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

Canaccord Genuity Group reissued their hold rating on shares of Doximity (NASDAQ:DOCS) in a report published on Wednesday morning, MarketBeat Ratings reports. The brokerage currently has a $60.00 price objective on the stock, up from their prior price objective of $40.00.

Several other equities analysts have also commented on DOCS. Bank of America increased their price objective on shares of 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 shares of Doximity from a “buy” rating to a “hold” rating and increased their price objective for the company from $40.00 to $60.00 in a research report on Wednesday. KeyCorp raised shares of Doximity from a “sector weight” rating to an “overweight” rating and set a $70.00 price objective for the company in a research report on Friday, November 8th. Baird R W raised shares of Doximity to a “strong-buy” rating in a research report on Tuesday, September 17th. Finally, Needham & Company LLC raised shares of Doximity from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research report on Friday, August 9th. Eleven 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $51.07.

Doximity Stock Down 5.1 %

Shares of Doximity stock opened at $49.40 on Wednesday. The firm has a market capitalization of $9.17 billion, a P/E ratio of 56.78, a PEG ratio of 4.51 and a beta of 1.30. The company has a 50 day moving average price of $43.40 and a 200 day moving average price of $34.18. Doximity has a 52 week low of $22.96 and a 52 week high of $61.75.

Institutional Investors Weigh In On Doximity

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. LRI Investments LLC acquired a new stake in Doximity in the 1st quarter valued at $27,000. Farther Finance Advisors LLC grew its stake in Doximity by 324.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 789 shares of the company’s stock valued at $34,000 after acquiring an additional 603 shares during the period. Blue Trust Inc. grew its stake in Doximity by 621.4% in the 2nd quarter. Blue Trust Inc. now owns 1,385 shares of the company’s stock valued at $37,000 after acquiring an additional 1,193 shares during the period. Quarry LP grew its stake in Doximity by 101.2% in the 2nd quarter. Quarry LP now owns 1,616 shares of the company’s stock valued at $45,000 after acquiring an additional 131,253 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Doximity in the 1st quarter valued at $46,000. 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.