Doximity (NASDAQ:DOCS) Given New $58.00 Price Target at Truist Financial

Doximity (NASDAQ:DOCS - Get Free Report) had its target price cut by equities research analysts at Truist Financial from $65.00 to $58.00 in a report released on Thursday,Benzinga reports. The firm presently has a "hold" rating on the stock. Truist Financial's price target points to a potential upside of 9.29% from the stock's current price.

Other equities analysts have also issued research reports about the stock. Canaccord Genuity Group increased their target price on shares of Doximity from $60.00 to $71.00 and gave the stock a "hold" rating in a research report on Friday, February 7th. KeyCorp dropped 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. The Goldman Sachs Group boosted their price objective on Doximity from $58.00 to $80.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Piper Sandler raised shares of Doximity from a "neutral" rating to an "overweight" rating and raised their price target for the company from $31.00 to $78.00 in a report on Friday, February 7th. Finally, Bank of America boosted their price objective on Doximity from $54.00 to $57.00 and gave the stock a "neutral" rating in a report on Monday, January 6th. Eleven research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $64.72.

Doximity Stock Up 0.9 %

Doximity stock traded up $0.47 during trading on Thursday, hitting $53.07. The stock had a trading volume of 855,284 shares, compared to its average volume of 1,975,990. The stock has a market cap of $9.91 billion, a price-to-earnings ratio of 53.07, a price-to-earnings-growth ratio of 4.10 and a beta of 1.41. The stock's 50 day moving average is $64.63 and its two-hundred day moving average is $55.65. Doximity has a 1 year low of $22.96 and a 1 year high of $85.21.

Insider Activity

In other Doximity news, Director Timothy S. Cabral sold 20,000 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $57.62, for a total transaction of $1,152,400.00. Following the transaction, the director now directly owns 6,360 shares of the company's stock, valued at approximately $366,463.20. The trade was a 75.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 37.40% of the company's stock.

Hedge Funds Weigh In On Doximity

A number of institutional investors have recently bought and sold shares of DOCS. QSV Equity Investors LLC raised its position in shares of Doximity by 0.3% in the 4th quarter. QSV Equity Investors LLC now owns 60,763 shares of the company's stock worth $3,244,000 after acquiring an additional 186 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in Doximity by 0.7% in the fourth quarter. Handelsbanken Fonder AB now owns 29,700 shares of the company's stock worth $1,586,000 after purchasing an additional 200 shares in the last quarter. UMB Bank n.a. lifted its position in 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 buying an additional 235 shares during the period. Fielder Capital Group LLC boosted its holdings in shares of Doximity by 4.5% during the 4th quarter. Fielder Capital Group LLC now owns 5,488 shares of the company's stock valued at $293,000 after buying an additional 235 shares in the last quarter. Finally, Larson Financial Group LLC grew its position in shares of Doximity by 49.4% in the 4th quarter. Larson Financial Group LLC now owns 756 shares of the company's stock worth $40,000 after buying an additional 250 shares during the period. 87.19% of the stock is owned by 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.