For Doximity Inc. [DOCS], Analyst sees a rise to $38. What next?

Doximity Inc. [NYSE: DOCS] closed the trading session at $26.33 on 11/10/22. The day’s price range saw the stock hit a low of $25.44, while the highest price level was $27.05. The company report on November 10, 2022 that Doximity Announces Fiscal 2023 Second Quarter Financial Results.

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Q2 total revenues of $102.2 million, up 29% year-over-yearQ2 operating cash flow of $39.5 million, up 106% year-over-yearQ2 free cash flow of $37.7 million, up 109% year-over-year.

Doximity, Inc. (NYSE: DOCS), the leading digital platform for U.S. medical professionals, today announced results for the fiscal 2023 second quarter ended September 30, 2022.

The stocks have a year to date performance of -47.48 percent and weekly performance of 3.05 percent. The stock has been moved at -11.79 percent over the last six months. The stock has performed -2.01 percent around the most recent 30 days and changed -30.67 percent over the most recent 3-months.

If compared to the average trading volume of 1.76M shares, DOCS reached to a volume of 5724848 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Doximity Inc. [DOCS]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for DOCS shares is $39.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on DOCS stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wells Fargo have made an estimate for Doximity Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on October 31, 2022. While these analysts kept the previous recommendation, Evercore ISI raised their target price to In-line. The new note on the price target was released on October 24, 2022, representing the official price target for Doximity Inc. stock.

The Average True Range (ATR) for Doximity Inc. is set at 1.87, with the Price to Sales ratio for DOCS stock in the period of the last 12 months amounting to 14.22. The Price to Book ratio for the last quarter was 5.63, with the Price to Cash per share for the same quarter was set at 3.98.

DOCS stock trade performance evaluation

Doximity Inc. [DOCS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.05. With this latest performance, DOCS shares dropped by -2.01% in over the last four-week period, additionally sinking by -11.79% over the last 6 months – not to mention a drop of -63.44% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for DOCS stock in for the last two-week period is set at 48.62, with the RSI for the last a single of trading hit 54.23, and the three-weeks RSI is set at 45.57 for Doximity Inc. [DOCS]. The present Moving Average for the last 50 days of trading for this stock 28.92, while it was recorded at 24.77 for the last single week of trading, and 39.46 for the last 200 days.

Doximity Inc. [DOCS]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Doximity Inc. [DOCS] shares currently have an operating margin of +33.05 and a Gross Margin at +88.42. Doximity Inc.’s Net Margin is presently recorded at +38.79.

Return on Equity for this stock inclined to 25.96, with Return on Assets sitting at 21.36.

Doximity Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.20 and a Current Ratio set at 7.20.

Earnings per share (EPS) analysis for Doximity Inc. [DOCS] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for DOCS. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Doximity Inc. go to 4.00%.

Doximity Inc. [DOCS]: Insider Ownership positions

There are presently around $2,461 million, or 90.50% of DOCS stock, in the hands of institutional investors. The top three institutional holders of DOCS stocks are: MORGAN STANLEY with ownership of 15,970,898, which is approximately 73.075% of the company’s market cap and around 1.00% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 12,545,173 shares of the stock with an approximate value of $330.31 million in DOCS stocks shares; and VANGUARD GROUP INC, currently with $201.48 million in DOCS stock with ownership of nearly 2.003% of the company’s market capitalization.

Positions in Doximity Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 149 institutional holders increased their position in Doximity Inc. [NYSE:DOCS] by around 22,812,910 shares. Additionally, 103 investors decreased positions by around 13,127,211 shares, while 44 investors held positions by with 57,515,996 shares. The mentioned changes placed institutional holdings at 93,456,117 shares, according to the latest SEC report filing. DOCS stock had 51 new institutional investments in for a total of 4,607,256 shares, while 43 institutional investors sold positions of 8,144,110 shares during the same period.


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