Doximity (NASDAQ:DOCS) Given New $58.00 Price Target at Truist Financial

Doximity (NASDAQ:DOCS) had its price target cut by Truist Financial from $65.00 to $58.00 in a research note released on Thursday,Benzinga reports. They currently have a hold rating on the stock.

Several other equities research analysts have also recently weighed in on the company. Canaccord Genuity Group boosted their price objective on Doximity from $60.00 to $71.00 and gave the stock a “hold” rating in a research note on Friday, February 7th. Piper Sandler raised Doximity from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $31.00 to $78.00 in a research report on Friday, February 7th. Needham & Company LLC raised their price target on Doximity from $65.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. KeyCorp cut their price objective on shares of Doximity from $70.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Finally, Stephens initiated coverage on shares of Doximity in a report on Friday, December 20th. They issued an “equal weight” rating and a $55.00 target price for the company. Eleven analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Doximity currently has an average rating of “Moderate Buy” and a consensus price target of $64.72.

Doximity Stock Down 7.3 %

Shares of NASDAQ:DOCS opened at $51.52 on Thursday. The firm has a fifty day simple moving average of $64.86 and a two-hundred day simple moving average of $55.41. Doximity has a 52 week low of $22.96 and a 52 week high of $85.21. The stock has a market capitalization of $9.62 billion, a P/E ratio of 51.52, a PEG ratio of 4.10 and a beta of 1.41.

Insider Activity

In other news, Director Timothy S. Cabral sold 20,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $57.62, for a total transaction of $1,152,400.00. Following the transaction, the director now directly owns 6,360 shares in the company, valued at approximately $366,463.20. This trade represents a 75.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 37.40% of the company’s stock.

Institutional Trading of Doximity

Hedge funds and other institutional investors have recently bought and sold shares of the stock. MRA Advisory Group purchased a new stake in shares of Doximity during the 1st quarter worth $505,000. Apella Capital LLC raised its holdings in Doximity by 14.0% in the first quarter. Apella Capital LLC now owns 79,039 shares of the company’s stock worth $4,395,000 after purchasing an additional 9,719 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Doximity by 2.5% during the first quarter. Rhumbline Advisers now owns 341,854 shares of the company’s stock valued at $19,838,000 after buying an additional 8,177 shares during the last quarter. J2 Capital Management Inc bought a new stake in shares of Doximity in the 1st quarter valued at about $353,000. Finally, GAMMA Investing LLC grew its position in shares of Doximity by 9,318.6% in the 1st quarter. GAMMA Investing LLC now owns 163,412 shares of the company’s stock worth $9,483,000 after buying an additional 161,677 shares during the last quarter. Institutional investors 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.