Canaccord Genuity Group Forecasts Strong Price Appreciation for Doximity (NASDAQ:DOCS) Stock

Doximity (NASDAQ:DOCS - Free Report) had its target price boosted by Canaccord Genuity Group from $60.00 to $71.00 in a report issued on Friday,Benzinga reports. They currently have a hold rating on the stock.

Several other equities analysts have also commented on DOCS. Wells Fargo & Company boosted their price target on Doximity from $43.00 to $55.00 and gave the stock an "equal weight" rating in a research report on Friday. KeyCorp cut their target price on Doximity from $70.00 to $65.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Canaccord Genuity Group lowered Doximity from a "buy" rating to a "hold" rating and upped their target price for the company from $40.00 to $60.00 in a research report on Wednesday, November 13th. Needham & Company LLC upped their target price on Doximity from $65.00 to $82.00 and gave the company a "buy" rating in a research report on Friday. Finally, Morgan Stanley raised Doximity from an "underweight" rating to an "equal weight" rating and upped their target price for the company from $33.00 to $53.00 in a research report on Thursday, November 14th. Eleven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $64.22.

Doximity Price Performance

Doximity stock traded down $8.24 during midday trading on Friday, hitting $74.91. 8,066,650 shares of the company were exchanged, compared to its average volume of 2,242,635. The company's fifty day moving average price is $56.20 and its 200-day moving average price is $46.30. The company has a market cap of $13.98 billion, a PE ratio of 74.91, a price-to-earnings-growth ratio of 4.61 and a beta of 1.39. Doximity has a fifty-two week low of $22.96 and a fifty-two week high of $85.21.

Insider Transactions at Doximity

In other news, Director Timothy S. Cabral sold 20,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $57.62, for a total value of $1,152,400.00. Following the completion of the transaction, the director now owns 6,360 shares of the company's stock, valued at approximately $366,463.20. This represents a 75.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 37.40% of the company's stock.

Institutional Trading of Doximity

Several institutional investors have recently modified their holdings of the company. Global Retirement Partners LLC lifted its holdings in shares of Doximity by 468.1% during the fourth quarter. Global Retirement Partners LLC now owns 534 shares of the company's stock valued at $29,000 after purchasing an additional 440 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Doximity by 69.1% during the fourth quarter. UMB Bank n.a. now owns 575 shares of the company's stock valued at $31,000 after purchasing an additional 235 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Doximity by 324.2% during the third quarter. Farther Finance Advisors LLC now owns 789 shares of the company's stock valued at $34,000 after purchasing an additional 603 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Doximity by 49.4% during the fourth quarter. Larson Financial Group LLC now owns 756 shares of the company's stock valued at $40,000 after purchasing an additional 250 shares during the last quarter. Finally, Optimum Investment Advisors purchased a new stake in shares of Doximity during the fourth quarter valued at $43,000. Institutional investors and hedge funds 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.