Doximity (NASDAQ:DOCS) Given Hold Rating at Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their hold rating on shares of Doximity (NASDAQ:DOCS) in a research note published on Wednesday morning, Marketbeat reports. The brokerage currently has a $60.00 target price on the stock, up from their previous target price of $40.00.

Several other brokerages have also recently issued reports on DOCS. Truist Financial reaffirmed a “hold” rating and issued a $35.00 target price (up from $31.00) on shares of Doximity in a report on Wednesday, August 14th. JPMorgan Chase & Co. upped their price objective on Doximity from $27.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Needham & Company LLC upgraded Doximity from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research report on Friday, August 9th. Baird R W upgraded shares of Doximity to a “strong-buy” rating in a research report on Tuesday, September 17th. Finally, Barclays increased their price objective on shares of Doximity from $52.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Eleven research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $51.07.

Doximity Stock Performance

Shares of NASDAQ:DOCS opened at $49.42 on Wednesday. The firm has a market cap of $9.17 billion, a price-to-earnings ratio of 56.80, a P/E/G ratio of 4.51 and a beta of 1.30. The firm has a fifty day moving average price of $43.40 and a 200 day moving average price of $34.11. Doximity has a fifty-two week low of $22.96 and a fifty-two week high of $61.75.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DOCS. Janney Montgomery Scott LLC increased its stake in shares of Doximity by 17.4% during the first quarter. Janney Montgomery Scott LLC now owns 20,802 shares of the company’s stock valued at $560,000 after buying an additional 3,086 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in shares of Doximity by 18.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 15,320 shares of the company’s stock valued at $412,000 after purchasing an additional 2,432 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Doximity by 36.5% during the first quarter. Sei Investments Co. now owns 35,010 shares of the company’s stock valued at $942,000 after purchasing an additional 9,359 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Doximity by 108.3% during the first quarter. Russell Investments Group Ltd. now owns 175,506 shares of the company’s stock valued at $4,723,000 after buying an additional 91,240 shares during the period. Finally, Blair William & Co. IL raised its stake in Doximity by 31.7% in the first quarter. Blair William & Co. IL now owns 90,600 shares of the company’s stock worth $2,438,000 after buying an additional 21,787 shares in the last quarter. 87.19% of the stock is currently owned by institutional investors.

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.