JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Doximity (NASDAQ:DOCS) Stock

Doximity (NASDAQ:DOCS) had its price objective upped by JPMorgan Chase & Co. from $30.00 to $48.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 0.43% from the company’s current price.

Several other analysts have also recently weighed in on DOCS. Evercore ISI lifted their price target on shares of Doximity from $34.00 to $45.00 and gave the company an “in-line” rating in a report on Tuesday, October 8th. The Goldman Sachs Group assumed coverage on shares of Doximity in a research note on Friday, November 15th. They set a “neutral” rating and a $58.00 target price on the stock. Raymond James reissued an “outperform” rating and issued a $65.00 price target (up from $37.00) on shares of Doximity in a research note on Friday, November 8th. Morgan Stanley raised Doximity from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $33.00 to $53.00 in a research report on Thursday, November 14th. Finally, Needham & Company LLC raised Doximity from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research report on Friday, August 9th. Eleven investment 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 stock. Based on data from MarketBeat, Doximity currently has an average rating of “Hold” and an average target price of $52.27.

Doximity Stock Performance

Shares of DOCS stock opened at $48.21 on Thursday. Doximity has a fifty-two week low of $22.96 and a fifty-two week high of $61.75. The firm has a market cap of $9.00 billion, a P/E ratio of 55.41, a P/E/G ratio of 4.18 and a beta of 1.30. The business’s 50 day moving average price is $44.64 and its 200-day moving average price is $35.01.

Institutional Trading of Doximity

Institutional investors have recently bought and sold shares of the company. Fountainhead AM LLC bought a new position in shares of Doximity in the third quarter worth approximately $710,000. Federated Hermes Inc. raised its holdings in Doximity by 1,824.5% in the 2nd quarter. Federated Hermes Inc. now owns 279,634 shares of the company’s stock worth $7,821,000 after acquiring an additional 265,104 shares during the last quarter. AXA S.A. raised its holdings in Doximity by 40.2% in the 2nd quarter. AXA S.A. now owns 216,392 shares of the company’s stock worth $6,052,000 after acquiring an additional 61,992 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Doximity by 15,714.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 11,070 shares of the company’s stock valued at $310,000 after acquiring an additional 11,000 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its stake in Doximity by 6,242.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 650,874 shares of the company’s stock valued at $28,359,000 after purchasing an additional 640,612 shares during the last quarter. 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.