Truist Financial Increases Doximity (NASDAQ:DOCS) Price Target to $49.00

Doximity (NASDAQ:DOCS) had its target price increased by investment analysts at Truist Financial from $35.00 to $49.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s target price suggests a potential downside of 6.72% from the company’s current price.

Other research analysts have also issued reports about the company. Morgan Stanley raised Doximity from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $33.00 to $53.00 in a report on Thursday. Wells Fargo & Company upgraded shares of Doximity from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $19.00 to $41.00 in a report on Friday, November 8th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $60.00 price target (up previously from $40.00) on shares of Doximity in a report on Wednesday. Baird R W raised Doximity to a “strong-buy” rating in a research report on Tuesday, September 17th. Finally, Raymond James restated an “outperform” rating and set a $65.00 price objective (up previously from $37.00) on shares of Doximity in a report on Friday, November 8th. Ten equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $50.57.

Doximity Stock Performance

Shares of DOCS stock traded down $0.33 during mid-day trading on Thursday, hitting $52.53. 533,806 shares of the stock traded hands, compared to its average volume of 1,726,221. Doximity has a twelve month low of $22.96 and a twelve month high of $61.75. The company’s 50-day simple moving average is $42.81 and its 200-day simple moving average is $33.81. The firm has a market cap of $9.75 billion, a price-to-earnings ratio of 60.38, a price-to-earnings-growth ratio of 5.08 and a beta of 1.30.

Institutional Trading of Doximity

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Swedbank AB bought a new stake in shares of Doximity in the first quarter valued at approximately $91,673,000. FMR LLC increased its holdings in shares of Doximity by 30.5% during the 3rd quarter. FMR LLC now owns 6,837,733 shares of the company’s stock worth $297,920,000 after purchasing an additional 1,598,602 shares during the period. Capital World Investors raised its position in shares of Doximity by 250.7% during the first quarter. Capital World Investors now owns 1,714,707 shares of the company’s stock valued at $46,143,000 after buying an additional 1,225,707 shares during the last quarter. William Blair Investment Management LLC lifted its stake in shares of 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 buying an additional 873,682 shares during the period. Finally, Los Angeles Capital Management LLC grew its position in Doximity by 6,242.6% during the third 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 in the last quarter. Institutional investors and hedge funds 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.