Doximity (NASDAQ:DOCS) Price Target Lowered to $65.00 at KeyCorp

Doximity (NASDAQ:DOCS) had its price objective reduced by analysts at KeyCorp from $70.00 to $65.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s target price suggests a potential upside of 18.16% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Bank of America raised their price objective on shares of Doximity from $54.00 to $57.00 and gave the stock a “neutral” rating in a report on Monday. Mizuho initiated coverage on Doximity in a report on Wednesday, December 4th. They issued a “neutral” rating and a $55.00 price target for the company. Robert W. Baird boosted their price objective on Doximity from $41.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, September 17th. Wells Fargo & Company upgraded 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 research note on Friday, November 8th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and set a $60.00 target price (up previously from $40.00) on shares of Doximity in a report on Wednesday, November 13th. Thirteen research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $53.00.

Doximity Stock Performance

NASDAQ DOCS traded down $0.47 during trading on Wednesday, hitting $55.01. 760,291 shares of the company’s stock traded hands, compared to its average volume of 1,259,106. The stock has a market capitalization of $10.27 billion, a price-to-earnings ratio of 63.23, a PEG ratio of 4.16 and a beta of 1.38. The business has a 50 day moving average of $52.36 and a 200-day moving average of $41.23. Doximity has a 12-month low of $22.96 and a 12-month high of $61.75.

Institutional Trading of Doximity

Hedge funds have recently added to or reduced their stakes in the business. Fountainhead AM LLC purchased a new stake in Doximity during the 3rd quarter valued at about $710,000. Penserra Capital Management LLC bought a new position in shares of Doximity in the third quarter worth approximately $2,384,000. Federated Hermes Inc. increased its stake in shares of Doximity by 1,824.5% in the second quarter. Federated Hermes Inc. now owns 279,634 shares of the company’s stock worth $7,821,000 after buying an additional 265,104 shares during the period. AXA S.A. raised its holdings in Doximity by 40.2% during the 2nd quarter. AXA S.A. now owns 216,392 shares of the company’s stock valued at $6,052,000 after buying an additional 61,992 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its position in Doximity by 6,242.6% during 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 during the period. 87.19% of the stock is owned by institutional investors.

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.