Analysts Set Doximity, Inc. (NASDAQ:DOCS) Price Target at $64.22

Shares of Doximity, Inc. (NASDAQ:DOCS - Get Free Report) have been given a consensus rating of "Moderate Buy" by the twenty-one brokerages that are presently covering the firm, Marketbeat Ratings reports. Eleven analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $64.72.

Several brokerages have commented on DOCS. Wells Fargo & Company reissued an "equal weight" rating on shares of Doximity in a report on Friday, February 7th. Needham & Company LLC upped their target price on Doximity from $65.00 to $82.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Leerink Partners upgraded Doximity from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $60.00 to $90.00 in a research report on Friday, February 7th. Piper Sandler upgraded shares of Doximity from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $31.00 to $78.00 in a research report on Friday, February 7th. Finally, Truist Financial dropped their target price on shares of Doximity from $65.00 to $58.00 and set a "hold" rating for the company in a research report on Thursday.

Doximity Trading Down 7.3 %

Shares of DOCS stock traded down $4.08 during trading hours on Friday, reaching $51.52. The stock had a trading volume of 2,611,946 shares, compared to its average volume of 1,972,912. The stock's fifty day simple moving average is $64.86 and its 200 day simple moving average is $55.41. The firm has a market capitalization of $9.62 billion, a PE ratio of 51.52, a PEG ratio of 4.10 and a beta of 1.41. Doximity has a 12 month low of $22.96 and a 12 month high of $85.21.

Insider Buying and Selling

In other Doximity news, Director Timothy S. Cabral sold 20,000 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $57.62, for a total value of $1,152,400.00. Following the sale, the director now owns 6,360 shares of the company's stock, valued at $366,463.20. This trade represents a 75.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 37.40% of the stock is owned by corporate insiders.

Institutional Trading of Doximity

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Doximity by 4.5% during the 4th quarter. Vanguard Group Inc. now owns 11,203,569 shares of the company's stock valued at $598,159,000 after purchasing an additional 485,102 shares during the period. FMR LLC grew its position in shares of Doximity by 37.6% in the 4th quarter. FMR LLC now owns 9,409,313 shares of the company's stock worth $502,363,000 after buying an additional 2,571,580 shares during the last quarter. State Street Corp increased its stake in shares of Doximity by 2.5% during the third quarter. State Street Corp now owns 3,693,982 shares of the company's stock valued at $160,947,000 after buying an additional 88,922 shares during the period. Geode Capital Management LLC raised its holdings in shares of Doximity by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 2,952,442 shares of the company's stock valued at $157,668,000 after acquiring an additional 95,458 shares in the last quarter. Finally, Loomis Sayles & Co. L P lifted its stake in Doximity by 2.7% in the fourth quarter. Loomis Sayles & Co. L P now owns 2,334,597 shares of the company's stock worth $124,644,000 after acquiring an additional 62,366 shares during the period. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

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.