions

DOCS stock investors last saw insider trading activity on May 27.Wampler Kira Scherer (Director) most recently sold 2,200 shares at $39.88 per share on May 02. This transaction cost the insider $87,727. Director, Wampler Kira Scherer, sold 2,200 shares at a price of $53.10 on Apr 01. Then, on Mar 01, Director Wampler Kira Scherer sold 2,200 shares at a price of $60.73 per share. This transaction amounted to $133,614.

Valuation Metrics

Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 16.12 while the price-to-book (PB) in the most recent quarter is 7.23, with the price to cash flow ratio at 39.88.

Doximity Inc.’s quick ratio for the period ended September 29 was 7.20, with the current ratio over the same period at 7.20. In terms of profitability, the gross margin trailing 12 months is 87.20%. The firm’s gross profit as reported stood at $303.76 million against revenue of $343.55 million.

Earnings Surprise

For the quarterly period ending September 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income shrunk -37.22% to $26.3 million, while revenue of $22.38 million was 14.9% off the previous quarter. Analysts expected DOCS to announce $0.15 per share in earnings in its latest quarter, but it posted $0.17, representing a 13.30% surprise. EBITDA for the quarter stood at more than $37.98 million. DOCS stock balance sheet for the quarter ending September 29 shows that total liabilities totaled 149.38 million, with total debt at $15.64 million. Shareholders hold equity totaling $192.49 million.

Let’s look briefly at Doximity Inc. (DOCS) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 24 January was 46.31% to suggest the stock is trending Neutral, with historical volatility in this time period at 32.08%.

The stock’s 5-day moving average is $32.52, reflecting a +1.12% or $0.36 change from its current price. DOCS is currently trading -5.86% above its 20-day SMA, -3.03% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +22.24% and SMA200 by-36.86%.

Stochastic %K and %D was 76.57% and 72.88% and the average true range (ATR) pointed at 1.44. The RSI (14) points at 47.37%, while the 14-day stochastic is at 68.61% with the period’s ATR at 1.51. The stock’s 9-day MACD Oscillator is pointing at 0.44 and 0.81 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Doximity Inc. (NYSE: DOCS), Morgan Stanley downgraded it to an Underweight rating. They previously had an Equal-weight rating on the stock.

What is DOCS’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $27.00 and a high of $59.00, with their median price target at $40.00. Looking at these predictions, the average price target given by analysts is for Doximity Inc. (DOCS) stock is $39.50.


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