Doximity, Inc. (NASDAQ:DOCS) Receives $64.22 Consensus PT from Brokerages

Doximity, Inc. (NASDAQ:DOCS) has received an average recommendation of “Moderate Buy” from the twenty-one ratings firms that are presently covering the stock, Marketbeat.com reports. Eleven research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $64.22.

Several equities research analysts recently commented on the company. Wells Fargo & Company restated an “equal weight” rating on shares of Doximity in a research report on Friday, February 7th. Leerink Partners upgraded Doximity from a “market perform” rating to an “outperform” rating and raised their target price for the company from $60.00 to $90.00 in a report on Friday, February 7th. Canaccord Genuity Group raised their target price on Doximity from $60.00 to $71.00 and gave the company a “hold” rating in a report on Friday, February 7th. Raymond James restated an “outperform” rating and issued a $83.00 target price (up previously from $65.00) on shares of Doximity in a report on Friday, February 7th. Finally, The Goldman Sachs Group increased their price target on Doximity from $58.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, February 10th.

Doximity Trading Up 4.2 %

Shares of DOCS stock opened at $63.33 on Wednesday. Doximity has a 1-year low of $22.96 and a 1-year high of $85.21. The stock has a 50-day moving average of $63.63 and a 200-day moving average of $52.72. The stock has a market cap of $11.82 billion, a price-to-earnings ratio of 63.33, a PEG ratio of 4.10 and a beta of 1.34.

Insiders Place Their Bets

In related news, Director Timothy S. Cabral sold 20,000 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $57.62, for a total transaction of $1,152,400.00. Following the sale, the director now directly owns 6,360 shares in the company, valued at approximately $366,463.20. The trade was a 75.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 37.40% of the company’s stock.

Institutional Trading of Doximity

A number of hedge funds and other institutional investors have recently bought and sold shares of DOCS. Shaker Investments LLC OH purchased a new position in shares of Doximity during the fourth quarter worth about $559,000. Penserra Capital Management LLC bought a new position in Doximity in the third quarter valued at $2,384,000. Principal Financial Group Inc. raised its position in Doximity by 1.5% during the fourth quarter. Principal Financial Group Inc. now owns 293,974 shares of the company’s stock valued at $15,695,000 after purchasing an additional 4,282 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new position in shares of Doximity in the 4th quarter worth about $362,000. Finally, Stratos Wealth Partners LTD. bought a new position in Doximity during the fourth quarter valued at approximately $203,000. 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.