Doximity (NASDAQ:DOCS) Price Target Raised to $43.00

Doximity (NASDAQ:DOCS) had its price objective upped by Wells Fargo & Company from $41.00 to $43.00 in a research report released on Monday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other research analysts have also commented on the stock. Robert W. Baird raised their price objective on shares of Doximity from $41.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, September 17th. Stephens assumed coverage on shares of Doximity in a research note on Friday, December 20th. They issued an “equal weight” rating and a $55.00 price target for the company. Truist Financial lifted their price target on shares of Doximity from $35.00 to $49.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. KeyCorp decreased their price target on shares of Doximity from $70.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Finally, Barclays lifted their price target on shares of Doximity from $52.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Thirteen research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Doximity has a consensus rating of “Hold” and an average price target of $53.12.

Doximity Stock Performance

NASDAQ DOCS opened at $53.02 on Monday. The firm has a 50 day simple moving average of $53.40 and a 200-day simple moving average of $42.09. Doximity has a one year low of $22.96 and a one year high of $61.75. The firm has a market cap of $9.90 billion, a price-to-earnings ratio of 60.94, a PEG ratio of 4.13 and a beta of 1.38.

Hedge Funds Weigh In On Doximity

A number of institutional investors have recently modified their holdings of DOCS. Los Angeles Capital Management LLC acquired a new position in shares of Doximity in the 2nd quarter valued at $287,000. American Century Companies Inc. increased its holdings in shares of Doximity by 0.9% in the 2nd quarter. American Century Companies Inc. now owns 209,772 shares of the company’s stock valued at $5,867,000 after acquiring an additional 1,786 shares during the period. Federated Hermes Inc. increased its holdings in shares of Doximity by 1,824.5% in the 2nd quarter. Federated Hermes Inc. now owns 279,634 shares of the company’s stock valued at $7,821,000 after acquiring an additional 265,104 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in shares of Doximity by 48.2% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 22,705 shares of the company’s stock valued at $635,000 after acquiring an additional 7,385 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Doximity by 16.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 148,584 shares of the company’s stock valued at $4,156,000 after acquiring an additional 21,005 shares during the period. 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.