Doximity Sees Unusually Large Options Volume (NASDAQ:DOCS)

Doximity, Inc. (NASDAQ:DOCS) saw unusually large options trading on Monday. Traders acquired 3,211 call options on the stock. This represents an increase of approximately 57% compared to the average daily volume of 2,050 call options.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on DOCS. Barclays lifted their price objective on Doximity from $52.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday. Bank of America boosted their price target on shares of Doximity from $32.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, October 7th. Raymond James reaffirmed an “outperform” rating and issued a $65.00 price objective (up from $37.00) on shares of Doximity in a report on Friday, November 8th. Canaccord Genuity Group boosted their target price on shares of Doximity from $37.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Finally, Truist Financial restated a “hold” rating and set a $35.00 target price (up previously from $31.00) on shares of Doximity in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $45.69.

Doximity Stock Down 5.2 %

Doximity stock opened at $58.07 on Wednesday. The stock has a market cap of $10.78 billion, a price-to-earnings ratio of 70.40, a PEG ratio of 7.00 and a beta of 1.30. The business has a 50-day simple moving average of $42.04 and a 200 day simple moving average of $33.44. Doximity has a 52 week low of $22.96 and a 52 week high of $61.75.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. LRI Investments LLC bought a new stake in Doximity during the first quarter valued at approximately $27,000. Farther Finance Advisors LLC lifted its holdings in shares of Doximity by 324.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 789 shares of the company’s stock worth $34,000 after acquiring an additional 603 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Doximity by 621.4% during the 2nd quarter. Blue Trust Inc. now owns 1,385 shares of the company’s stock worth $37,000 after acquiring an additional 1,193 shares during the last quarter. Quarry LP grew its position in Doximity by 101.2% in the second quarter. Quarry LP now owns 1,616 shares of the company’s stock worth $45,000 after acquiring an additional 131,253 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new position in Doximity in the first quarter valued at $46,000. Hedge funds and other 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.