Brokerages Set Doximity, Inc. (NASDAQ:DOCS) Price Target at $52.27

Shares of Doximity, Inc. (NASDAQ:DOCS) have earned an average recommendation of “Hold” from the nineteen research firms that are presently covering the firm, MarketBeat Ratings reports. Twelve analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $52.44.

Several research analysts recently commented on the stock. Truist Financial raised their price target on shares of Doximity from $35.00 to $49.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Needham & Company LLC upgraded shares of Doximity from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a report on Friday, August 9th. Canaccord Genuity Group restated a “hold” rating and issued a $60.00 price target (up previously from $40.00) on shares of Doximity in a report on Wednesday, November 13th. Evercore ISI upped their price target on Doximity from $34.00 to $45.00 and gave the stock an “in-line” rating in a report on Tuesday, October 8th. Finally, 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 report on Wednesday, November 13th.

Doximity Stock Performance

DOCS opened at $54.20 on Monday. Doximity has a 1 year low of $22.96 and a 1 year high of $61.75. The company’s 50 day simple moving average is $46.36 and its 200 day simple moving average is $36.57. The stock has a market capitalization of $10.12 billion, a PE ratio of 62.30, a P/E/G ratio of 4.28 and a beta of 1.40.

Hedge Funds Weigh In On Doximity

Large investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its holdings in Doximity by 0.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 559,826 shares of the company’s stock valued at $15,065,000 after purchasing an additional 2,190 shares during the period. Comerica Bank grew its holdings in Doximity by 4.1% during the first quarter. Comerica Bank now owns 63,704 shares of the company’s stock valued at $1,714,000 after purchasing an additional 2,480 shares during the period. Virtu Financial LLC acquired a new position in Doximity during the first quarter valued at approximately $223,000. DekaBank Deutsche Girozentrale acquired a new position in Doximity during the first quarter valued at approximately $46,000. Finally, Apella Capital LLC grew its holdings in Doximity by 16.5% during the second quarter. Apella Capital LLC now owns 54,589 shares of the company’s stock valued at $1,494,000 after purchasing an additional 7,746 shares during the period. 87.19% of the stock is currently owned by institutional investors and hedge funds.

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.