Doximity, Inc. (NASDAQ:DOCS) Receives $36.42 Average Price Target from Analysts

Shares of Doximity, Inc. (NASDAQ:DOCS) have received a consensus recommendation of “Hold” from the seventeen brokerages that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $48.14.

Several research firms have recently issued reports on DOCS. Wells Fargo & Company raised shares of Doximity from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $19.00 to $41.00 in a research note on Friday, November 8th. Robert W. Baird raised their price target on shares of Doximity from $41.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, September 17th. Bank of America raised their price target on shares of Doximity from $32.00 to $45.00 and gave the company a “neutral” rating in a research note on Monday, October 7th. Needham & Company LLC raised shares of Doximity from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research note on Friday, August 9th. Finally, Barclays raised their price target on shares of Doximity from $52.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday.

Doximity Stock Down 8.9 %

DOCS stock opened at $52.88 on Thursday. The company’s 50-day simple moving average is $42.48 and its 200-day simple moving average is $33.68. Doximity has a 52-week low of $22.96 and a 52-week high of $61.75. The firm has a market cap of $9.82 billion, a P/E ratio of 60.78, a PEG ratio of 5.08 and a beta of 1.30.

Institutional Trading of Doximity

A number of hedge funds and other institutional investors have recently made changes to their positions in DOCS. Allspring Global Investments Holdings LLC acquired a new stake in shares of Doximity during the 1st quarter worth approximately $583,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Doximity during the 1st quarter worth approximately $416,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Doximity by 78.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 212,886 shares of the company’s stock worth $5,729,000 after buying an additional 93,718 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Doximity by 17.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 20,802 shares of the company’s stock worth $560,000 after buying an additional 3,086 shares during the last quarter. Finally, Central Pacific Bank Trust Division acquired a new stake in shares of Doximity during the 1st quarter worth approximately $120,000. Institutional investors and hedge funds own 87.19% of the company’s stock.

About Doximity

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.