Doximity (NASDAQ:DOCS) Now Covered by Analysts at The Goldman Sachs Group

The Goldman Sachs Group started coverage on shares of Doximity (NASDAQ:DOCS) in a research report released on Friday, Marketbeat reports. The brokerage issued a neutral rating and a $58.00 price target on the stock.

DOCS has been the topic of a number of other reports. Morgan Stanley raised shares of Doximity from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $33.00 to $53.00 in a research report on Thursday. Truist Financial upped their target price on shares of Doximity from $35.00 to $49.00 and gave the stock a “hold” rating in a research note on Thursday. Needham & Company LLC raised shares of Doximity from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a research note on Friday, August 9th. Barclays boosted their price target on Doximity from $52.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Finally, Bank of America upped their price objective on shares of Doximity from $32.00 to $45.00 and gave the stock a “neutral” rating in a research note on Monday, October 7th. Eleven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $51.07.

Doximity Price Performance

Shares of DOCS traded down $2.64 during midday trading on Friday, hitting $49.40. The stock had a trading volume of 3,180,866 shares, compared to its average volume of 1,740,355. The stock’s 50 day moving average is $43.40 and its 200 day moving average is $34.11. The firm has a market cap of $9.17 billion, a PE ratio of 56.80, a price-to-earnings-growth ratio of 4.51 and a beta of 1.30. Doximity has a 1 year low of $22.96 and a 1 year high of $61.75.

Institutional Trading of Doximity

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of Doximity by 30.5% in the third quarter. FMR LLC now owns 6,837,733 shares of the company’s stock valued at $297,920,000 after purchasing an additional 1,598,602 shares during the period. William Blair Investment Management LLC boosted its position in Doximity by 15.8% in the second quarter. William Blair Investment Management LLC now owns 6,404,068 shares of the company’s stock valued at $179,122,000 after buying an additional 873,682 shares during the last quarter. Clearbridge Investments LLC increased its holdings in Doximity by 7.1% in the 2nd quarter. Clearbridge Investments LLC now owns 5,853,035 shares of the company’s stock worth $163,709,000 after buying an additional 387,200 shares during the period. State Street Corp raised its position in Doximity by 2.5% during the 3rd quarter. State Street Corp now owns 3,693,982 shares of the company’s stock worth $160,947,000 after buying an additional 88,922 shares during the last quarter. Finally, Swedbank AB acquired a new stake in Doximity during the 1st quarter valued at approximately $91,673,000. 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.