Doximity’s (DOCS) “Hold” Rating Reiterated at Canaccord Genuity Group

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

Several other research analysts have also commented on the company. Needham & Company LLC upgraded Doximity from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a report on Friday, August 9th. Bank of America lifted their price target on Doximity from $32.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, October 7th. Wells Fargo & Company upgraded Doximity from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $19.00 to $41.00 in a report on Friday, November 8th. Robert W. Baird lifted their price target on Doximity from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, September 17th. Finally, Truist Financial reiterated a “hold” rating and set a $35.00 price target (up previously from $31.00) on shares of Doximity in a report on Wednesday, August 14th. Eleven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $51.07.

Doximity Stock Performance

Shares of DOCS stock opened at $49.40 on Wednesday. The stock’s fifty day moving average is $43.40 and its two-hundred day moving average is $34.18. The firm has a market capitalization of $9.17 billion, a P/E ratio of 56.78, a PEG ratio of 4.51 and a beta of 1.30. Doximity has a fifty-two week low of $22.96 and a fifty-two week high of $61.75.

Institutional Trading of Doximity

A number of institutional investors and hedge funds have recently bought and sold shares of the business. MetLife Investment Management LLC increased its stake in Doximity by 0.6% during the third quarter. MetLife Investment Management LLC now owns 65,064 shares of the company’s stock worth $2,835,000 after purchasing an additional 363 shares during the period. First Horizon Advisors Inc. increased its stake in Doximity by 22.5% during the third quarter. First Horizon Advisors Inc. now owns 2,094 shares of the company’s stock worth $91,000 after purchasing an additional 384 shares during the period. GAMMA Investing LLC increased its stake in Doximity by 40.1% during the third quarter. GAMMA Investing LLC now owns 1,439 shares of the company’s stock worth $63,000 after purchasing an additional 412 shares during the period. Van ECK Associates Corp increased its stake in shares of Doximity by 19.7% during the second quarter. Van ECK Associates Corp now owns 2,590 shares of the company’s stock worth $72,000 after buying an additional 427 shares during the period. Finally, Cornercap Investment Counsel Inc. increased its stake in shares of Doximity by 3.2% during the second quarter. Cornercap Investment Counsel Inc. now owns 17,143 shares of the company’s stock worth $479,000 after buying an additional 537 shares during the period. 87.19% of the stock is currently owned by hedge funds and other 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.