Doximity (NASDAQ:DOCS) PT Raised to $40.00 at Canaccord Genuity Group

Doximity (NASDAQ:DOCS) had its price objective raised by equities research analysts at Canaccord Genuity Group from $37.00 to $40.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 9.80% from the stock’s previous close.

Several other analysts have also commented on DOCS. Truist Financial restated a “hold” rating and issued a $35.00 price target (up from $31.00) on shares of Doximity in a report on Wednesday, August 14th. Morgan Stanley raised their target price on shares of Doximity from $25.00 to $26.00 and gave the company an “underweight” rating in a research note on Friday, August 9th. William Blair reaffirmed an “outperform” rating on shares of Doximity in a research report on Friday, May 17th. JPMorgan Chase & Co. raised their price objective on Doximity from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Barclays upped their target price on Doximity from $31.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Doximity currently has a consensus rating of “Hold” and a consensus price target of $31.27.

Doximity Trading Up 0.6 %

NASDAQ DOCS opened at $36.43 on Tuesday. The stock has a market cap of $6.76 billion, a PE ratio of 50.60, a PEG ratio of 5.12 and a beta of 1.22. Doximity has a 12 month low of $19.71 and a 12 month high of $37.25. The company’s 50-day moving average price is $29.08 and its 200-day moving average price is $27.73.

Insider Transactions at Doximity

In related news, CFO Anna Bryson sold 30,000 shares of Doximity stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $30.00, for a total transaction of $900,000.00. Following the completion of the sale, the chief financial officer now owns 288,685 shares of the company’s stock, valued at $8,660,550. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Kira Scherer Wampler sold 2,500 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $28.00, for a total value of $70,000.00. Following the sale, the director now owns 10,258 shares in the company, valued at $287,224. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Anna Bryson sold 30,000 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $30.00, for a total transaction of $900,000.00. Following the transaction, the chief financial officer now directly owns 288,685 shares of the company’s stock, valued at approximately $8,660,550. The disclosure for this sale can be found here. Insiders sold a total of 77,951 shares of company stock worth $2,471,018 over the last three months. 39.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Doximity

Several hedge funds have recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System purchased a new stake in shares of Doximity in the fourth quarter worth about $931,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Doximity by 18.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,090 shares of the company’s stock worth $704,000 after purchasing an additional 3,915 shares in the last quarter. Handelsbanken Fonder AB grew its stake in shares of Doximity by 37.0% during the 4th quarter. Handelsbanken Fonder AB now owns 21,100 shares of the company’s stock worth $592,000 after purchasing an additional 5,700 shares during the period. California Public Employees Retirement System increased its holdings in shares of Doximity by 1.2% during the 4th quarter. California Public Employees Retirement System now owns 206,578 shares of the company’s stock valued at $5,792,000 after purchasing an additional 2,415 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC lifted its stake in shares of Doximity by 2.0% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 40,758 shares of the company’s stock valued at $1,143,000 after purchasing an additional 793 shares during the period. 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.