Doximity (NASDAQ:DOCS) Coverage Initiated by Analysts at The Goldman Sachs Group

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

Other equities research analysts have also issued reports about the company. Wells Fargo & Company upgraded Doximity from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $19.00 to $41.00 in a research note on Friday, November 8th. Canaccord Genuity Group cut Doximity from a “buy” rating to a “hold” rating and upped their price target for the stock from $40.00 to $60.00 in a research report on Wednesday. Truist Financial lifted their price objective on Doximity from $35.00 to $49.00 and gave the company a “hold” rating in a research report on Thursday. Bank of America boosted their price objective on Doximity from $32.00 to $45.00 and gave the company a “neutral” rating in a research note on Monday, October 7th. Finally, Baird R W upgraded shares of Doximity to a “strong-buy” rating in a research note on Tuesday, September 17th. Eleven 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $51.07.

Doximity Price Performance

Shares of DOCS traded down $2.64 on Friday, reaching $49.40. The company’s stock had a trading volume of 3,180,866 shares, compared to its average volume of 1,740,355. Doximity has a 12-month low of $22.96 and a 12-month high of $61.75. The stock has a market capitalization of $9.17 billion, a P/E ratio of 56.80, a PEG ratio of 4.51 and a beta of 1.30. The stock’s 50 day simple moving average is $43.40 and its two-hundred day simple moving average is $34.11.

Institutional Trading of Doximity

A number of large investors have recently added to or reduced their stakes in the company. Swedbank AB bought a new stake in Doximity in the first quarter worth $91,673,000. FMR LLC increased its holdings in shares of Doximity by 30.5% in the 3rd quarter. FMR LLC now owns 6,837,733 shares of the company’s stock worth $297,920,000 after buying an additional 1,598,602 shares during the last quarter. Capital World Investors raised its position in shares of Doximity by 250.7% during the 1st quarter. Capital World Investors now owns 1,714,707 shares of the company’s stock valued at $46,143,000 after buying an additional 1,225,707 shares in the last quarter. William Blair Investment Management LLC lifted its holdings 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. Finally, Los Angeles Capital Management LLC grew its position in Doximity by 6,242.6% in the third quarter. Los Angeles Capital Management LLC now owns 650,874 shares of the company’s stock worth $28,359,000 after acquiring an additional 640,612 shares in 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.