Doximity (NASDAQ:DOCS) Price Target Raised to $57.00 at Bank of America

Doximity (NASDAQ:DOCS) had its target price raised by equities research analysts at Bank of America from $54.00 to $57.00 in a report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Bank of America‘s target price would indicate a potential upside of 2.08% from the stock’s current price.

Several other research firms have also weighed in on DOCS. Barclays lifted their target price on shares of Doximity from $52.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Baird R W raised Doximity to a “strong-buy” rating in a research report on Tuesday, September 17th. JPMorgan Chase & Co. raised their target price on Doximity from $30.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. Robert W. Baird boosted their price target on Doximity from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 17th. Finally, Wells Fargo & Company raised shares of Doximity from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $19.00 to $41.00 in a research report on Friday, November 8th. Thirteen equities 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $53.29.

Doximity Stock Performance

DOCS traded up $0.62 on Monday, reaching $55.84. 486,385 shares of the company’s stock were exchanged, compared to its average volume of 1,006,582. The company has a market cap of $10.42 billion, a price-to-earnings ratio of 64.18, a PEG ratio of 4.16 and a beta of 1.38. Doximity has a twelve month low of $22.96 and a twelve month high of $61.75. The company’s 50 day moving average is $51.81 and its 200-day moving average is $40.83.

Institutional Investors Weigh In On Doximity

Several institutional investors and hedge funds have recently made changes to their positions in DOCS. Fountainhead AM LLC bought a new stake in Doximity during the third quarter valued at $710,000. Penserra Capital Management LLC bought a new position in shares of Doximity in the third quarter worth $2,384,000. Federated Hermes Inc. increased its stake in Doximity by 1,824.5% during the 2nd 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 period. AXA S.A. raised its holdings in Doximity by 40.2% during the second quarter. AXA S.A. now owns 216,392 shares of the company’s stock worth $6,052,000 after purchasing an additional 61,992 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its stake 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 in the last quarter. 87.19% of the stock is owned by institutional investors and hedge funds.

About Doximity

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.