Doximity, Inc. (NASDAQ:DOCS) Given Average Rating of “Moderate Buy” by Analysts

Shares of Doximity, Inc. (NASDAQ:DOCS) have been given an average recommendation of “Moderate Buy” by the twenty-one brokerages that are currently covering the company, Marketbeat.com reports. Eleven investment analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $64.22.

A number of brokerages have recently commented on DOCS. Leerink Partnrs raised shares of Doximity from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. lifted their price objective on shares of Doximity from $30.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Leerink Partners raised shares of Doximity from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $60.00 to $90.00 in a research report on Friday, February 7th. KeyCorp decreased their price objective on shares of Doximity from $70.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Finally, Bank of America lifted their price objective 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.

Doximity Trading Down 1.6 %

Doximity stock opened at $76.67 on Friday. The company has a fifty day simple moving average of $59.34 and a 200 day simple moving average of $48.55. Doximity has a 1-year low of $22.96 and a 1-year high of $85.21. The company has a market cap of $14.31 billion, a P/E ratio of 76.67, a price-to-earnings-growth ratio of 4.22 and a beta of 1.39.

Insiders Place Their Bets

In other news, Director Timothy S. Cabral sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $57.62, for a total value of $1,152,400.00. Following the completion of the transaction, the director now directly owns 6,360 shares in the company, valued at approximately $366,463.20. The trade was a 75.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 37.40% of the company’s stock.

Hedge Funds Weigh In On Doximity

Hedge funds and other institutional investors have recently made changes to their positions in the company. Shaker Investments LLC OH acquired a new position in shares of Doximity in the 4th quarter valued at approximately $559,000. Fountainhead AM LLC acquired a new position in shares of Doximity in the 3rd quarter valued at approximately $710,000. Penserra Capital Management LLC acquired a new position in shares of Doximity in the 3rd quarter valued at approximately $2,384,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Doximity in the 4th quarter valued at approximately $362,000. Finally, Los Angeles Capital Management LLC raised its position in shares of Doximity by 6,242.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 650,874 shares of the company’s stock valued at $28,359,000 after buying an additional 640,612 shares in the last quarter. 87.19% of the stock is currently owned by institutional investors and hedge funds.

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.