Doximity (NASDAQ:DOCS) Coverage Initiated by Analysts at Stephens

Stephens started coverage on shares of Doximity (NASDAQ:DOCS) in a research note issued to investors on Friday morning, MarketBeat reports. The brokerage issued an equal weight rating and a $55.00 target price on the stock.

DOCS has been the subject of several other reports. 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 note on Friday, November 8th. Evercore ISI boosted their price target on shares of Doximity from $34.00 to $45.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 8th. Canaccord Genuity Group restated a “hold” rating and issued a $60.00 price objective (up previously from $40.00) on shares of Doximity in a report on Wednesday, November 13th. Bank of America upped their target price on Doximity from $32.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, October 7th. Finally, Wells Fargo & Company upgraded Doximity from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $19.00 to $41.00 in a research note on Friday, November 8th. Thirteen research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Doximity currently has an average rating of “Hold” and an average target price of $52.59.

Doximity Price Performance

Shares of Doximity stock opened at $57.83 on Friday. The firm has a market cap of $10.80 billion, a price-to-earnings ratio of 66.47, a price-to-earnings-growth ratio of 4.16 and a beta of 1.40. Doximity has a one year low of $22.96 and a one year high of $61.75. The stock’s 50-day moving average is $49.11 and its 200-day moving average is $38.78.

Institutional Trading of Doximity

Several hedge funds have recently added to or reduced their stakes in DOCS. Lord Abbett & CO. LLC acquired a new position in shares of Doximity in the third quarter valued at about $29,453,000. Retirement Systems of Alabama boosted its holdings in Doximity by 254.3% in the 3rd quarter. Retirement Systems of Alabama now owns 534,256 shares of the company’s stock valued at $23,278,000 after purchasing an additional 383,480 shares during the period. American Trust acquired a new position in shares of Doximity during the 3rd quarter worth approximately $247,000. Franklin Resources Inc. grew its position in shares of Doximity by 564.1% during the 3rd quarter. Franklin Resources Inc. now owns 83,098 shares of the company’s stock worth $3,487,000 after purchasing an additional 70,585 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Doximity during the third quarter worth approximately $24,691,000. 87.19% of the stock is owned by institutional investors and hedge funds.

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.