Doximity (NASDAQ:DOCS) Trading 4.9% Higher – Here’s What Happened

Doximity, Inc. (NASDAQ:DOCS) rose 4.9% during mid-day trading on Tuesday . The company traded as high as $51.16 and last traded at $51.13. Approximately 693,143 shares were traded during trading, a decline of 60% from the average daily volume of 1,751,032 shares. The stock had previously closed at $48.75.

Analysts Set New Price Targets

Several research firms recently commented on DOCS. Canaccord Genuity Group reiterated a “hold” rating and issued a $60.00 price target (up previously from $40.00) on shares of Doximity in a research note on Wednesday, November 13th. Baird R W raised Doximity to a “strong-buy” rating in a research report on Tuesday, September 17th. Barclays raised their price target 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. Robert W. Baird upped their price target on shares of Doximity from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, September 17th. Finally, Truist Financial raised their price objective on shares of Doximity from $35.00 to $49.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Eleven 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. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $52.27.

Doximity Price Performance

The stock’s fifty day simple moving average is $45.10 and its 200-day simple moving average is $35.55. The stock has a market cap of $9.98 billion, a P/E ratio of 61.43, a PEG ratio of 3.91 and a beta of 1.30.

Institutional Trading of Doximity

Several hedge funds have recently made changes to their positions in the stock. LRI Investments LLC acquired a new stake in Doximity in the first quarter worth $27,000. Farther Finance Advisors LLC grew its position in shares of Doximity by 324.2% during the third quarter. Farther Finance Advisors LLC now owns 789 shares of the company’s stock worth $34,000 after acquiring an additional 603 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Doximity by 621.4% in the 2nd quarter. Blue Trust Inc. now owns 1,385 shares of the company’s stock worth $37,000 after acquiring an additional 1,193 shares during the period. Quarry LP increased its holdings in shares of Doximity by 101.2% in the 2nd quarter. Quarry LP now owns 1,616 shares of the company’s stock worth $45,000 after acquiring an additional 131,253 shares during the period. Finally, DekaBank Deutsche Girozentrale bought a new stake in Doximity in the 1st quarter valued at about $46,000. 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.