JPMorgan Chase & Co. Increases Doximity (NASDAQ:DOCS) Price Target to $48.00

Doximity (NASDAQ:DOCS) had its price target lifted by stock analysts at JPMorgan Chase & Co. from $30.00 to $48.00 in a report released on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential downside of 0.43% from the stock’s previous close.

Other analysts have also issued research reports about the company. Robert W. Baird lifted their price objective on Doximity from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, September 17th. Morgan Stanley raised shares of Doximity from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $33.00 to $53.00 in a research report on Thursday, November 14th. Wells Fargo & Company upgraded Doximity from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $19.00 to $41.00 in a research note on Friday, November 8th. Truist Financial boosted their price target on Doximity from $35.00 to $49.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Finally, Needham & Company LLC raised Doximity from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research note on Friday, August 9th. Eleven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $52.27.

Doximity Stock Up 0.4 %

Shares of Doximity stock opened at $48.21 on Thursday. 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 $44.64 and its 200 day moving average is $35.01. The company has a market cap of $9.00 billion, a price-to-earnings ratio of 55.41, a price-to-earnings-growth ratio of 4.18 and a beta of 1.30.

Hedge Funds Weigh In On Doximity

Several institutional investors have recently bought and sold shares of the stock. FMR LLC lifted its stake in Doximity by 30.5% in the 3rd quarter. FMR LLC now owns 6,837,733 shares of the company’s stock worth $297,920,000 after purchasing an additional 1,598,602 shares in the last quarter. William Blair Investment Management LLC increased its holdings in shares of Doximity by 15.8% in the second quarter. William Blair Investment Management LLC now owns 6,404,068 shares of the company’s stock worth $179,122,000 after purchasing an additional 873,682 shares during the last quarter. Clearbridge Investments LLC lifted its position in shares of Doximity by 7.1% in the second quarter. Clearbridge Investments LLC now owns 5,853,035 shares of the company’s stock worth $163,709,000 after buying an additional 387,200 shares in the last quarter. State Street Corp boosted its stake in Doximity by 2.5% during the third quarter. State Street Corp now owns 3,693,982 shares of the company’s stock valued at $160,947,000 after buying an additional 88,922 shares during the last quarter. Finally, Swedbank AB purchased a new position in Doximity during the 1st quarter valued at approximately $91,673,000. 87.19% of the stock is owned by hedge funds and other institutional investors.

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.