Doximity (NASDAQ:DOCS) Trading 4.9% Higher - Should You Buy?

Doximity, Inc. (NASDAQ:DOCS - Get Free Report)'s stock price rose 4.9% during trading on Thursday . The stock traded as high as $54.92 and last traded at $54.75. Approximately 1,146,062 shares changed hands during trading, a decline of 34% from the average daily volume of 1,747,002 shares. The stock had previously closed at $52.19.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Evercore ISI boosted their price target on shares of Doximity from $34.00 to $45.00 and gave the stock an "in-line" rating in a research note on Tuesday, October 8th. Baird R W upgraded shares of Doximity to a "strong-buy" rating in a research report on Tuesday, September 17th. Bank of America raised their price target on Doximity from $32.00 to $45.00 and gave the stock a "neutral" rating in a research report on Monday, October 7th. Mizuho assumed coverage on Doximity in a report on Wednesday, December 4th. They issued a "neutral" rating and a $55.00 price objective for the company. Finally, Wells Fargo & Company upgraded Doximity from an "underweight" rating to an "equal weight" rating and raised their target price for the stock from $19.00 to $41.00 in a report on Friday, November 8th. Twelve research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $52.44.

Doximity Stock Up 5.7 %

The firm has a market capitalization of $10.30 billion, a price-to-earnings ratio of 63.43, a price-to-earnings-growth ratio of 4.16 and a beta of 1.40. The business's fifty day moving average is $48.82 and its 200 day moving average is $38.57.

Institutional Investors Weigh In On Doximity

Several institutional investors have recently bought and sold shares of DOCS. SG Americas Securities LLC raised its holdings in shares of Doximity by 29.6% in the second quarter. SG Americas Securities LLC now owns 16,033 shares of the company's stock valued at $448,000 after purchasing an additional 3,659 shares during the last quarter. Blue Trust Inc. increased its position in shares of Doximity by 621.4% during the 2nd quarter. Blue Trust Inc. now owns 1,385 shares of the company's stock worth $37,000 after purchasing an additional 1,193 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Doximity by 15,714.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 11,070 shares of the company's stock worth $310,000 after purchasing an additional 11,000 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Doximity by 80.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,710 shares of the company's stock valued at $48,000 after buying an additional 760 shares during the last quarter. Finally, Fifth Third Bancorp grew its stake in shares of Doximity by 181.6% in the second quarter. Fifth Third Bancorp now owns 3,207 shares of the company's stock valued at $90,000 after buying an additional 2,068 shares in the last quarter. Institutional investors own 87.19% of the company's stock.

Doximity Company Profile

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.