Brokerages Set Doximity, Inc. (NASDAQ:DOCS) Price Target at $52.59

Shares of Doximity, Inc. (NASDAQ:DOCS) have earned an average rating of “Hold” from the twenty research firms that are presently covering the stock, MarketBeat Ratings reports. Thirteen research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned 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 $52.59.

A number of equities analysts recently issued reports on DOCS shares. JPMorgan Chase & Co. upped their price target on Doximity from $30.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. Raymond James reaffirmed an “outperform” rating and issued a $65.00 target price (up from $37.00) on shares of Doximity in a research report on Friday, November 8th. Stephens assumed coverage on shares of Doximity in a research note on Friday, December 20th. They set an “equal weight” rating and a $55.00 price target on the stock. Canaccord Genuity Group reaffirmed a “hold” rating and set a $60.00 price objective (up previously from $40.00) on shares of Doximity in a report on Wednesday, November 13th. Finally, Canaccord Genuity Group downgraded Doximity from a “buy” rating to a “hold” rating and boosted their target price for the company from $40.00 to $60.00 in a report on Wednesday, November 13th.

Doximity Price Performance

Doximity stock opened at $57.78 on Friday. The stock has a market cap of $10.79 billion, a PE ratio of 66.41, a P/E/G ratio of 4.16 and a beta of 1.40. The stock’s fifty day moving average is $50.59 and its two-hundred day moving average is $39.94. Doximity has a 1-year low of $22.96 and a 1-year high of $61.75.

Hedge Funds Weigh In On Doximity

A number of large investors have recently modified their holdings of DOCS. FMR LLC grew its position in Doximity by 30.5% during the third quarter. FMR LLC now owns 6,837,733 shares of the company’s stock worth $297,920,000 after buying an additional 1,598,602 shares during the period. William Blair Investment Management LLC grew its holdings in Doximity by 15.8% in the second quarter. William Blair Investment Management LLC now owns 6,404,068 shares of the company’s stock valued at $179,122,000 after purchasing an additional 873,682 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in shares of Doximity in the third quarter valued at $29,453,000. Los Angeles Capital Management LLC raised its stake in shares of Doximity by 6,242.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 650,874 shares of the company’s stock worth $28,359,000 after buying an additional 640,612 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Doximity in the 3rd 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.