Doximity, Inc. (NASDAQ:DOCS) Receives Average Recommendation of “Hold” from Analysts

Doximity, Inc. (NASDAQ:DOCS) has received a consensus rating of “Hold” from the twenty ratings firms that are currently covering the firm, MarketBeat reports. Thirteen investment 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. The average 1 year price target among brokers that have issued a report on the stock in the last year is $52.59.

Several research analysts recently issued reports on DOCS shares. Canaccord Genuity Group lowered Doximity from a “buy” rating to a “hold” rating and raised their target price for the stock from $40.00 to $60.00 in a research report on Wednesday, November 13th. Evercore ISI raised their price objective on Doximity from $34.00 to $45.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 8th. Raymond James reaffirmed an “outperform” rating and issued a $65.00 price objective (up from $37.00) on shares of Doximity in a research note on Friday, November 8th. Canaccord Genuity Group reissued a “hold” rating and set a $60.00 target price (up previously from $40.00) on shares of Doximity in a research report on Wednesday, November 13th. Finally, Morgan Stanley upgraded shares of Doximity from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $33.00 to $53.00 in a research report on Thursday, November 14th.

Institutional Investors Weigh In On Doximity

Hedge funds and other institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC lifted its holdings in shares of Doximity by 324.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 789 shares of the company’s stock worth $34,000 after purchasing an additional 603 shares in the last quarter. Quarry LP lifted its stake in shares of Doximity by 101.2% in the second quarter. Quarry LP now owns 1,616 shares of the company’s stock valued at $45,000 after buying an additional 131,253 shares in the last quarter. Morse Asset Management Inc acquired a new position in shares of Doximity during the third quarter valued at about $46,000. GAMMA Investing LLC increased its position in shares of Doximity by 40.1% during the third quarter. GAMMA Investing LLC now owns 1,439 shares of the company’s stock worth $63,000 after acquiring an additional 412 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of Doximity by 19.7% in the 2nd quarter. Van ECK Associates Corp now owns 2,590 shares of the company’s stock worth $72,000 after acquiring an additional 427 shares during the last quarter. Institutional investors own 87.19% of the company’s stock.

Doximity Stock Performance

Shares of NASDAQ DOCS opened at $53.56 on Friday. The stock has a market cap of $10.00 billion, a P/E ratio of 61.56, a price-to-earnings-growth ratio of 4.16 and a beta of 1.40. The firm has a 50 day moving average price of $51.29 and a two-hundred day moving average price of $40.37. Doximity has a 52-week low of $22.96 and a 52-week high of $61.75.

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.