Doximity (NASDAQ:DOCS) Earns Hold Rating from Canaccord Genuity Group

Doximity (NASDAQ:DOCS)‘s stock had its “hold” rating reiterated by Canaccord Genuity Group in a note issued to investors on Wednesday,Benzinga reports. They currently have a $60.00 price objective on the stock, up from their previous price objective of $40.00. Canaccord Genuity Group’s price objective would suggest a potential upside of 3.32% from the stock’s previous close.

Several other analysts also recently weighed in on DOCS. Wells Fargo & Company upgraded shares of Doximity from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $19.00 to $41.00 in a report on Friday, November 8th. Raymond James reissued an “outperform” rating and issued a $65.00 price target (up previously from $37.00) on shares of Doximity in a research report on Friday, November 8th. Evercore ISI raised their price target on shares of Doximity from $34.00 to $45.00 and gave the company an “in-line” rating in a research report on Tuesday, October 8th. Barclays lifted their price objective on shares of Doximity from $52.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Doximity from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Doximity has an average rating of “Hold” and a consensus price target of $48.14.

Doximity Stock Performance

Doximity stock opened at $58.07 on Wednesday. Doximity has a fifty-two week low of $22.96 and a fifty-two week high of $61.75. The firm has a 50 day moving average price of $42.48 and a 200 day moving average price of $33.68. The company has a market capitalization of $10.78 billion, a PE ratio of 66.75, a price-to-earnings-growth ratio of 5.36 and a beta of 1.30.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. LRI Investments LLC acquired a new position in Doximity in the first quarter valued at $27,000. Farther Finance Advisors LLC increased its stake in Doximity by 324.2% in the third quarter. Farther Finance Advisors LLC now owns 789 shares of the company’s stock valued at $34,000 after purchasing an additional 603 shares during the period. Blue Trust Inc. increased its stake in Doximity by 621.4% in the second quarter. Blue Trust Inc. now owns 1,385 shares of the company’s stock valued at $37,000 after purchasing an additional 1,193 shares during the period. Quarry LP increased its stake in Doximity by 101.2% in the second quarter. Quarry LP now owns 1,616 shares of the company’s stock valued at $45,000 after purchasing an additional 131,253 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new position in Doximity in the first quarter valued at $46,000. 87.19% of the stock is currently owned by institutional investors and hedge funds.

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.