Doximity (NASDAQ:DOCS) Stock Price Expected to Rise, Bank of America Analyst Says

Doximity (NASDAQ:DOCS) had its target price upped by investment analysts at Bank of America from $54.00 to $57.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Bank of America‘s price target would indicate a potential upside of 3.47% from the company’s previous close.

A number of other analysts have also issued reports on DOCS. Raymond James reissued an “outperform” rating and set a $65.00 target price (up from $37.00) on shares of Doximity in a research note on Friday, November 8th. JPMorgan Chase & Co. upped their target price on shares of Doximity from $30.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. Barclays lifted their price target on shares of Doximity from $52.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. KeyCorp raised Doximity from a “sector weight” rating to an “overweight” rating and set a $70.00 price objective on the stock in a research note on Friday, November 8th. Finally, Truist Financial upped their target price on Doximity from $35.00 to $49.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Thirteen 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $53.29.

Doximity Stock Performance

Shares of DOCS stock opened at $55.09 on Monday. The stock has a 50 day moving average price of $52.36 and a 200 day moving average price of $41.23. Doximity has a 52-week low of $22.96 and a 52-week high of $61.75. The firm has a market capitalization of $10.28 billion, a P/E ratio of 63.32, a P/E/G ratio of 4.16 and a beta of 1.38.

Institutional Investors Weigh In On Doximity

A number of large investors have recently modified their holdings of DOCS. Fountainhead AM LLC purchased a new position in shares of Doximity in the 3rd quarter valued at approximately $710,000. Penserra Capital Management LLC acquired a new stake in shares of Doximity during the third quarter worth $2,384,000. Federated Hermes Inc. grew its holdings in shares of Doximity by 1,824.5% during the second quarter. Federated Hermes Inc. now owns 279,634 shares of the company’s stock valued at $7,821,000 after buying an additional 265,104 shares during the last quarter. AXA S.A. increased its position in shares of Doximity by 40.2% in the 2nd quarter. AXA S.A. now owns 216,392 shares of the company’s stock valued at $6,052,000 after acquiring an additional 61,992 shares during the period. Finally, Los Angeles Capital Management LLC raised its stake in 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 acquiring an additional 640,612 shares during the last quarter. Hedge funds and other institutional investors 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.