Truist Financial Issues Positive Forecast for Doximity (NASDAQ:DOCS) Stock Price

Doximity (NASDAQ:DOCS) had its price target increased by Truist Financial from $35.00 to $49.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have a hold rating on the stock.

Several other equities research analysts also recently commented on DOCS. Canaccord Genuity Group reissued a “hold” rating and issued a $60.00 price objective (up previously from $40.00) on shares of Doximity in a report on Wednesday. Morgan Stanley raised Doximity from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $33.00 to $53.00 in a report on Thursday. Wells Fargo & Company raised Doximity from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $19.00 to $41.00 in a report on Friday, November 8th. JPMorgan Chase & Co. increased their target price on Doximity from $27.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Finally, Needham & Company LLC raised Doximity from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a report on Friday, August 9th. Eleven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Doximity presently has a consensus rating of “Hold” and an average target price of $51.07.

Doximity Stock Performance

NASDAQ:DOCS traded down $2.84 on Thursday, hitting $49.20. 2,332,911 shares of the stock were exchanged, compared to its average volume of 1,736,545. The stock has a market capitalization of $9.13 billion, a price-to-earnings ratio of 57.23, a P/E/G ratio of 4.51 and a beta of 1.30. The company’s 50-day moving average price is $43.14 and its 200 day moving average price is $33.94. Doximity has a 52 week low of $22.96 and a 52 week high of $61.75.

Institutional Investors Weigh In On Doximity

A number of hedge funds have recently added to or reduced their stakes in the business. FMR LLC boosted its position in Doximity by 30.5% in the third quarter. FMR LLC now owns 6,837,733 shares of the company’s stock worth $297,920,000 after purchasing an additional 1,598,602 shares during the last quarter. William Blair Investment Management LLC boosted its holdings in Doximity by 15.8% during the 2nd quarter. William Blair Investment Management LLC now owns 6,404,068 shares of the company’s stock valued at $179,122,000 after acquiring an additional 873,682 shares during the period. Clearbridge Investments LLC lifted its holdings in Doximity by 7.1% in the 2nd quarter. Clearbridge Investments LLC now owns 5,853,035 shares of the company’s stock worth $163,709,000 after buying an additional 387,200 shares during the period. State Street Corp raised its position in shares of Doximity by 2.5% in the 3rd quarter. State Street Corp now owns 3,693,982 shares of the company’s stock worth $160,947,000 after acquiring an additional 88,922 shares in the last quarter. Finally, Swedbank AB bought a new position in Doximity during the 1st quarter valued at approximately $91,673,000. 87.19% of the stock is currently owned by 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.