Doximity (NASDAQ:DOCS) Price Target Raised to $49.00 at Truist Financial

Doximity (NASDAQ:DOCS) had its target price lifted by Truist Financial from $35.00 to $49.00 in a report released on Thursday morning,Benzinga reports. Truist Financial currently has a hold rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Barclays increased their target price on shares of Doximity from $52.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Bank of America lifted their price objective on Doximity from $32.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, October 7th. Morgan Stanley raised Doximity from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $33.00 to $53.00 in a research report on Thursday. Needham & Company LLC upgraded Doximity from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a report on Friday, August 9th. Finally, Canaccord Genuity Group restated a “hold” rating and issued a $60.00 price objective (up previously from $40.00) on shares of Doximity in a report on Wednesday. Eleven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $51.07.

Doximity Price Performance

Shares of DOCS opened at $49.40 on Thursday. The company has a market capitalization of $9.17 billion, a price-to-earnings ratio of 56.78, a P/E/G ratio of 4.51 and a beta of 1.30. The business’s 50-day moving average is $43.40 and its 200-day moving average is $34.18. Doximity has a fifty-two week low of $22.96 and a fifty-two week high of $61.75.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. MetLife Investment Management LLC increased its stake in shares of Doximity by 0.6% in the third 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. grew its holdings in Doximity by 22.5% in the 3rd quarter. First Horizon Advisors Inc. now owns 2,094 shares of the company’s stock valued at $91,000 after buying an additional 384 shares during the last quarter. GAMMA Investing LLC increased its position in Doximity by 40.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,439 shares of the company’s stock worth $63,000 after buying an additional 412 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Doximity by 19.7% during the second quarter. Van ECK Associates Corp now owns 2,590 shares of the company’s stock worth $72,000 after buying an additional 427 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. lifted its holdings in shares of Doximity by 3.2% during the second quarter. Cornercap Investment Counsel Inc. now owns 17,143 shares of the company’s stock worth $479,000 after buying an additional 537 shares during the last quarter. Institutional investors and hedge funds own 87.19% of the company’s stock.

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.