Doximity (NASDAQ:DOCS) Price Target Raised to $57.00

Doximity (NASDAQ:DOCS) had its target price hoisted by Bank of America from $54.00 to $57.00 in a research report released on Monday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages also recently commented on DOCS. Wells Fargo & Company raised Doximity from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $19.00 to $41.00 in a research report on Friday, November 8th. Morgan Stanley upgraded Doximity from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $33.00 to $53.00 in a research note on Thursday, November 14th. Truist Financial lifted their target price on Doximity from $35.00 to $49.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. 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 report on Tuesday, October 8th. Finally, Barclays raised their price objective on shares of Doximity from $52.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Thirteen investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $53.00.

Doximity Stock Performance

Doximity stock opened at $54.93 on Monday. Doximity has a fifty-two week low of $22.96 and a fifty-two week high of $61.75. The firm’s 50-day simple moving average is $52.62 and its 200 day simple moving average is $41.32. The stock has a market cap of $10.25 billion, a PE ratio of 63.14, a price-to-earnings-growth ratio of 4.16 and a beta of 1.38.

Institutional Investors Weigh In On Doximity

Institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC increased its holdings in 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 during the period. William Blair Investment Management LLC increased its holdings in shares of Doximity by 15.8% in the second quarter. William Blair Investment Management LLC now owns 6,404,068 shares of the company’s stock worth $179,122,000 after purchasing an additional 873,682 shares during the period. Lord Abbett & CO. LLC purchased a new stake in shares of Doximity in the third quarter worth $29,453,000. Los Angeles Capital Management LLC boosted its stake in Doximity by 6,242.6% during the third quarter. Los Angeles Capital Management LLC now owns 650,874 shares of the company’s stock valued at $28,359,000 after buying an additional 640,612 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in Doximity during the third quarter worth about $24,691,000. 87.19% of the stock is 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.