Doximity (NASDAQ:DOCS) Price Target Raised to $65.00

Doximity (NASDAQ:DOCS) had its price objective boosted by Mizuho from $55.00 to $65.00 in a research note published on Monday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other equities analysts also recently weighed in on DOCS. KeyCorp reduced their target price on Doximity from $70.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Piper Sandler raised shares of Doximity from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $31.00 to $78.00 in a research report on Friday, February 7th. Raymond James restated an “outperform” rating and issued a $83.00 target price (up from $65.00) on shares of Doximity in a report on Friday, February 7th. Canaccord Genuity Group downgraded shares of Doximity from a “buy” rating to a “hold” rating and increased their price target for the stock from $40.00 to $60.00 in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Doximity from $30.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, November 21st. Eleven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Doximity has an average rating of “Moderate Buy” and an average price target of $64.22.

Doximity Stock Performance

Shares of NASDAQ DOCS opened at $75.05 on Monday. The firm’s 50 day moving average price is $57.03 and its 200 day moving average price is $46.83. The firm has a market cap of $14.01 billion, a P/E ratio of 75.05, a price-to-earnings-growth ratio of 4.61 and a beta of 1.39. Doximity has a 1 year low of $22.96 and a 1 year high of $85.21.

Insider Activity

In related news, Director Timothy S. Cabral sold 20,000 shares of Doximity stock in a transaction dated Monday, February 3rd. The stock was 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. This trade represents a 75.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 37.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in DOCS. FMR LLC raised its position in shares of Doximity by 30.5% during the 3rd quarter. FMR LLC now owns 6,837,733 shares of the company’s stock valued at $297,920,000 after acquiring an additional 1,598,602 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Doximity by 708.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,510,416 shares of the company’s stock valued at $80,641,000 after purchasing an additional 1,323,634 shares during the last quarter. Franklin Resources Inc. increased its stake in Doximity by 1,178.3% during the fourth quarter. Franklin Resources Inc. now owns 1,062,211 shares of the company’s stock valued at $56,711,000 after purchasing an additional 979,113 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in shares of Doximity during the third quarter worth $29,453,000. Finally, Los Angeles Capital Management LLC lifted 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 worth $28,359,000 after buying an additional 640,612 shares during the last quarter. 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.