Doximity Inc. (NYSE:DOCS) finished Wednesday with an addition of $0.54 to close at $23.91, an upside of 2.31 percent. An average of 2,124,400 shares of common stock have been traded in the last five days. There was a gain of $1.53 in the past week, and it reached a new high 6 times over the past 12 months. The last 20 days have seen an average of 2,892,685 shares traded, while the 50-day average volume stands at 2,406,534.
DOCS stock has decreased by -28.33% in the last month. The company shares reached their 1-month lowest point of $21.85 on 08/18/23. With the stock rallying to its 52-week high on 02/02/23, shares of the company touched a low of $21.85 and a high of $40.12 in 52 weeks. It has reached a new high 4 times so far this year and lost -28.75% or -$9.65 in price. In spite of this, the price is down -40.40% from the 52-week high.
Insider Transactions
DOCS stock investors should be aware that Doximity Inc. (DOCS) stock had its last reported insider trading activity 27 days ago on Jul 28. In this transaction, the insider spent $164,787. Director, Cabral Timothy S, disposed of 7,500 shares at a price of $35.00 on Jul 12. The insider now owns more than $262,500 worth of shares. Prior to that, Director Cabral Timothy S went on to Sale 10,000 shares at $33.80 each on Jul 03. An amount of $338,050 was transacted.
Valuation Metrics
Doximity Inc. (DOCS) has a trailing price-to-earnings (P/E) ratio of 42.77. The stock’s beta is 1.11. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 10.60, the price-to-book (PB) ratio at 4.70, and the price-to-cash flow ratio at 24.84.
Financial Health
The quick ratio of Doximity Inc. for the three months ended June 29 was 7.50, and the current ratio was 7.50, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.00 for the quarter ending June 29. Doximity Inc.’s EBITDA margin for the year ending June 29 is 32.97%, while its operating margin for the same period stands at 30.50%. Its gross profit as reported stood at $365.56 million compared to revenue of $419.05 million.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Doximity Inc.’s return on assets was 10.80%.
Earnings Surprise
In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $28.41 million in the quarter, while revenues were grew 21.22%. The analyst consensus anticipated Doximity Inc.’s latest quarter earnings to come in at $0.15 per share, but it turned out to be $0.19, a 26.70% surprise. For the quarter, EBITDA amounted to $34.66 million. Shareholders own equity worth $194.71 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Doximity Inc. (DOCS) price momentum. RSI 9-day as of the close on 23 August was 31.92%, suggesting the stock is Neutral, with historical volatility in this time frame at 38.41%.
As of today, DOCS’s price is $22.96 +6.84% or $1.53 from its 5-day moving average. DOCS is currently trading -30.21% lower than its 20-day SMA and -23.29% lower than its 100-day SMA. However, the stock’s current price level is -26.84% below the SMA50 and -6.42% below the SMA200.
The stochastic %K and %D were 12.61% and 8.56%, respectively, and the average true range (ATR) was 1.17. With the 14-day stochastic at 16.21% and the average true range at 1.23, the RSI (14) stands at 30.84%. The stock has reached 0.47 on the 9-day MACD Oscillator while the 14-day reading was at -2.12.
Analyst Ratings
Needham downgraded Doximity Inc. (NYSE: DOCS) to a a Hold rating in its most recent analyst report. Previously, the stock was rated as a Buy. The consensus rating for Doximity Inc. (DOCS) among analysts is Hold. According to current brokerage recommendations, 2 brokerage firms advise that investors sell DOCS, while 8 suggest investors hold. There are 1 analyst who rate the stock as underweight. The stock is rated overweight by 2 analysts, while 4 others rate it as a “buy”.
What is DOCS’s price target for the next 12 months?
Analysts predict a range of price targets between $21.00 and $47.00, with a median target of $27.50. Taking a look at these predictions, the average price target given by analysts for Doximity Inc. (DOCS) stock is $30.25.
