Doximity (NASDAQ:DOCS) Given New $57.00 Price Target at Bank of America

Doximity (NASDAQ:DOCS - Get Free Report) had its price objective boosted by equities researchers at Bank of America from $54.00 to $57.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Bank of America's target price points to a potential upside of 2.61% from the stock's previous close.

A number of other equities research analysts also recently commented on the company. Mizuho initiated coverage on Doximity in a research report on Wednesday, December 4th. They set a "neutral" rating and a $55.00 price objective for the company. Truist Financial upped their target price on Doximity from $35.00 to $49.00 and gave the company a "hold" rating in a report on Thursday, November 14th. Canaccord Genuity Group cut Doximity from a "buy" rating to a "hold" rating and lifted their price target for the stock from $40.00 to $60.00 in a research note on Wednesday, November 13th. The Goldman Sachs Group started coverage on Doximity in a report on Friday, November 15th. They set a "neutral" rating and a $58.00 price objective on the stock. Finally, Evercore ISI raised their target price on shares of Doximity from $34.00 to $45.00 and gave the stock an "in-line" rating in a report on Tuesday, October 8th. Thirteen investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $53.29.

Doximity Price Performance

Shares of DOCS traded up $0.33 during mid-day trading on Monday, hitting $55.55. The company's stock had a trading volume of 1,419,846 shares, compared to its average volume of 1,330,149. The firm has a 50-day moving average price of $52.09 and a 200 day moving average price of $41.03. Doximity has a fifty-two week low of $22.96 and a fifty-two week high of $61.75. The stock has a market capitalization of $10.37 billion, a price-to-earnings ratio of 63.85, a PEG ratio of 4.16 and a beta of 1.38.

Institutional Investors Weigh In On Doximity

Several institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC raised its position in Doximity by 20.6% during the fourth quarter. GAMMA Investing LLC now owns 1,735 shares of the company's stock valued at $93,000 after acquiring an additional 296 shares in the last quarter. MetLife Investment Management LLC lifted its stake in shares of Doximity by 0.6% in the 3rd quarter. MetLife Investment Management LLC now owns 65,064 shares of the company's stock valued at $2,835,000 after purchasing an additional 363 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in shares of Doximity by 22.5% in the 3rd quarter. First Horizon Advisors Inc. now owns 2,094 shares of the company's stock valued at $91,000 after purchasing an additional 384 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Doximity by 19.7% in the second quarter. Van ECK Associates Corp now owns 2,590 shares of the company's stock worth $72,000 after purchasing an additional 427 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. increased its position in Doximity by 3.2% during the second quarter. Cornercap Investment Counsel Inc. now owns 17,143 shares of the company's stock worth $479,000 after buying an additional 537 shares during the last quarter. 87.19% of the stock is currently owned by institutional investors and hedge funds.

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.