Doximity (NASDAQ:DOCS) Given New $43.00 Price Target at Wells Fargo & Company

Doximity (NASDAQ:DOCS) had its price target increased by research analysts at Wells Fargo & Company from $41.00 to $43.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential downside of 13.83% from the company’s previous close.

Several other brokerages also recently weighed in on DOCS. Truist Financial lifted their price objective on shares of Doximity from $35.00 to $49.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. Raymond James reiterated 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. Barclays increased their target price on shares of Doximity from $52.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. KeyCorp decreased their price objective on shares of Doximity from $70.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Finally, Mizuho began coverage on shares of Doximity in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $55.00 target price on the stock. Thirteen equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $53.12.

Doximity Price Performance

NASDAQ DOCS traded down $2.20 during mid-day trading on Monday, hitting $49.90. The company’s stock had a trading volume of 307,692 shares, compared to its average volume of 1,321,419. The stock’s fifty day simple moving average is $53.07 and its two-hundred day simple moving average is $41.78. The firm has a market capitalization of $9.32 billion, a P/E ratio of 57.36, a price-to-earnings-growth ratio of 4.13 and a beta of 1.40. Doximity has a 52-week low of $22.96 and a 52-week high of $61.75.

Institutional Trading of Doximity

Institutional investors have recently made changes to their positions in the stock. CWA Asset Management Group LLC raised its stake in shares of Doximity by 46.1% in the 4th quarter. CWA Asset Management Group LLC now owns 16,298 shares of the company’s stock valued at $870,000 after purchasing an additional 5,146 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Doximity by 6.2% during the 4th quarter. Nordea Investment Management AB now owns 52,176 shares of the company’s stock valued at $2,815,000 after buying an additional 3,053 shares during the period. GAMMA Investing LLC lifted its stake in shares of Doximity by 20.6% in the 4th quarter. GAMMA Investing LLC now owns 1,735 shares of the company’s stock valued at $93,000 after purchasing an additional 296 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Doximity by 3.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 498,056 shares of the company’s stock worth $21,700,000 after acquiring an additional 15,771 shares during the period. Finally, Lord Abbett & CO. LLC bought a new position in Doximity in the 3rd quarter worth $29,453,000. 87.19% of the stock is 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.