Brokerages Set Doximity, Inc. (NASDAQ:DOCS) Target Price at $36.42

Doximity, Inc. (NASDAQ:DOCS) has been assigned a consensus rating of “Hold” from the seventeen ratings firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $48.14.

Several analysts have recently commented on DOCS shares. Raymond James reiterated an “outperform” rating and set a $65.00 price objective (up previously from $37.00) on shares of Doximity in a report on Friday, November 8th. Canaccord Genuity Group reiterated a “hold” rating and set a $60.00 price objective (up previously from $40.00) on shares of Doximity in a report on Wednesday. Canaccord Genuity Group lowered Doximity from a “buy” rating to a “hold” rating and increased their price objective for the company from $40.00 to $60.00 in a report on Wednesday. Wells Fargo & Company upgraded Doximity from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $19.00 to $41.00 in a report on Friday, November 8th. Finally, Bank of America upped their target price on Doximity from $32.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, October 7th.

Institutional Investors Weigh In On Doximity

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC grew its position in Doximity by 30.5% during the 3rd quarter. FMR LLC now owns 6,837,733 shares of the company’s stock worth $297,920,000 after purchasing an additional 1,598,602 shares during the period. William Blair Investment Management LLC grew its position in Doximity by 15.8% during the 2nd quarter. William Blair Investment Management LLC now owns 6,404,068 shares of the company’s stock worth $179,122,000 after purchasing an additional 873,682 shares during the period. Clearbridge Investments LLC grew its position in Doximity by 7.1% during the 2nd quarter. Clearbridge Investments LLC now owns 5,853,035 shares of the company’s stock worth $163,709,000 after purchasing an additional 387,200 shares during the period. Swedbank AB purchased a new stake in shares of Doximity during the 1st quarter worth about $91,673,000. Finally, Janus Henderson Group PLC boosted its stake in shares of Doximity by 33.5% during the 1st quarter. Janus Henderson Group PLC now owns 2,474,695 shares of the company’s stock worth $66,594,000 after acquiring an additional 621,590 shares in the last quarter. 87.19% of the stock is owned by institutional investors and hedge funds.

Doximity Trading Down 8.9 %

Shares of DOCS opened at $52.88 on Thursday. Doximity has a 12 month low of $22.96 and a 12 month high of $61.75. The stock has a fifty day moving average price of $42.48 and a 200-day moving average price of $33.68. The firm has a market cap of $9.82 billion, a PE ratio of 60.78, a P/E/G ratio of 5.08 and a beta of 1.30.

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.