Brokerages Set Doximity, Inc. (NASDAQ:DOCS) PT at $64.22

Doximity, Inc. (NASDAQ:DOCS) has been given an average recommendation of “Moderate Buy” by the twenty-one research firms that are covering the firm, Marketbeat Ratings reports. Eleven equities research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $64.22.

A number of brokerages have recently commented on DOCS. Raymond James reaffirmed an “outperform” rating and set a $83.00 price objective (up previously from $65.00) on shares of Doximity in a research report on Friday, February 7th. Wells Fargo & Company reissued an “equal weight” rating on shares of Doximity in a research report on Friday, February 7th. Leerink Partnrs raised shares of Doximity from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 7th. Stephens began coverage on shares of Doximity in a research report on Friday, December 20th. They issued an “equal weight” rating and a $55.00 price target for the company. Finally, Bank of America increased their price target on shares of Doximity from $54.00 to $57.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th.

Insider Activity

In other news, Director Timothy S. Cabral sold 20,000 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 6,360 shares of the company’s stock, valued at $366,463.20. This represents a 75.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 37.40% of the stock is owned by insiders.

Institutional Trading of Doximity

Hedge funds have recently modified their holdings of the stock. Shaker Investments LLC OH acquired a new stake in Doximity during the 4th quarter worth $559,000. Penserra Capital Management LLC acquired a new stake in Doximity during the 3rd quarter worth $2,384,000. Principal Financial Group Inc. grew its holdings in Doximity by 1.5% during the 4th quarter. Principal Financial Group Inc. now owns 293,974 shares of the company’s stock worth $15,695,000 after acquiring an additional 4,282 shares during the period. Newbridge Financial Services Group Inc. acquired a new stake in Doximity during the 4th quarter worth $362,000. Finally, Stratos Wealth Partners LTD. acquired a new stake in Doximity during the 4th quarter worth $203,000. 87.19% of the stock is owned by institutional investors.

Doximity Stock Performance

Shares of DOCS opened at $63.33 on Wednesday. The company has a 50-day simple moving average of $63.63 and a 200-day simple moving average of $52.49. The firm has a market capitalization of $11.82 billion, a P/E ratio of 63.33, a P/E/G ratio of 4.10 and a beta of 1.34. Doximity has a 52 week low of $22.96 and a 52 week high of $85.21.

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.