Doximity's (DOCS) "Hold" Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their hold rating on shares of Doximity (NASDAQ:DOCS - Free Report) in a report published on Wednesday morning, Marketbeat Ratings reports. The firm currently has a $60.00 price objective on the stock, up from their previous price objective of $40.00.

DOCS has been the topic of a number of other research reports. KeyCorp raised Doximity from a "sector weight" rating to an "overweight" rating and set a $70.00 price target on the stock in a research note on Friday, November 8th. Raymond James reissued an "outperform" rating and set a $65.00 price target (up previously from $37.00) on shares of Doximity in a research note on Friday, November 8th. Baird R W raised Doximity to a "strong-buy" rating in a research note on Tuesday, September 17th. Canaccord Genuity Group lowered Doximity from a "buy" rating to a "hold" rating and increased their price target for the stock from $40.00 to $60.00 in a research note on Wednesday. Finally, Truist Financial reaffirmed a "hold" rating and issued a $35.00 target price (up from $31.00) on shares of Doximity in a research report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Doximity presently has a consensus rating of "Hold" and an average target price of $48.14.

Doximity Price Performance

NASDAQ:DOCS traded down $5.27 during trading hours on Wednesday, reaching $52.78. 3,050,125 shares of the company traded hands, compared to its average volume of 1,725,881. The firm's 50-day moving average is $42.48 and its 200-day moving average is $33.68. The stock has a market cap of $9.80 billion, a P/E ratio of 61.68, a P/E/G ratio of 5.08 and a beta of 1.30. Doximity has a 1-year low of $22.96 and a 1-year high of $61.75.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. LRI Investments LLC purchased a new position in Doximity during the 1st quarter worth approximately $27,000. Farther Finance Advisors LLC increased its stake in Doximity by 324.2% in the third quarter. Farther Finance Advisors LLC now owns 789 shares of the company's stock valued at $34,000 after acquiring an additional 603 shares during the period. Blue Trust Inc. lifted 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 purchasing an additional 1,193 shares in the last quarter. Quarry LP lifted its holdings in Doximity by 101.2% in the second quarter. Quarry LP now owns 1,616 shares of the company's stock valued at $45,000 after buying an additional 131,253 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Doximity in the first quarter worth $46,000. Institutional investors and hedge funds 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.