Doximity (NASDAQ:DOCS) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Doximity (NASDAQ:DOCS - Get Free Report) had its price target increased by stock analysts at Wells Fargo & Company from $41.00 to $43.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective would indicate a potential downside of 13.13% from the stock's current price.

Other equities research analysts have also recently issued reports about the company. Evercore ISI lifted their price objective on Doximity from $34.00 to $45.00 and gave the company an "in-line" rating in a research note on Tuesday, October 8th. Raymond James reaffirmed an "outperform" rating and issued a $65.00 target price (up from $37.00) on shares of Doximity in a research report on Friday, November 8th. Baird R W raised shares of Doximity to a "strong-buy" rating in a research report on Tuesday, September 17th. Canaccord Genuity Group reissued a "hold" rating and issued a $60.00 price objective (up previously from $40.00) on shares of Doximity in a research note on Wednesday, November 13th. Finally, Morgan Stanley raised shares of Doximity from an "underweight" rating to an "equal weight" rating and upped their target price for the stock from $33.00 to $53.00 in a research note on Thursday, November 14th. Thirteen research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $53.12.

Doximity Trading Down 5.0 %

DOCS stock traded down $2.60 during trading on Monday, reaching $49.50. 2,401,351 shares of the stock were exchanged, compared to its average volume of 1,636,036. The firm has a market capitalization of $9.24 billion, a price-to-earnings ratio of 56.90, a P/E/G ratio of 4.13 and a beta of 1.40. The business has a 50 day moving average price of $53.23 and a 200-day moving average price of $41.93. Doximity has a 1 year low of $22.96 and a 1 year high of $61.75.

Institutional Investors Weigh In On Doximity

Institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC increased its position in shares of Doximity by 30.5% during the third quarter. FMR LLC now owns 6,837,733 shares of the company's stock worth $297,920,000 after purchasing an additional 1,598,602 shares in the last quarter. Clearbridge Investments LLC grew its stake in Doximity by 7.1% during the 2nd quarter. Clearbridge Investments LLC now owns 5,853,035 shares of the company's stock worth $163,709,000 after buying an additional 387,200 shares during the last quarter. State Street Corp increased its position in Doximity by 2.5% during the third quarter. State Street Corp now owns 3,693,982 shares of the company's stock worth $160,947,000 after buying an additional 88,922 shares during the period. Geode Capital Management LLC lifted its stake in Doximity by 19.8% in the third quarter. Geode Capital Management LLC now owns 2,856,984 shares of the company's stock valued at $124,503,000 after buying an additional 472,565 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Doximity by 23.1% in the second quarter. Renaissance Technologies LLC now owns 1,603,202 shares of the company's stock valued at $44,842,000 after acquiring an additional 301,100 shares during the period. 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.