Doximity, Inc. (NASDAQ:DOCS) Receives $52.27 Average PT from Brokerages

Shares of Doximity, Inc. (NASDAQ:DOCS) have received an average rating of “Hold” from the nineteen analysts that are covering the stock, Marketbeat Ratings reports. Twelve investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $52.44.

Several research analysts have commented on DOCS shares. Robert W. Baird lifted their price target on shares of Doximity from $41.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 17th. Canaccord Genuity Group reiterated a “hold” rating and issued a $60.00 target price (up previously from $40.00) on shares of Doximity in a research report on Wednesday, November 13th. Wells Fargo & Company upgraded shares of Doximity from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $19.00 to $41.00 in a research report on Friday, November 8th. Mizuho began coverage on Doximity in a report on Wednesday, December 4th. They issued a “neutral” rating and a $55.00 price objective on the stock. Finally, Canaccord Genuity Group lowered Doximity from a “buy” rating to a “hold” rating and boosted their target price for the company from $40.00 to $60.00 in a research note on Wednesday, November 13th.

Doximity Trading Up 0.4 %

Shares of NASDAQ DOCS opened at $55.53 on Monday. The stock’s 50-day moving average is $47.11 and its 200 day moving average is $37.07. The stock has a market cap of $10.37 billion, a price-to-earnings ratio of 63.83, a P/E/G ratio of 4.34 and a beta of 1.40. Doximity has a 1-year low of $22.96 and a 1-year high of $61.75.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. MetLife Investment Management LLC lifted its position in shares of Doximity by 0.6% in the 3rd quarter. MetLife Investment Management LLC now owns 65,064 shares of the company’s stock worth $2,835,000 after purchasing an additional 363 shares during the period. First Horizon Advisors Inc. lifted its holdings in Doximity by 22.5% in the third quarter. First Horizon Advisors Inc. now owns 2,094 shares of the company’s stock worth $91,000 after buying an additional 384 shares during the period. GAMMA Investing LLC boosted its position in 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 in the last quarter. Van ECK Associates Corp grew its holdings in shares of Doximity by 19.7% during the 2nd quarter. Van ECK Associates Corp now owns 2,590 shares of the company’s stock worth $72,000 after acquiring an additional 427 shares during the period. Finally, Cornercap Investment Counsel Inc. raised its position in shares of Doximity by 3.2% in the 2nd quarter. Cornercap Investment Counsel Inc. now owns 17,143 shares of the company’s stock worth $479,000 after acquiring an additional 537 shares in the last quarter. 87.19% of the stock is 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.