Doximity (NASDAQ:DOCS) Price Target Lowered to $70.00 at KeyCorp

Doximity (NASDAQ:DOCS - Free Report) had its price target decreased by KeyCorp from $83.00 to $70.00 in a research report released on Wednesday, Marketbeat.com reports. KeyCorp currently has an overweight rating on the stock.

Several other analysts also recently weighed in on the company. Needham & Company LLC boosted their target price on Doximity from $65.00 to $82.00 and gave the company a "buy" rating in a report on Friday, February 7th. Stephens assumed coverage on shares of Doximity in a report on Friday, December 20th. They issued an "equal weight" rating and a $55.00 target price on the stock. Wells Fargo & Company reissued an "equal weight" rating on shares of Doximity in a research report on Friday, February 7th. Piper Sandler raised Doximity from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $31.00 to $78.00 in a report on Friday, February 7th. Finally, Bank of America upped their price objective on Doximity from $54.00 to $57.00 and gave the company a "neutral" rating in a research note on Monday, January 6th. Eleven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Doximity has an average rating of "Moderate Buy" and an average price target of $65.00.

Doximity Trading Up 0.6 %

Shares of NASDAQ DOCS traded up $0.32 during mid-day trading on Wednesday, reaching $53.10. The company had a trading volume of 1,941,624 shares, compared to its average volume of 1,985,039. Doximity has a 52-week low of $22.96 and a 52-week high of $85.21. The stock has a market cap of $9.91 billion, a P/E ratio of 53.10, a PEG ratio of 4.10 and a beta of 1.41. The firm has a 50 day simple moving average of $62.97 and a two-hundred day simple moving average of $55.83.

Insider Activity at Doximity

In other Doximity news, Director Timothy S. Cabral sold 20,000 shares of Doximity stock in a transaction dated 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 completion of the transaction, the director now owns 6,360 shares in the company, valued at approximately $366,463.20. The trade was a 75.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 37.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Morse Asset Management Inc acquired a new stake in Doximity during the 3rd quarter valued at $46,000. Orion Portfolio Solutions LLC purchased a new stake in Doximity during the 3rd quarter worth about $260,000. Barclays PLC raised its stake in Doximity by 60.5% in the 3rd quarter. Barclays PLC now owns 53,401 shares of the company's stock valued at $2,327,000 after purchasing an additional 20,125 shares during the last quarter. M&T Bank Corp acquired a new stake in shares of Doximity during the 3rd quarter worth about $351,000. Finally, Geode Capital Management LLC grew its holdings in shares of Doximity by 19.8% during the third quarter. Geode Capital Management LLC now owns 2,856,984 shares of the company's stock worth $124,503,000 after buying an additional 472,565 shares in the last quarter. 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.