Doximity (NASDAQ:DOCS) Price Target Raised to $49.00

Doximity (NASDAQ:DOCS - Get Free Report) had its price target increased by equities researchers at Truist Financial from $35.00 to $49.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a "hold" rating on the stock. Truist Financial's price target points to a potential downside of 5.86% from the stock's previous close.

A number of other brokerages also recently commented on DOCS. Barclays boosted their target price on shares of Doximity from $52.00 to $75.00 and gave the stock an "overweight" rating in a report on Monday. Canaccord Genuity Group reiterated a "hold" rating and issued a $60.00 price target (up from $40.00) on shares of Doximity in a research note on Wednesday. KeyCorp raised shares of Doximity from a "sector weight" rating to an "overweight" rating and set a $70.00 price objective for the company in a research report on Friday, November 8th. Bank of America raised their price target on shares of Doximity from $32.00 to $45.00 and gave the stock a "neutral" rating in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. raised their target price on Doximity from $27.00 to $30.00 and gave the stock a "neutral" rating in a research note on Monday, August 19th. Ten analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $50.57.

Doximity Trading Down 1.5 %

Shares of NASDAQ DOCS traded down $0.81 during mid-day trading on Thursday, reaching $52.05. The company had a trading volume of 2,218,890 shares, compared to its average volume of 1,733,846. The stock has a market cap of $9.66 billion, a price-to-earnings ratio of 60.38, a price-to-earnings-growth ratio of 5.08 and a beta of 1.30. The business's 50-day moving average is $42.81 and its 200-day moving average is $33.81. Doximity has a 52 week low of $22.96 and a 52 week high of $61.75.

Institutional Investors Weigh In On Doximity

Several large investors have recently bought and sold shares of DOCS. LRI Investments LLC purchased a new stake in shares of Doximity in the first quarter valued at approximately $27,000. Farther Finance Advisors LLC raised its holdings in shares of Doximity by 324.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 789 shares of the company's stock worth $34,000 after acquiring an additional 603 shares during the period. Blue Trust Inc. boosted 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 valued at $37,000 after acquiring an additional 1,193 shares during the last quarter. Quarry LP increased its position in Doximity by 101.2% during the second quarter. Quarry LP now owns 1,616 shares of the company's stock worth $45,000 after purchasing an additional 131,253 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in Doximity during the first quarter worth about $46,000. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

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.