Doximity (NASDAQ:DOCS) Earns Hold Rating from Canaccord Genuity Group

Doximity (NASDAQ:DOCS)‘s stock had its “hold” rating reiterated by research analysts at Canaccord Genuity Group in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $60.00 target price on the stock, up from their previous target price of $40.00. Canaccord Genuity Group’s price target would indicate a potential upside of 3.32% from the stock’s previous close.

Several other brokerages also recently issued reports on DOCS. Wells Fargo & Company raised shares of Doximity from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $19.00 to $41.00 in a report on Friday, November 8th. Barclays upped their price target on shares of Doximity from $52.00 to $75.00 and gave the company an “overweight” rating in a report on Monday. Evercore ISI upped their price target on shares of Doximity from $34.00 to $45.00 and gave the company an “in-line” rating in a report on Tuesday, October 8th. Bank of America upped their price target on shares of Doximity from $32.00 to $45.00 and gave the company a “neutral” rating in a report on Monday, October 7th. Finally, Truist Financial reissued a “hold” rating and set a $35.00 price objective (up previously from $31.00) on shares of Doximity in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $48.14.

Doximity Trading Down 5.2 %

Shares of DOCS opened at $58.07 on Wednesday. The firm’s 50-day moving average is $42.48 and its two-hundred day moving average is $33.68. Doximity has a twelve month low of $22.96 and a twelve month high of $61.75. The firm has a market capitalization of $10.78 billion, a P/E ratio of 66.75, a PEG ratio of 5.36 and a beta of 1.30.

Institutional Investors Weigh In On Doximity

Several large investors have recently made changes to their positions in DOCS. LRI Investments LLC acquired a new stake in shares of Doximity in the first quarter worth $27,000. Farther Finance Advisors LLC increased its position in shares of Doximity by 324.2% in the third quarter. Farther Finance Advisors LLC now owns 789 shares of the company’s stock worth $34,000 after acquiring an additional 603 shares in the last quarter. Blue Trust Inc. increased its position in shares of Doximity by 621.4% in the second quarter. Blue Trust Inc. now owns 1,385 shares of the company’s stock worth $37,000 after acquiring an additional 1,193 shares in the last quarter. Quarry LP increased its position in shares of Doximity by 101.2% in the second quarter. Quarry LP now owns 1,616 shares of the company’s stock worth $45,000 after acquiring an additional 131,253 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Doximity in the first quarter worth $46,000. 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.