Doximity, Inc. (NASDAQ:DOCS) Receives $64.22 Average Target Price from Analysts

Doximity, Inc. (NASDAQ:DOCS) has earned an average rating of “Moderate Buy” from the twenty-one ratings firms that are presently covering the company, Marketbeat Ratings reports. Eleven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $64.22.

Several analysts recently weighed in on the stock. Canaccord Genuity Group boosted their price objective on shares of Doximity from $60.00 to $71.00 and gave the stock a “hold” rating in a research note on Friday, February 7th. Needham & Company LLC boosted their price objective on shares of Doximity from $65.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Bank of America boosted their price objective on shares of Doximity from $54.00 to $57.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. boosted their price objective on shares of Doximity from $30.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. Finally, Barclays boosted their price objective on shares of Doximity from $52.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th.

Doximity Stock Performance

NASDAQ DOCS opened at $77.13 on Friday. The firm’s fifty day moving average price is $58.36 and its two-hundred day moving average price is $47.99. The stock has a market cap of $14.40 billion, a PE ratio of 77.13, a PEG ratio of 4.61 and a beta of 1.39. Doximity has a fifty-two week low of $22.96 and a fifty-two week high of $85.21.

Insider Activity

In other news, Director Timothy S. Cabral sold 20,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $57.62, for a total transaction of $1,152,400.00. Following the transaction, the director now owns 6,360 shares in the company, valued at approximately $366,463.20. This represents a 75.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 37.40% of the company’s stock.

Institutional Investors Weigh In On Doximity

A number of institutional investors and hedge funds have recently made changes to their positions in DOCS. Sanctuary Advisors LLC acquired a new stake in shares of Doximity in the 2nd quarter worth about $270,000. Creative Planning raised its holdings in shares of Doximity by 13.7% in the 3rd quarter. Creative Planning now owns 22,104 shares of the company’s stock worth $963,000 after acquiring an additional 2,671 shares during the last quarter. nVerses Capital LLC increased its stake in Doximity by 67.5% in the 3rd quarter. nVerses Capital LLC now owns 12,900 shares of the company’s stock valued at $562,000 after buying an additional 5,200 shares during the last quarter. Bleakley Financial Group LLC purchased a new stake in Doximity in the 3rd quarter valued at about $213,000. Finally, Trust Point Inc. increased its stake in Doximity by 16.9% in the 3rd quarter. Trust Point Inc. now owns 28,809 shares of the company’s stock valued at $1,255,000 after buying an additional 4,163 shares during the last quarter. Institutional investors and hedge funds own 87.19% of the company’s stock.

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.