Its Stock Has Paid Off Big Time For Doximity Inc.

Doximity Inc. (NYSE: DOCS) stock fell -2.26% on Tuesday to $32.88 against a previous-day closing price of $33.64. With 1.07 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.93 million shares. During the session, the Health Information Services company that operates in wider Healthcare sector, reached to the highest price of $33.61 whereas the lowest price it dropped to was $32.69. The 52-week range on DOCS shows that it touched its highest point at $64.95 and its lowest point at $22.91 during that stretch. It currently has a 1-year price target of $39.73.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of DOCS was up-trending over the past week, with a rise of 2.08%, but this was down by -7.74% over a month. Three-month performance surged to 31.41% while six-month performance fell -20.87%. The stock lost -24.24% in the past year, while it has lost -2.03% so far this year. A look at the trailing 12-month EPS for DOCS yields 0.66 with Next year EPS estimates of 0.79. For the next quarter, that number is 0.18. This implies an EPS growth rate of 476.70% for this year and 14.64% for next year.

Float and Shares Shorts:

At present, 193.14 million DOCS shares are outstanding with a float of 110.76 million shares on hand for trading. On Oct 13, 2022, short shares totaled 17.76 million, which was 9.18% higher than short shares on Sep 14, 2022. In addition to Mr. Jeffrey A. Tangney as the firm’s Co-Founder, CEO & Chairperson, Ms. Anna Bryson serves as its Chief Financial Officer.

Institutional Ownership:

Through their ownership of 90.46% of DOCS’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 9.77% of DOCS, in contrast to 64.90% held by mutual funds. Shares owned by individuals account for 27.92%. As the largest shareholder in DOCS with 13.37% of the stake, Morgan Stanley Investment Managem holds 15,182,060 shares worth 15,182,060. A second-largest stockholder of DOCS, The Vanguard Group, Inc., holds 8,589,977 shares, controlling over 7.57% of the firm’s shares. Fidelity Management & Research Co is the third largest shareholder in DOCS, holding 6,220,680 shares or 5.48% stake. With a 2.59% stake in DOCS, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 2,936,329 shares are owned by the mutual fund manager. The Morgan Stanley Instl. Fund-Growth, which owns about 2.46% of DOCS stock, is the second-largest Mutual Fund holder. It holds 2,793,751 shares valued at 93.76 million. Catalyst Eventide Gilead Fund holds 2.37% of the stake in DOCS, owning 2,695,109 shares worth 90.45 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for DOCS since 17 analysts follow the stock currently. There are 9 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 4 believe that the stock is worth HOLDING, 2 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With DOCS analysts setting a high price target of $59.00 and a low target of $27.00, the average target price over the next 12 months is $39.50. Based on these targets, DOCS could surge 79.44% to reach the target high and fall by -17.88% to reach the target low. Reaching the average price target will result in a growth of 20.13% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. DOCS will report FY 2023 earnings on 05/17/2023. Analysts have provided yearly estimates in a range of $0.73 being high and $0.66 being low. For DOCS, this leads to a yearly average estimate of $0.69. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Doximity Inc. surprised analysts by $0.02 when it reported $0.17 EPS against a consensus estimate of $0.15. The surprise factor in the prior quarter was $0.04. Based on analyst estimates, the high estimate for the next quarter is $0.20 and the low estimate is $0.16. The average estimate for the next quarter is thus $0.18.

Summary of Insider Activity:

Insiders traded DOCS stock several times over the past three months with 0 Buys and 1 Sells. In these transactions, 0 shares were bought while 1,152 shares were sold. The number of buy transactions has increased to 18 while that of sell transactions has risen to 20 over the past year. The total number of shares bought during that period was 5,910,599 while 5,840,970 shares were sold.

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