Doximity (NASDAQ:DOCS) Stock Price Expected to Rise, Bank of America Analyst Says

Doximity (NASDAQ:DOCS) had its target price upped by Bank of America from $54.00 to $57.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Bank of America‘s price target suggests a potential upside of 3.47% from the stock’s previous close.

Several other analysts have also commented on the company. Morgan Stanley raised Doximity from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $33.00 to $53.00 in a report on Thursday, November 14th. Evercore ISI lifted their target price on shares of Doximity from $34.00 to $45.00 and gave the company an “in-line” rating in a report on Tuesday, October 8th. Mizuho started coverage on shares of Doximity in a report on Wednesday, December 4th. They set a “neutral” rating and a $55.00 price target on the stock. Barclays lifted their price objective on shares of Doximity from $52.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Finally, Stephens began coverage on shares of Doximity in a research note on Friday, December 20th. They set an “equal weight” rating and a $55.00 target price on the stock. Thirteen investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $53.29.

Doximity Price Performance

Shares of Doximity stock opened at $55.09 on Monday. Doximity has a 1 year low of $22.96 and a 1 year high of $61.75. The stock has a market cap of $10.28 billion, a PE ratio of 63.32, a price-to-earnings-growth ratio of 4.16 and a beta of 1.38. The firm has a fifty day moving average price of $52.36 and a 200 day moving average price of $41.23.

Institutional Investors Weigh In On Doximity

Large investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC boosted its stake in Doximity by 324.2% during the third quarter. Farther Finance Advisors LLC now owns 789 shares of the company’s stock worth $34,000 after buying an additional 603 shares during the last quarter. Morse Asset Management Inc purchased a new position in shares of Doximity during the 3rd quarter worth $46,000. GAMMA Investing LLC boosted its position in shares of Doximity by 40.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,439 shares of the company’s stock valued at $63,000 after acquiring an additional 412 shares during the last quarter. Quarry LP grew its holdings in shares of Doximity by 101.2% in the second quarter. Quarry LP now owns 1,616 shares of the company’s stock valued at $45,000 after purchasing an additional 131,253 shares during the period. Finally, Covestor Ltd increased its position in Doximity by 441.9% during the third quarter. Covestor Ltd now owns 1,680 shares of the company’s stock worth $73,000 after purchasing an additional 1,370 shares during the last quarter. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

Doximity Company Profile

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