Doximity’s (DOCS) “Hold” Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reiterated their hold rating on shares of Doximity (NASDAQ:DOCS) in a research report released on Wednesday, MarketBeat Ratings reports. Canaccord Genuity Group currently has a $60.00 price target on the stock, up from their previous price target of $40.00.

Other analysts also recently issued reports about the stock. Raymond James reissued an “outperform” rating and set a $65.00 price objective (up from $37.00) on shares of Doximity in a research report on Friday, November 8th. KeyCorp raised shares of Doximity from a “sector weight” rating to an “overweight” rating and set a $70.00 price target for the company in a research report on Friday, November 8th. Bank of America upped their price objective on Doximity from $32.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, October 7th. Canaccord Genuity Group lowered Doximity from a “buy” rating to a “hold” rating and lifted their target price for the stock from $40.00 to $60.00 in a report on Wednesday. Finally, Baird R W raised Doximity to a “strong-buy” rating in a report on Tuesday, September 17th. Eleven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $51.07.

Doximity Trading Down 5.0 %

NASDAQ DOCS opened at $49.42 on Wednesday. Doximity has a 12 month low of $22.96 and a 12 month high of $61.75. The stock’s fifty day moving average price is $43.40 and its 200-day moving average price is $34.11. The stock has a market cap of $9.17 billion, a P/E ratio of 56.80, a P/E/G ratio of 4.51 and a beta of 1.30.

Institutional Investors Weigh In On Doximity

Several hedge funds and other institutional investors have recently modified their holdings of DOCS. Geode Capital Management LLC lifted its position in Doximity by 19.8% during the third quarter. Geode Capital Management LLC now owns 2,856,984 shares of the company’s stock valued at $124,503,000 after purchasing an additional 472,565 shares in the last quarter. M&T Bank Corp bought a new position in shares of Doximity in the third quarter worth about $351,000. Barclays PLC lifted its position in shares of Doximity by 60.5% during the 3rd quarter. Barclays PLC now owns 53,401 shares of the company’s stock valued at $2,327,000 after buying an additional 20,125 shares in the last quarter. Orion Portfolio Solutions LLC bought a new position in shares of Doximity during the 3rd quarter valued at approximately $260,000. Finally, State Street Corp increased its holdings in Doximity by 2.5% in 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. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

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.