Doximity (NASDAQ:DOCS) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Doximity (NASDAQ:DOCS - Free Report) had its target price increased by The Goldman Sachs Group from $58.00 to $80.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a neutral rating on the stock.

Several other analysts also recently weighed in on the company. Canaccord Genuity Group raised their target price on Doximity from $60.00 to $71.00 and gave the company a "hold" rating in a research note on Friday, February 7th. Bank of America increased their target price on Doximity from $54.00 to $57.00 and gave the stock a "neutral" rating in a report on Monday, January 6th. Stephens began coverage on Doximity in a research report on Friday, December 20th. They set an "equal weight" rating and a $55.00 price target on the stock. Canaccord Genuity Group downgraded shares of Doximity from a "buy" rating to a "hold" rating and lifted their price objective for the stock from $40.00 to $60.00 in a report on Wednesday, November 13th. Finally, Needham & Company LLC boosted their target price on shares of Doximity from $65.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Eleven research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.22.

Doximity Stock Performance

Doximity stock traded up $0.75 during trading on Monday, reaching $75.93. The company had a trading volume of 2,688,289 shares, compared to its average volume of 2,319,464. The firm has a market capitalization of $14.17 billion, a price-to-earnings ratio of 75.99, a PEG ratio of 4.61 and a beta of 1.39. The stock's 50 day moving average price is $57.03 and its two-hundred day moving average price is $46.83. Doximity has a 12-month low of $22.96 and a 12-month high of $85.21.

Insider Buying and Selling

In other Doximity news, Director Timothy S. Cabral sold 20,000 shares of the business's 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 sale, the director now directly owns 6,360 shares in the company, valued at approximately $366,463.20. The trade was a 75.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 37.40% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Global Retirement Partners LLC lifted its position in Doximity by 468.1% in the fourth quarter. Global Retirement Partners LLC now owns 534 shares of the company's stock worth $29,000 after purchasing an additional 440 shares during the period. UMB Bank n.a. lifted its holdings in shares of Doximity by 69.1% in 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. Farther Finance Advisors LLC boosted its stake in 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 buying an additional 603 shares in the last quarter. Larson Financial Group LLC boosted its stake in 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 buying an additional 250 shares in the last quarter. Finally, Optimum Investment Advisors acquired a new position in Doximity during the fourth quarter worth about $43,000. 87.19% of the stock is currently 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.