Wells Fargo & Company Issues Positive Forecast for Doximity (NASDAQ:DOCS) Stock Price

Doximity (NASDAQ:DOCS) had its target price boosted by research analysts at Wells Fargo & Company from $41.00 to $43.00 in a research note issued to investors 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 13.83% from the stock’s current price.

A number of other research firms also recently issued reports on DOCS. Bank of America raised their price target on Doximity from $54.00 to $57.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. The Goldman Sachs Group began coverage on shares of Doximity in a research note on Friday, November 15th. They set a “neutral” rating and a $58.00 price objective for the company. Canaccord Genuity Group downgraded shares of Doximity from a “buy” rating to a “hold” rating and lifted their price target for the stock from $40.00 to $60.00 in a research note on Wednesday, November 13th. Truist Financial boosted their target price on shares of Doximity from $35.00 to $49.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Finally, Baird R W raised shares of Doximity to a “strong-buy” rating in a research note on Tuesday, September 17th. 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 stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $53.12.

Doximity Stock Performance

Shares of DOCS traded down $2.20 during trading hours on Monday, hitting $49.90. 307,692 shares of the stock were exchanged, compared to its average volume of 1,321,419. Doximity has a 12-month low of $22.96 and a 12-month high of $61.75. The company has a market cap of $9.32 billion, a price-to-earnings ratio of 57.36, a price-to-earnings-growth ratio of 4.13 and a beta of 1.40. The stock’s 50-day moving average price is $53.07 and its two-hundred day moving average price is $41.78.

Institutional Trading of Doximity

Large investors have recently added to or reduced their stakes in the stock. FMR LLC raised its position in shares of Doximity by 30.5% during the 3rd quarter. FMR LLC now owns 6,837,733 shares of the company’s stock worth $297,920,000 after acquiring an additional 1,598,602 shares in the last quarter. Clearbridge Investments LLC raised its position in shares of 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 acquiring an additional 387,200 shares in the last quarter. State Street Corp raised its position in shares of Doximity by 2.5% during the 3rd quarter. State Street Corp now owns 3,693,982 shares of the company’s stock worth $160,947,000 after acquiring an additional 88,922 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Doximity by 19.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,856,984 shares of the company’s stock worth $124,503,000 after acquiring an additional 472,565 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Doximity by 23.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,603,202 shares of the company’s stock worth $44,842,000 after acquiring an additional 301,100 shares in the last quarter. 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.