Doximity, Inc. (NASDAQ:DOCS) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Doximity, Inc. (NASDAQ:DOCS) have earned a consensus rating of “Moderate Buy” from the twenty-one analysts that are covering the company, Marketbeat Ratings reports. Eleven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $64.22.

A number of research analysts recently weighed in on DOCS shares. Wells Fargo & Company upped their price objective on Doximity from $43.00 to $55.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Bank of America raised their target price on Doximity from $54.00 to $57.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Truist Financial raised their target price on Doximity from $35.00 to $49.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Canaccord Genuity Group downgraded Doximity from a “buy” rating to a “hold” rating and raised their target price for the company from $40.00 to $60.00 in a report on Wednesday, November 13th. Finally, KeyCorp reduced their target price on Doximity from $70.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th.

Insiders Place Their Bets

In other news, Director Timothy S. Cabral sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $57.62, for a total value of $1,152,400.00. Following the completion of the transaction, the director now owns 6,360 shares of the company’s stock, valued at $366,463.20. The trade was a 75.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 37.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Mackenzie Financial Corp acquired a new stake in shares of Doximity during the fourth quarter worth $7,144,000. Cache Advisors LLC purchased a new position in Doximity during the fourth quarter worth about $753,000. Tidal Investments LLC acquired a new stake in Doximity in the 4th quarter worth about $246,000. Teza Capital Management LLC purchased a new stake in Doximity in the 4th quarter valued at about $2,034,000. Finally, Strategic Global Advisors LLC acquired a new position in shares of Doximity during the 4th quarter valued at about $1,506,000. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Doximity Trading Down 3.7 %

NASDAQ DOCS opened at $72.25 on Friday. The stock has a market capitalization of $13.49 billion, a price-to-earnings ratio of 72.25, a PEG ratio of 4.20 and a beta of 1.39. The business’s 50 day moving average is $60.19 and its two-hundred day moving average is $49.05. Doximity has a 12-month low of $22.96 and a 12-month high of $85.21.

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.