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

Equities research analysts at The Goldman Sachs Group assumed coverage on shares of Doximity (NASDAQ:DOCS - Get Free Report) in a research note issued to investors on Friday, MarketBeat reports. The firm set a "neutral" rating and a $58.00 price target on the stock. The Goldman Sachs Group's price objective would suggest a potential upside of 17.41% from the stock's current price.

Several other research analysts also recently commented on the stock. Canaccord Genuity Group reissued a "hold" rating and set a $60.00 price objective (up previously from $40.00) on shares of Doximity in a report on Wednesday. Barclays increased their price objective on shares of Doximity from $52.00 to $75.00 and gave the company an "overweight" rating in a report on Monday. Raymond James reaffirmed an "outperform" rating and issued a $65.00 price target (up previously from $37.00) on shares of Doximity in a report on Friday, November 8th. KeyCorp raised shares of Doximity from a "sector weight" rating to an "overweight" rating and set a $70.00 price target for the company in a report on Friday, November 8th. Finally, Baird R W raised shares of Doximity to a "strong-buy" rating in a report on Tuesday, September 17th. Eleven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $51.07.

Doximity Stock Performance

Shares of DOCS traded down $2.64 during midday trading on Friday, hitting $49.40. 3,178,691 shares of the company traded hands, compared to its average volume of 1,740,354. The firm has a 50 day moving average of $43.14 and a 200-day moving average of $33.94. Doximity has a 52 week low of $22.96 and a 52 week high of $61.75. The stock has a market cap of $9.17 billion, a price-to-earnings ratio of 57.23, a PEG ratio of 4.51 and a beta of 1.30.

Hedge Funds Weigh In On Doximity

Institutional investors have recently modified their holdings of the stock. LRI Investments LLC purchased a new position in shares of Doximity during the first quarter worth approximately $27,000. Farther Finance Advisors LLC increased its position in shares of Doximity by 324.2% during the third 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 period. Blue Trust Inc. increased its position in shares of Doximity by 621.4% during the second 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 period. Quarry LP increased its position in shares of Doximity by 101.2% during 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 during the period. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Doximity during the first quarter worth approximately $46,000. 87.19% of the stock is 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.