Truist Financial Lowers Doximity (NASDAQ:DOCS) Price Target to $58.00

Doximity (NASDAQ:DOCS) had its price objective reduced by stock analysts at Truist Financial from $65.00 to $58.00 in a report released on Thursday,Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s price objective indicates a potential upside of 9.71% from the company’s current price.

A number of other research firms have also weighed in on DOCS. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Doximity in a research note on Friday, February 7th. Bank of America raised their price target on shares of Doximity from $54.00 to $57.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Mizuho boosted their price objective on Doximity from $55.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Raymond James reissued an “outperform” rating and issued a $83.00 price objective (up from $65.00) on shares of Doximity in a research note on Friday, February 7th. Finally, Needham & Company LLC lifted their target price on Doximity from $65.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Eleven research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $64.72.

Doximity Stock Up 2.5 %

Shares of NASDAQ:DOCS opened at $52.87 on Thursday. Doximity has a twelve month low of $22.96 and a twelve month high of $85.21. The stock’s 50 day moving average is $64.74 and its 200-day moving average is $55.49. The firm has a market capitalization of $9.87 billion, a price-to-earnings ratio of 52.87, a PEG ratio of 4.10 and a beta of 1.41.

Insiders Place Their Bets

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 completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 37.40% of the company’s stock.

Hedge Funds Weigh In On Doximity

Several institutional investors have recently bought and sold shares of the company. FMR LLC raised its stake in shares of Doximity by 37.6% in the fourth quarter. FMR LLC now owns 9,409,313 shares of the company’s stock valued at $502,363,000 after buying an additional 2,571,580 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in Doximity by 708.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,510,416 shares of the company’s stock worth $80,641,000 after acquiring an additional 1,323,634 shares during the last quarter. Invesco Ltd. raised its stake in Doximity by 525.1% in the 4th quarter. Invesco Ltd. now owns 1,272,403 shares of the company’s stock valued at $67,934,000 after acquiring an additional 1,068,849 shares during the period. Franklin Resources Inc. lifted its holdings in Doximity by 1,178.3% during the fourth quarter. Franklin Resources Inc. now owns 1,062,211 shares of the company’s stock valued at $56,711,000 after purchasing an additional 979,113 shares during the last quarter. Finally, Fundsmith LLP bought a new position in Doximity during the fourth quarter worth about $37,934,000. Hedge funds and other institutional investors own 87.19% of the company’s stock.

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.