Doximity (NASDAQ:DOCS) Lowered to Hold Rating by Canaccord Genuity Group

Canaccord Genuity Group lowered shares of Doximity (NASDAQ:DOCS) from a buy rating to a hold rating in a research report report published on Wednesday, Marketbeat.com reports. Canaccord Genuity Group currently has $60.00 price objective on the stock, up from their prior price objective of $40.00.

A number of other equities research analysts have also recently issued reports on the stock. Baird R W raised shares of Doximity to a “strong-buy” rating in a report on Tuesday, September 17th. JPMorgan Chase & Co. increased their price objective on shares of Doximity from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Raymond James reiterated an “outperform” rating and set a $65.00 price objective (up from $37.00) on shares of Doximity in a research report on Friday, November 8th. Needham & Company LLC upgraded shares of 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, KeyCorp raised shares of Doximity from a “sector weight” rating to an “overweight” rating and set a $70.00 price target on the stock in a research report on Friday, November 8th. Ten research 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $49.57.

Doximity Price Performance

DOCS stock opened at $52.88 on Wednesday. The company has a 50 day moving average price of $42.81 and a 200 day moving average price of $33.81. Doximity has a fifty-two week low of $22.96 and a fifty-two week high of $61.75. The stock has a market capitalization of $9.82 billion, a PE ratio of 60.78, a price-to-earnings-growth ratio of 5.08 and a beta of 1.30.

Institutional Trading of Doximity

Several hedge funds have recently added to or reduced their stakes in the business. FMR LLC lifted 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 in the last quarter. William Blair Investment Management LLC lifted its stake in shares of Doximity by 15.8% in the 2nd quarter. William Blair Investment Management LLC now owns 6,404,068 shares of the company’s stock valued at $179,122,000 after acquiring an additional 873,682 shares during the last quarter. Clearbridge Investments LLC increased its holdings in Doximity by 7.1% in the second quarter. Clearbridge Investments LLC now owns 5,853,035 shares of the company’s stock valued at $163,709,000 after purchasing an additional 387,200 shares during the period. Swedbank AB acquired a new stake in Doximity during the 1st quarter worth about $91,673,000. Finally, Janus Henderson Group PLC boosted its position 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 purchasing an additional 621,590 shares in the last quarter. Institutional investors 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.